Major Multi-Family Development Site in Abington Sold for $4.6 Million

December 23, 2024 - 03:37

Abington, MA – A significant multi-family development site spanning 9 acres at 0 Summer Street has been sold for $4.6 million. The site is fully permitted for the construction of 198 residential units, which will encompass a total of 277,186 gross square feet. The transaction took place last month, with Wood Partners acquiring the property.

This sale marks a notable investment in the Abington area, reflecting the growing demand for multi-family housing in suburban locations. The development is expected to contribute to the local economy by providing much-needed housing options and creating job opportunities during the construction phase.

Caroline Ligotti played a key role in facilitating the transaction, showcasing the increasing interest from developers in the region. With the ongoing trend of urban migration, this development aligns with the broader movement towards creating more residential spaces in suburban communities, catering to a diverse range of residents. The future of this site promises to enhance the local landscape significantly.