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Investment Highlights

  • Rare development opportunity in the heart of Newton Highlands Village, just steps to local shops, restaurants, and the MBTA Green Line
  • 7,808 sq ft of land within Newton’s newly adopted VC2 Village Center zoning district

Executive Summary

Under Newton’s VC2 Village Center zoning, lots under 15,000 sq ft offer the most straightforward development path. VC2 allows buildings of up to about 10,000 sq ft per floor and heights of approximately 3.5 stories (about 56–58 ft depending on roof design). Fourth level needs to be stepped back. Village-style setbacks may allow 0 ft front and side setbacks and a 5 ft rear setback, with parking typically located to the side, rear, or underground. Because sites under 15,000 sq ft generally follow a lighter administrative review process, they are often considered the most predictable development path. Larger sites between 15,000 and 29,999 sq ft can achieve similar building scale but typically require Planning Board site plan review. As long as you meet the ordinance you can do it all without the need for a special permit. Buyers and their agents to do due-diligence. This listing is for one of the two properties available. The property can also be developed independently however the best use is together with 1629 Centre Street. Please do not walk the property and see following disclosure: Ask agent a Solar Panels Lease Buyout.

Property Facts Under Contract

Price $2,800,000
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Mixed Use
  • Multifamily
  • Apartment Units - Condo
Total Lot Size 0.17 AC
Cross Streets Walnut
Zoning MR2/VC2 - Prime VC2 zoning allows 3.5-story multifamily housing by right under 15k SF. Larger sites allow similar density with Planning Board review.

1 Lot Available

Lot

Price $2,800,000
Price Per AC $16,470,588.24
Lot Size 0.17 AC

Level developable lot in the VC2 zone. Allows for density. Similar sized abutting lot next door also available. Two lots available! This COSTAR listing is for 1623-1625 Centre Street ONLY. 1629 Centre also available and listed by Coldwell Banker.

Description

Rare development opportunity in the heart of Newton Highlands Village, just steps to local shops, restaurants, and the MBTA Green Line. This property at 1629 Centre Street sits on approximately 7,808 sq ft of land within Newton’s newly adopted VC2 Village Center zoning district, which encourages higher-density village housing through reduced setbacks, increased lot coverage, and building heights of up to approximately 3.5 stories. The property is being offered primarily as a development opportunity, with zoning that allows multifamily housing by right without the need for a special permit, making it an attractive project for builders and developers seeking to take advantage of Newton’s new Village Center zoning. While the existing two-family home may offer value as an investment property, the highest and best use may be redevelopment. Additional value may be realized when combined with the adjacent parcel located at 1623-1625 Street (currently listed in MLS), creating a rare assemblage opportunity for a larger village-scale development in one of Newton’s most desirable locations.

Moderately walkable
70/100
Exceptionally drivable
90/100
Good public transit
70/100
Moderately bikeable
60/100

Property Taxes

Property Taxes

Parcel Number
NEWT-000052-000037-000018
Land Assessment
$678,700
Improvements Assessment
$430,100
Total Assessment
$1,108,800
  • Listing ID: 39718368

  • Date on Market: 3/10/2026

  • Last Updated:

  • Address: 1623-1625 Centre St, Newton, MA 02461

Contact the Sale Advisor

1623-1625 Centre St - Premier Newton Development Opportunity

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