Brookfield, New England Development JV Buys South Weymouth Naval Air Station Site for $65M

Developers Close on Parcel for South Weymouth Naval Air Station Redevelopment
CRE Market Beat Take
A $65 million JV land acquisition for a 6,500-unit, 2 million-square-foot mixed-use plan signals continued institutional equity appetite for large-scale, long-duration redevelopment plays in Boston’s suburbs.

Redevelopment plans for the former South Weymouth Naval Air Station have advanced with the sale of a major landholding at the long-inactive base. Washington Capital Management has sold its property interest at the site to a newly formed joint venture between Brookfield Properties and New England Development. The transaction, valued at $65 million, was recorded last week in both Norfolk and Plymouth counties, marking a key step in repositioning the former military installation.

The joint venture buyers are planning a large-scale mixed-use project on the property, which is spread across the towns of Weymouth, Rockland and Abington. Current proposals call for approximately 6,500 housing units alongside about two million square feet of commercial and retail space. The redevelopment is designed to cover more than 1,400 acres, giving it a footprint that extends across multiple municipalities on the South Shore.

According to the parties involved, the scale of the master plan is expected to make the Base redevelopment the largest combined residential and commercial project in Massachusetts. The residential component is anticipated to deliver a substantial amount of new housing, while the commercial and retail program is expected to support employment and services tied to the broader region.

Project representatives say that initial infrastructure work is scheduled to begin this fall, setting the stage for subsequent vertical development on the site. The early phase work is expected to focus on preparing the property for phased build-out of the planned housing and commercial components.

John Twohig of New England Development stated that the team views the Base as a project with meaningful economic and community impacts for Weymouth, Rockland and Abington, as well as the surrounding area. He noted that the redevelopment is intended to address job creation and housing needs within the Commonwealth, reiterating that the Base is positioned to become the largest residential and commercial redevelopment effort in the state.

The closing of Washington Capital Management’s land sale to the Brookfield Properties and New England Development joint venture provides a clear ownership path for the next chapter of the former South Weymouth Naval Air Station. With the transaction now on record and early infrastructure work targeted for the near term, the site is transitioning from a long-shuttered military installation toward a large-scale, mixed-use community.

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