Curbed Boston reports the demise of surface parking lots in Boston continues as New Boston Ventures, a South End-based developer, recently bought a 14,180-square-foot lot in the Bay Village neighborhood, which is just southwest of downtown for $9.25 million. The parcel will still host cars for at least another year per the lease. The deal was brokered by the Dartmouth Company. “The level of interest from high-quality buyers with creative plans for the development of this site was impressive,” Dartmouth executives David Smookler and Peter Considine said in a statement.
As far as its fate, New Boston Ventures’ Lucas was a 36-unit condo conversion of a former Catholic church in the South End, and its Boulevard on the Greenway, which replaced a four-story building and a 19th-century warehouse, also had 36 condos. So residential does not seem out of the question. New Boston has not responded to a request for comment.
Meanwhile, Boston surface parking lots—big and small, open to the public and otherwise—continue to disappear beneath new developments. This is true of Back Bay, where a five-story retail and office complex is slated for a Newbury Street lot and in Fort Point, where part of an old Gillette lot is due to become a major mixed-use complex with lots of lab space. And on and on.
Part of the trend due to the sheer value of the land—the lots’ owners are cashing in on a booming Boston. The Newbury Street lot—all of one-third of an acre—went for $40 million, for instance.
