News: Owners Developers & Managers

EDENS breaks ground on new 700,000 s/f South Bay development

new 700,000 s/f mixed use project adjacent to its South Bay retail development at 101 Allstate Road in Dorchester, Mass. 101 Allstate Rd. - Dorchester, MA

Dorchester, MA On Wednesday, August 10, EDENS, one of the nation’s leading retail real estate developers, broke ground on a new 700,000 s/f  mixed use project adjacent to its South Bay retail development at 101 Allstate Rd. EDENS CEO Jodie McLean was joined by Boston’s mayor Martin Walsh, city councilor Frank Baker and (other elected officials) to mark the occasion. Construction partner Lee Kennedy Co., local union leaders, along with representatives from surrounding neighborhood associations were on site.

The groundbreaking marks the start of transforming vacant industrial property and an active concrete plant into a mixed use destination including upgrades to the existing South Bay shopping center.

“I want to thank EDENS for investing in Dorchester, and for being a great partner to the city and its residents,” said mayor Walsh. “This project will bring a new vibrancy and energy to a once-vacant area in South Bay, and the benefits will not only be felt in Dorchester, but all across the City as people flock to this new destination.

This project serves as a great example of the type of mixed-use and transit-oriented development that we are looking to bring to all corners of our city.”

EDENS will develop 160,000 s/f of retail with a mix of restaurants and shops, a 12-screen luxury AMC Theatre with IMAX, a flagship Wahlburgers, and a 130-room hotel for Dorchester and the greater Boston area.

The development also includes 475 new housing units, offering a mix of studio to three bedrooms. The new residences, including over 60 affordable apartments, are all near two MBTA stops and I-93 and will include amenities such as roof decks, a pool with cabanas & grilling areas, fitness facilities, and more.

“EDENS mission is to enrich communities. By creating engaging retail centers through inspired design and a mix of national and local operators, we can impact the lives of those who interact with our places. When we see residents of the neighborhood embrace them, turn them into a key part of their lives and make them a meaningful destination for the community – we have succeeded in our mission,” said Jodie McLean, CEO of EDENS. “Already a destination for local residents and the greater Boston region, South Bay’s new retail, new partners and new design will elevate the community’s experience and ensure its success for many years to come.”

EDENS exemplifies its commitment to enriching communities through the planned substantial investment to neighborhood infrastructure improvements and community benefits as part of the new South Bay development. In addition to partnering with local authorities to make significant traffic improvements for the community, EDENS will provide expanded shuttle services and create a series of landscape improvements, a pedestrian main street and welcoming outdoor gathering spaces.

EDENS develops, owns and operates community shopping centers in primary markets across the country. Focusing on innovative development and redevelopment together with key acquisitions in urban areas, the company has built an institutional-quality portfolio of more than 130 retail centers. EDENS has regional headquarters in Boston, Washington, D.C., Atlanta, Miami, Dallas, Houston and Columbia, SC.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary