The MBTA’s effort to unload more than 7.5 acres of development parcels around the Forest Hills T station in Jamaica Plain largely fell flat this week.

The offering’s two largest parcels, totaling nearly 6 acres, failed to attract a single bid. A smaller pair of parcels, totaling 1.5 acres along Washington Street, attracted a single bid, from Jamaica Plain-based WCI Corp.

Banker & Tradesman reported recently that the offering was attracting scant attention, prompting the T to extend the bidding deadline in an attempt to drum up more interest. Several development sources cited high costs, uncertain finances and the specter of a costly environmental cleanup as reasons they believed the offering might land with a thud.

WCI bid $835,000 for development rights on the offering’s Parcels V and W. That’s nearly twice the bid floor Transit Realty Assoc. established for the parcels, but well short of the millions the T had hoped to generate with the land sale.

Boston Redevelopment Authority planners envisioned developers building 46 units of housing and up to 14,000 square feet of retail on WCI’s parcels.

Developers Express Little Interest In T’s Forest Hills Parcels

by Banker & Tradesman time to read: 1 min
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