TREADMARK*

TYPE: 

Mixed Income, Mixed-Use, Transit-Oriented, For-Sale Condominiums

TOTAL DEVELOPMENT COST:

$45 Million

UNITS:

83

RETAIL:

5,000 sf

PROJECTED COMPLETION:

November 2018

Treadmark is a six-story, 83-unit, mixed-use, transit-oriented development in the Dorchester section of Boston, located at the southern end of the MBTA Red Line at Ashmont Station. Home to the Ashmont Tire shop for the previous 40 years, the property was underutilized in the context of considerable new development that was taking place around it, and the long-time owner was eager to sell.

The mixed-income development includes 51 Low Income Housing Tax Credit (LIHTC) rental units, affordable up to 60% of the Area Median Income (AMI), and 32 for-sale condominiums. Four condominiums meet the requirements of the City of Boston’s Inclusionary Development Policy (80-100% of AMI), 16 units are considered workforce housing (affordable to individuals making up to 110% of AMI), and the balance are market rate. The project was permitted through the City of Boston’s extensive Article 80 review process.

Treadmark also includes 5,000 square feet of ground-floor neighborhood retail and 32 spaces for parking (30 garage spaces and 2 surface spaces). Fifty percent of the retail space is being leased to American Provisions, a specialty food shop based in South Boston, while the remaining space will be occupied by other local businesses. New street trees and street furniture, as well as new on-street parking, make added enhancements to the Dorchester Avenue streetscape. Following its sister property, The Carruth, Treadmark is the second major new building to be erected in the Ashmont/Peabody Square area over the past 10 years and will be ready for occupancy in November 2018. (The building was originally slated to be completed in July 2017 but suffered a catastrophic fire and needed to be completely reconstructed.) Once completed, the building will add to the vibrancy and growth that is already well underway in and around the Ashmont/Peabody Square neighborhood.

*NOTE Project completed by Mathieu Zahler as an employee of Trinity Financial.