Developments Reshaping Real Estate in Boston’s South Shore

News Summary

Boston’s South Shore real estate is experiencing transformative changes with significant multifamily developments and rising home prices. Projects like Hall Street Flats are drawing attention, alongside increased interest from investors and potential residents. With new constructions on the horizon and a flourishing rental market, the area is quickly becoming an attractive destination for both living and commercial endeavors.

Exciting Developments Changing Boston’s South Shore Real Estate Scene

Boston’s South Shore is buzzing with activity as significant multifamily developments and residential listings reshape the local real estate landscape. A mix of ongoing projects and rising home prices is feeding a growing interest in this area, drawing both investors and future residents alike.

Spotlight on Hall Street Flats

In the heart of Old East Dallas, Abington Properties is making headlines with the sale of Hall Street Flats, a sprawling 340-unit multifamily property located at 1800 North Hall Street. Currently, this property boasts an impressive 94% occupancy rate — no small feat in today’s housing market! It was constructed in 2016 by Mill Creek Residential, a notable Dallas-based builder.

Abington Properties originally acquired Hall Street Flats in 2020, financing the purchase with a hefty $34 million mortgage. Fast forward to now, and the appraised value of this property has skyrocketed from $52.8 million in 2019 to a staggering $74 million in 2024. A key reason for this surge is the impressive neighborhood, featuring a median household income of nearly $100,000 within a one-mile radius.

Market Trends in Dallas-Fort Worth

The Dallas-Fort Worth market has seen a whirlwind of activity lately, with nearly 40,000 new apartment units delivered in 2023. However, the rental landscape isn’t all sunshine. With vacancy rates hovering around 11%, the highest level in 20 years, rental prices have come under pressure. Industry experts believe that stabilization of rent growth is on the horizon, as the market clears out some of the backlog of apartments.

The Hollywood Neighborhood Charm

29 properties have sold here, witnessing home sale prices jump from approximately $185,000 to recent transactions exceeding $427,000. Originally founded in the 1920s by builder Gustav Weber, Hollywood captures a distinctive charm with its Southern California-style architecture, featuring unique styles like Spanish Revival and Mission Revival.

New Developments on the Horizon

Alta Abington Station. This innovative development will feature 198 units, with 25% designated for affordable housing, signaling a commitment to community accessibility.

Alta Abington Station isn’t just about homes; it promises to deliver top-notch amenities including a refreshing swimming pool, a state-of-the-art fitness center, and even a dog park for furry residents. Wood Partners has built a strong position in the Greater Boston area over the last decade, demonstrating a knack for creating residences that folks can be proud to call home.

Commercial Opportunities in Cheltenham

1.44-acre parcel on South Easton Road for lease at $5,500 monthly. This location is geared towards attracting innovative businesses, with potential uses for coffee shops, retail, and dining options. It’s an exciting time for growth as Cheltenham continues to expand its commercial landscape.

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Additional Resources

• The Real Deal: Dallas Multifamily Property
• Inquirer: Abington Home Renovation
• Boston Real Estate Times: Development Site Sale
• Patch: Prime Property Near Arcadia University
• Inquirer: Hollywood Neighborhood Real Estate
• Google Search: Real Estate in Boston’s South Shore