If you own a Multi-family property in South Boston you probably know by now that you're sitting on gold. No matter the condition, multi-families in South Boston are highly sought after in order to be redeveloped and converted into condominiums for sale or for rent. Sell out costs on new construction condos can reach as high as $750-$800 per square foot and the average rental rate for a 2-bedroom apartment has hit $3,150/month. (Data from MLSpin, 2019 statistics)

Everyone wants a piece of the South Boston real estate market, especially those seeking out properties with lots of upside development potential. However, it's become increasingly more difficult in South Boston to squeeze every last ounce of potential out of the property in order to maximize your return. As a result, the biggest risk for buyers/developers is getting the proposed project approved.

Three property owners just outside of Andrew Square in South Boston are taking advantage of a rare opportunity. The three neighboring property owners are banding together in order to take advantage of what could be a much larger development opportunity for potential buyers.

As of April 1st, JR Associates has opened it's first location on Cambridge Street in East Cambridge. The 450 SF boutique-style office space will be home to the family-owned real estate and design services firm. The one-stop shop provides clients with a full line of services from residential sales and leasing to property management, general contracting, and engineering/design services for new and existing residential and commercial projects.

Meet Emmett, the best closer in the game and the official treat taster of JR Associates. Providing licks and lots of attention to our clients, Emmett is the office dog doing his best to advocate more pet-friendly listings in Cambridge. With a 7th birthday coming up on the 11th of April, he's ready for another fulfilling year of being a good boy.

Sitting in on today's East Cambridge Business Association meeting, we heard from John Twohig of New England Development and Rich McKinnon of the McKinnon Co. regarding the latest news on the proposed zoning for the CambridgeSide Galleria. Plans to convert the third floor retail into approx. 140,000 SF of office space. There are of course, other plans within this scope of work to redevelop other parts of the site and existing buildings to diversify the space and attract more tenants, consumers, tourists, and the general public. Of this, some 100-120 residential units are also being proposed as well as a significant overhaul on First Street to better integrate the shopping center with more street level access.