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Anchor Line Sells Allston Development Site for $19.75M

Image courtesy of Perkins + Will

Boston-based Anchor Line Partners has sold a pair of Allston properties which recently received approval for a 152-unit apartment development.

Conshocken, Pennsylvania-based Exeter Property Group paid $19.75 million for 449 Cambridge St. and 2 Emory Road, according to a Suffolk County deed filed Dec. 30.

The 0.75-acre site is currently occupied by an auto repair shop and surface parking. Plans for a 166-unit complex, including 93 compact living units, were rejected by the Boston Zoning Board of Appeal in 2020. Developers redesigned the project without compact units and won approval from the ZBA in July and Boston Planning and Development Agency in November.

The development will comprise two 7-story buildings totaling 166,400 square feet. The project includes 26 income-restricted units, of 17 percent of the total.

Anchor Line acquired the properties in 2019 for $10 million.

Exeter Property Group is a division of Stockholm-based EQT Group AB.

B&T Daily