Newton-based National Development has bought another set of parcels at the intersection of Old Colony Avenue and Dorchester Avenue in South Boston as it continues assembling property for what is expected to be another large project.
The property includes the block bounded by West Seventh Street, C Street and Old Colony Avenue and parts of the block between Old Colony Avenue, C Street, D Street and Baxter Street and part of the block bounded by C Street, D Street, Baxter Street, West Seventh Street. It joins at least three other parcels the company owns around the intersection, which sits halfway between the Red Line’s Broadway and Andrews Square stops. Together, the parcels now comprise just over 7 acres.
According to information filed in the Suffolk County Registry of Deeds, National Development paid Cole Development LLC $12.68 million.
A 2016 study by the Boston Planning and Development Agency projected a rezoning proposal it is working on could generate as much as 16 million square feet of new development on 144 acres between the MBTA’s Broadway and Andrew stations over the next 20 years.