A Business and Redevelopment Outline for the Re-Use of a Prime Site in South Boston
Name
Proman-proman-msred-cre-2025.pdf
Description
Thesis PDF
Size
3.52 MB
Format
Adobe PDF
Checksum (MD5)
8b43e14b852b102a9d6ebc508c635460
Author(s)
Proman, Zachary D.
Advisor(s)
Torous, Walter N.
Date Issued
February 2025
Publisher
Massachusetts Institute of Technology
Abstract
This development and business plan considers the neighborhood context and current market conditions characterizing the subject site’s redevelopment potential. The subject site, further defined in this thesis, is a prime parcel of land in the South Boston neighborhood of Boston, MA currently improved and used for quick-serve restaurant operations. Proximate to the Seaport, Fort Point, and Dorchester, South Boston is surrounded by demand drivers resulting in explosive growth that make it one of the most desirable and expensive housing submarkets in the entire City of Boston. Development considerations are fully defined in the report including zoning, equity, financial projections, ground lease, and market-level factors. A conclusion is made on the feasibility of the proposed project with recommendations for next steps resulting from the modeled base-case scenario. Market assumptions and any unresolved development issues are clearly identified and discussed.
MIT Department
Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development.
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In Copyright - Educational Use Permitted
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