Dorchester Landmark Hits Market As Development Site

Banker & Tradesman | By Steve Adams
May 16, 2017

Another high-profile Dorchester commercial property has hit the market as a potential development site.

The owners of the former Philips Old Colony House restaurant are seeking joint venture partners or developers interested in ground-leasing the 1.8-acre site at 780 Morrissey Blvd.

The property could support approximately 156,000 square feet of development under the current zoning, said Christopher Sower, a senior vice president at Colliers International Boston which has been hired to market the property.

Recent developments such as Hub 25 near the MBTA’s JFK-UMass station have been leasing apartments in the $4 per square foot range, pointing toward the Philips property’s redevelopment potential as a multifamily development, Sower said.

Higher densities could be available if the developer pursues a planned development area approval through the Boston Planning and Development Agency.

“It seems like there’s support for higher density along this corridor, and this type of development is exactly what the city is looking for in its housing plan,” Sower said.

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