A permit to erect a new 4-story, 9-unit mixed-use building has been issued for the site of the old Fireside Tavern on Hyde Park Avenue. J.J. Foley's Fireside Tavern closed in March 2022. The permit to construct a 12,306 sq. ft. building at 28-30 Hyde Park Ave.
Centre Street commercial spots don't stay empty for long. But this one at 753 Centre St., has been empty for almost three years. Optical Designs moved from the location in February 2020, and no other business has moved into this commercial location located across from Dunkin' at the corner of Centre and Thomas streets. So what would you like to see go in this location? If it's a restaurant, renovations would need to be made to create a kitchen.
The biggest question for the real estate market across the country is how will the historic jump in interest rates affect home sales for 2023?
Several veteran local real estate agents answered that question, and provided their outlook of the JP market. Before diving into numbers, one thing remains true. “Jamaica Plain remains a desirable Boston neighborhood,” said Constance Cervone of Cervone + Deegan and Associates at Coldwell Banker. But the market is shifting due to the economic outlook, interest rates, and COVID remains an issue, said Cervone.
The big thing to look at, is indeed the effect of the interest rate. Interest rates doubled in 2022, going from the low 3% range in January for a 30-year fixed rate mortgage, and peaking in October to the low 7% range.
Jamaica Plain real estate prices continue to rise. Take for example the recent sale of a uninhabitable Union Avenue house that was destroyed in a fire in December of last year. It was priced at $500,000, and sold for $580,000. The house at 24 Union Avenue caught fire on Dec. 26, 2020, and one person died in the fire. The fire caused an estimated $350,000, and was investigated by BFD's Fire Investigation Unit.
When neighbors discuss what businesses they want, grocery stores are a perennial favorite. And that's the plan for the re-development of the Doyle's block: A small grocery store, in addition to a new restaurant and condos. So far, however, no grocer has agreed to move in to what would be a 4,178 square-foot space at the corner of Washington and Gartland. That doesn't trouble Lee Goodman, the JP native who's heading up the renovations. Goodman told Jamaica Plain News he'd sent the plans to six or eight grocers.
Construction recently started on the new Holtzer Park housing development which will include 62 new affordable rental units in Jackson Square. The development is part of the Boston Housing Authority’s (BHA) 125 Amory Street redevelopment. The project is a joint venture between The Community Builders, Jamaica Plain Neighborhood Development Corporation (JPNDC), and Urban Edge, which are renovating and preserving 199 public housing units as affordable housing, repurposing BHA offices into 12 new affordable units, and building approximately 133 units of affordable housing and 214 market-rate apartments in three new buildings on adjacent BHA-owned property. Holtzer Park will create 41 affordable units for households whose income is less than $76,740 for a family of four and are supported with Low Income Housing Tax Credits, according to a press release. An additional 21 of units will have project-based vouchers to provide more affordability for households whose income is less than $38,350 for a family of four.
The Brynx apartment building recently was recognized by Preservation Massachusetts for their 2020 Preservation Awards. Located on South Huntington Avenue, and steps from Olmstead Park, The Brynx is a two-building rental apartment community. It combines both the 1920’s Shepley Bulfinch-designed details and character of the original structure—formerly known as the Goddard House—with the contemporary feel of the newly-built property. The Brynx was honored as one of the best transformative projects that revitalizes the best of the past for something good for the future. Honoring the original architecture and timeless features, the team at The Brynx remixed the property for modern living, nearly 100 years after the building first opened.
The building of one of Jamaica Plains' favorite restaurants is up for sale, and being marketed as a multi-family and commercial investment. 379A-381 Centre St is a four-unit building with two commercial spaces with current tenants Miami Restaurant and Atlantic Travel, and two residential units. All tenants are staying in the property by Massachusetts law because leases survive the sale of real estate. The new owner must adhere to the terms of the lease, even if it is signed by the previous owner. According to the Assessing Department, the property was assessed for $1,078,200 in 2020.
There will be a community meeting update about the development currently under construction at 632-638 Centre St. on Nov. 10. Back in 2017 a one-story building was razed at this location and it's been a slow construction process since then. There is currently a four-story shell of a building at the site.
There aren't a lot of bakery-real estate offices. But the global pandemic has created a new world that led the delicious croissants of Fiore's Bakery to share the same space with Ken Sazama Real Estate. After being closed for five months due to the Coronavirus, Fiore's Bakery reopened with a twist -- a new business roommate as Sazama Real Estate set up shop where customer seating used to be. Charlie Fiore and Ken Sazama talked about what led them to this odd coupling of their businesses. Q: What made you come to this interesting business arrangement?