Wood Partners, a national multifamily developer based in Atlanta, has purchased a nine-acre development site located at 412 Summer St. in Abington, MA for $4,653,000. The property was previously fully permitted for 198 units and was sold by Caroline Ligotti, Linda Redeker and Emily McGranaghan of Boston City Group Inc., who also facilitated the buyer.
The project will be named Alta Abington Station and will consist of a single five-story building constructed by Wood Partners under Chapter 40B regulations. This transit-oriented development is situated next to an MBTA commuter rail station and received final approvals from the Abington Zoning Board of Appeals and Conservation Commission earlier this year.
With its prime location along the South Shore Route 3 Corridor near Boston’s city center, this is one of the largest multifamily developments approved in recent years. Additionally, as part of its commitment to affordable housing initiatives within the community, Wood Partners has designated 25% of units as affordable housing options.
