Funeral Home Site Could Be Redeveloped As 57 Condos
Lower Mills civic OK’s development on Washington St.
151 Liverpool Street | Boston Redevelopment Authority
1120-1132 Washington Street
January 2016 - Commercial Deals

East West Bank financing of $1,890,000 has enabled the $2,700,000 purchase of 433 Furnace Brook Pkwy. in Quincy by City PT Quincy LLC, an entity managed by John Sambucci, from 433 Furnace Brook LLC and its manager, Michael J. Boyce. The seller had paid $1,500,000 in April 2010 for the 16-unit apartment building that encompasses 9,725 sf and is located on a 16,250-sf parcel.
Lower Mills - Mixed-use development

An emerging plan to build a multi-story condominium complex along a key stretch of Washington Street in Lower Mills is getting re-vamped this week after civic and merchant leaders pushed back against an initial proposal that they said was too tall and dense for the neighborhood’s expanding business district.

A two-man development team has an agreement to purchase five parcels— including the former Molloy funeral parlor and a large, 22,000-square-foot lot that is zoned for commercial use behind the now-defunct funeral home. The properties – which include three other structures – have been controlled in recent years by the Molloy Family trust based in Pembroke, which has leased the buildings on the parcels to an organization that rents the living units out to men recovering from substance abuse.

Michael O’Malley, a veteran building contractor, has partnered with an accountant, John Sambucci, to form City Point Development, which plans to purchase the parcels for an undisclosed price. Cumulatively, the combined parcels have an assessed value of more than $1.4 million, according to the City of Boston. However, the anticipated sale price is expected to be over $3 million, according to sources familiar with the deal.

O’Malley, a builder who emigrated to the United States from Ireland, has convened meetings with abutters at the former funeral home on three occasions in the last two months. O’Malley said that he has been willing to meet with abutters and community leaders first before finalizing design plans for the building. Several civic and merchant leaders interviewed this week by the Reporter say that’s been a good thing, since they were not pleased with O’Malley’s initial plan: to erect a six-story, 50-plus unit residential development on the largest of the five parcels in play: the 22,000- square-foot parcel that abuts the Ester restaurant and Lower Mills Library in the rear.
Newton developer plans Dorchester condo project near Neponset River

City Point Development, a Newton-based residential real estate development company, has proposed a 57-unit condominium project with retail on six parcels of land in Dorchester's Lower Mills area.

The project proposal comes a few days after the Boston Redevelopment Authority approved two large-scale mixed-use projects on multiple land parcels in Dorchester: the $200 million retail and residential expansion of South Bay Center and the $150 million residential and retail project on the 1200 block of Dorchester Avenue called Dot Block.

City Point Development is proposing 57 units at 1120-1132 Washington St., a 48,303-square-foot site near the intersection of Washington and Richmond streets and the former Molloy funeral home. The site is located near Milton Station, which provides trolley service to the Ashmont Red Line station, and the Neponset River Reservation.

The site at 1120-1132 Washington St. also contains a three-family home and two two-family homes.

"The redevelopment of the site will involve replacing all the existing structures with an attractive single, four-story, mixed-use building and will add energy and vitality to the area, increase the available housing, provide employment opportunities, … add to the tax base, and improve the streetscape," wrote John H. Rogers and Anthony L. Leccese, attorneys representing City Point Development, in their filing to the BRA. "

The building is proposed to span 66,859 square feet and include two ground-floor retail units, 51 below-grade parking spaces and 43 exterior parking spaces. City Point said in its filing to the city that the project could change to apartments "should market conditions, financing or other factors militate against a condominium development."
© City Point Development, LLC