OnPoint Capital breaks ground on 9-unit condo project

September 20, 2019 - Construction Design & Engineering
57 Saratoga Street - East Boston, MA

East Boston, MA OnPoint Capital broke ground on it’s $3.4 million condo project located at 57 Saratoga St. Starting in April 2018, OnPoint Capital recognized the potential opportunity to add housing units to the underutilized 5,000 s/f lot, which contained a two-family house. After gaining the community’s support for the project, the proposal went before the Boston Planning & Development Agency Board of Appeals and received unanimous approval.

The 16,065 s/f building will contain nine condo units, ranging in size from 1,060 – 1,267 s/f. Each unit will have elevator access, its own private deck, and a deeded garage parking space. The building will house the garage parking spaces at grade with three units per floor on floors 2-4. The three penthouse units benefit from their own private roof decks with views of the city’s skyline.

OnPoint Development is the builder and Tim Johnson Architecture is the designer.

Construction of the new four-story brick building at 57 Saratoga St. will be managed by OnPoint’s in-house contracting arm and is expected to be completed by the summer of 2020.

57 Saratoga St. is located in the Central Sq. neighborhood which has seen growth over the past five years. Specifically, this project is in close proximity to the new Central Sq. park and shopping district. It’s located a half mile from the Maverick Sq. and Logan Airport blue line stops for access to downtown.

“We love East Boston. The eclectic mix of food, culture, skyline Boston views and some of the nicest parks and green space in the city, make East Boston incredibly desirable. The proximity to downtown via the blue line makes for one of the most convenient commutes to downtown of any Boston neighborhood. We think that the impressive growth that East Boston has seen over the past 5 years is only a preview of what is to come,” said Max Taylor, principal, OnPoint Capital.

OnPoint is a private real estate investment and development firm that acquires, re-develops, and stabilizes properties in markets throughout greater Boston. Their specialty is acquiring properties with a value-add component ranging from re-positioning to re-zoning and development. OnPoint manages the development process from acquisition, through zoning and permitting to construction and sale.

 

 

Tags:

Comments

Add Comment


More from the New England Real Estate Journal