If there’s a parcel of land, a nook, a cranny in Southie, a developer will find it and build on it. The Boston Business Journal is reporting that the 42, 000 plus square foot lot right next to the Arts for Humanity building on West First has been proposed for development by CV Properties. The proposed 8 story office and R&D building will feature retail shops, a cafe and innovation work space and gallery. This potential new development is just a few blocks away from
CV Properties – also known as Commonwealth Ventures has developed lots of South Boston in particular along A and D streets. Not only are they developing but they are making a ton of money in the process. The BBJ article sites examples such as CV properties bought a 1.5 million-square-foot development at Channel Center Street for $21.5 million in 2007 and then renovated the spaces at 10, 20, and 30 Channel Center Street and then sold it last week for a cool $119 million to Lasalle Investment Management. Wowee!
In other real estate news, a little birdie told us that Carson Towers aka the High-Rise/Bay Towers (on Columbia & G) has sold for over $64 million. Holy Moly!