News: Owners Developers & Managers

John M. Corcoran & Company and SMT Development host opening of new 7,000 s/f park

Shown (from left) are: Tim Corcoran,
project director, JMC; Elan Sassoon,
principal, SMT Development; Briselle Salas,
guest; Somerville mayor Katjana Ballantyne;
and Ward 2 councilor J.T. Scott.

Somerville, MA John M. Corcoran & Company (JMC) and SMT Development joined with the city and mayor Katjana Ballantyne to celebrate the city’s newest park at 346 Somerville Ave., adjacent to the companies’ new residential building, Union 346. Named for Martha Perry Lowe, the greenspace is 7,000 s/f and includes café seating, benches, hammock stations, and an open lawn area surrounded by tasteful landscaping. In addition to mayor Ballantyne, the ribbon-cutting was also attended by councilor J.T. Scott, numerous other city officials, and members of the neighborhood. 

“I want to thank the Union 346 team including Corcoran & Company for joining with the city and the community to create this wonderful new pocket park,” said mayor Ballantyne. “When Somerville changed its zoning to require qualifying developments to provide public open spaces, we couldn’t have hoped for a better project partner. The team at Union 346 honored public feedback, worked collaboratively with the city, and made sure that this great new small park would help meet our great big goals to provide more green spaces designed to meet the needs of our neighborhoods. From the trees and native plants to the stormwater features and hammock posts, this park will serve our community for years to come.” 

“Our partnership with the city has resulted in a beautiful green space for the community and our residents to enjoy,” said Tim Corcoran of JMC. “As Union Sq. continues to evolve, Union 346 brings not only this park to the neighborhood, but a new high-quality living option.” 

Martha Perry Lowe (1829-1902) was a founder of the Women’s Educational Union in the city, active in the Associated Charities, which gave work to poor women; the Heptorean Club, the first women’s club in the city; president of the Suffrage League; and president of the Women’s Alliance of the First Unitarian Church. 

 Union 346, a 94-unit apartment community that includes 2,000 s/f of ground floor retail, is a joint venture partnership between JMC, The Grossman Companies, Inc., and SMT Development. Located in Union Sq., one of Greater Boston’s most popular neighborhoods, this transit-oriented development is close to 18 restaurants, nine entertainment venues, and many public transportation options, including the new Green Line Extension.

MORE FROM Owners Developers & Managers

Barnat Development begins work on Phase II of Holmes Beverly - construction led by NEI General Contracting

Beverly, MA Barnat Development has begun construction on Holmes Beverly Phase II, adding 52 apartment homes adjacent to the existing development near the Beverly Depot MBTA commuter rail station. The project is financed through the newly launched Holmes Opportunity Zone Fund, focused on investing in new multifamily construction projects across New England. $10 million of Holmes OZ Fund equity is paired with $21 million in long-term
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala

Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala

Until recently, the Conant Thread District consisted of approximately 150 acres of underutilized industrial land spanning Pawtucket and Central Falls. Today, the area is one of the most significant
IREM president’s message:  Our new reality - Staying ahead of supply chain delays - by Yoany Vargas

IREM president’s message: Our new reality - Staying ahead of supply chain delays - by Yoany Vargas

Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and

Revitalized Town Centers:  Retail??? - by Carol Todreas

Revitalized Town Centers: Retail??? - by Carol Todreas

It is now widely accepted that customers want to shop in person at physical stores. Brands know that they do better business in a physical store than just on line so they want to open stores. Demand for retail space by digital merchants, local entrepreneurs, and newly developed national chains
Florida ruling raises bar for condo terminations and buyouts - by Michael Karsch

Florida ruling raises bar for condo terminations and buyouts - by Michael Karsch

On October 14, 2025, in a landmark decision with significant implications for the Florida real estate market, the Supreme Court of Florida formally denied Two Roads Development’s (TRD Biscayne LLC) petition for review in its long-running case against unit owners of Biscayne 21,