The site is 10,603 SF and zoned CMX 2. Current ownership has alreadyconsolidated the parcel. This new parcel configuration would allow 26 unitsby right with a green roof and between 32 and 39 units by using variationsof the Mixed Income Housing Bonus. The buyer would be able to achieve33 units over commercial and 19 parking spaces with moderate incomehousing bonus, these rental moderate income housing bonus rates arevery near to market rents in the area and so they do not present much ofa hinderance. The buyer could; however, seek to do any amount of unitsthey wish either through the variance process, or a different combinationof bonuses and if they decided not to do mixed income bonuses the buyercan pay into Mixed income housing fund, parking is not required but wefeel is a nice amenity to have for the area. The location is prime, rumorhas it that this portion of the Ridge Avenue corridor will soon have itâszoning designation changed to CMX3 as this is along a quickly developingcommercial corridor near PHAâs new headquarters and presents anopportunity for significant upside.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
