This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
21 Allen St
Somerville, MA 02143
The Ropewalk · Land For Sale
·
0.41 AC
Investment Highlights
- Opportunity Zone
- A+ Location in the heart of Union Square
- Shovel Ready
Property Facts
| Property Type | Land | Proposed Use | Multifamily |
| Property Subtype | Residential | Total Lot Size | 0.41 AC |
| Zoning | UR - Urban Residence: Mid-rise residential zoning | ||
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 0.41 AC |
| Zoning | UR - Urban Residence: Mid-rise residential zoning |
Description
The Ropewalk is a 69-unit multi-family development in the heart of Union Square, adjacent to the newly opened MBTA Station. The arrival of the Green Line Transit Station has precipitated a rapid transformation of the Square. The Square's $2 billion, 3.8 million SF master-planned development, coined USQ spans 20 acres and includes 2.4M SF of lab and innovation space,150,000 SF of retail and restaurant space, and 4.7 acres of vibrant open spaces. Phase I was delivered by Magellan Development in Q3 2023 with future phases set to break ground in 2024. Boynton Yards and Somerville Gateway which border Union Square to the east and south are complimentary master-planned developments adding a combined 4.1 million SF state-of-the-art life sciences/biotech, hotel, and retail spaces to the broader neighborhood. The project is in a qualified OZ and has been permitted as a Passive House project; set to achieve the highest level of sustainability. Approvals allow for either apartments or condos.
