The 189-unit 100 West St. project in Needham is being developed by Greystar and Haseko. Image courtesy of Cube3 Architects
Prolific national multifamily builder Greystar says it’s ready to break ground in Needham on one of the larger projects proposed so far under the state MBTA Communities law.
An LLC controlled by the developer paid $40 million for a former assisted living facility at 100 West St. on Jan. 6, according to Norfolk County records, using a $69.51 million mortgage from Japan’s largest bank, MUFG. The seller was an LLC controlled by Ohio-based healthcare REIT Welltower.
Greystar said it is partnering with Haseko North America, the US subsidiary of Japan’s largest condominium construction firm, on the project. The two companies previously worked together on a California multifamily development.
Plans call for demolishing the existing 100 West St. building and replace it with a 189-unit apartment complex permitted under zoning Needham passed to comply with the state MBTA Communities transit-oriented zoning law.
The nearly block-sized site sits across the street from the Needham Heights MBTA commuter rail station in one of the Boston suburb’s main retail neighborhoods.
Greystar’s announcement said the project will be built to Passive House standards and will include amenities like a fitness center, a library, a lounge space, a package room with cold storage. a golf simulator, a dog run, a playground and community garden. Cube3 is the project architect and delivery is anticipated for fall 2027.
“Greystar is delighted to commence work on 100 West Street to deliver more housing at a time where the need has never been greater,” Greystar’s Boston-based Senior Managing Director Gary Kerr said in a statement. “Through its MBTA Communities Act rezoning, the Town of Needham has made the entitlement process incredibly straightforward, and we are grateful for their engagement to this point. Greystar is also excited to build on the relationship with Haseko, and we appreciate their continued partnership.”
Needham’s MBTA Communities zoning represents a diminished version of the town’s original plan, which was repealed after a town-wide referendum a year ago. The final zoning can theoretically accommodate just over 1,900 new multifamily units, including the 775 already within the district’s borders.
New research by The Boston Foundation finds that only around 7,000 new units are currently in development in MBTA Communities districts, more than half of which are far from transit locations.
