Real estate news
A proposed apartment complex near the mall has so far proved divisive.
Major changes could be made to the South Shore Plaza shopping center in Braintree, but some residents and officials are expressing concerns about a housing development project known as Residences on Granite.
The plan would carve out a nearly nine-acre stretch of parking lots and woods containing two homes so Florida-based ZOM Living could build a 495-unit apartment and senior living complex. This would be the largest housing development for Braintree in decades, and follows a national trend of placing apartments next to commercial properties, The Boston Globe reported.
But Braintree officials are now ready to consider the proposal and Mayor Charles Kokoros has spoken out against the plan.
“It’s extreme density,” Kokoros said, according to The Register of Patriots. “We don’t see this as favorable to the city.”
Kokoros is concerned that the development will negatively impact roads, water and sewers in Braintree, the Registry of Patriots reported.
Resident Justine Huang said the proposed complex is “not at all compatible with our neighborhood”, according to the Registry of Patriots.
The country’s largest mall owner, Simon Property Group, has already incorporated residential development into its commercial properties across the country. Simon has owned the South Shore Plaza since 1996, according to the World, and ZOM is under contract to purchase the acreage. It could be up to $20 million.
It would be ZOM’s first development in the northeast, something the company has been exploring for years.
“We’ve been looking at the area for several years, trying to find the right opportunity, even before the pandemic hit,” ZOM chief executive Jim Dunlop said. told Boston.com.
If the necessary approvals are obtained, groundbreaking is expected to take place in mid-2024 with construction expected to be completed by the end of 2026. The development would comprise two five-story buildings, one with 180 housing units for 55 year olds. and above, and the other with 315 units. This would include units ranging from 550 square foot studios to 1,800 square foot two-bedroom apartments. One-bedroom units around 700 square feet would be most common.
Using current market conditions in Greater Boston, Dunlop estimated that rents would start at around $2,100 per month for bachelor apartments, $2,500 for one-bedroom units, and $3,000 for two-bedroom units.
The necessary zoning changes have yet to be approved by Braintree Town Council. Councilor Joseph Reynolds told the World that it supports development because it provides residents with a way to sell their single-family homes and stay in the community.
But North Braintree Civic Association president Kelly Moore told the World that he is concerned about the size of the development and the impacts on traffic.
“The dualistic relationship between the Plaza and the city – it has to work for both, and it just doesn’t work at all,” Moore told the newspaper.
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