When will the 1,945 units at 314-420 Dorchester Avenue actually be built?

The Letter of Intent was filed September 10, 2026 and the team is targeting permits by early 2027. Add construction time on four 200 foot towers and the earliest realistic first occupancy is around 2030, with the final building a mid-2030s question. For scale, HYM's Suffolk Downs was approved in September 2020 and has delivered 475 of 10,000 approved units in six years.

Did New York investors really pay $75 million for the South Boston site?

Not in cash. J.T. Magen and Extell already held the mezzanine debt on the parcels and were the only bidders at the March 17, 2026 foreclosure auction. Their $75 million bid was roughly half the $150 million they said they were owed, so it was a lender taking back its own collateral rather than an arms length land sale.

What does South Boston development land actually sell for?

The two genuine arms length trades this year both printed above the auction number. 364-368 Athens Street closed August 21, 2026 at $2,150,000 for a tenth of an acre, about $21.5 million an acre. P&G Gillette paid $99.3 million for 2.4 acres at 232 A Street in Fort Point, about $41.4 million an acre.

Are homes near the Dorchester Avenue site worth more because of the filing?

Not yet. Closed sales in 2026 within a quarter mile of the site averaged $743 per square foot against $981 per square foot a mile away, and the nearest ring closed at 94.7 percent of original ask against roughly 97 percent further out. Proximity to the project is currently priced as a discount, which reflects the industrial character the project proposes to replace.

How many income restricted units would the project include?

Under Boston's Inclusionary Zoning rules for filings after October 1, 2024, 17 percent of units must be income restricted with another 3 percent set aside for voucher holders, so roughly 389 of the 1,945 homes. A February 2026 City Council resolution asking for a temporary rollback to 13 percent was referred to committee and has not moved.

Is a two or three family near Andrew Square a better buy than a condo?

On the 2026 record inside a half mile of the site, small multifamily closed at $459 per square foot against $858 for condos and single family, and at 103.3 percent of original ask against 97.1 percent. At the ring average of $1,190,000 with three two bedroom units renting at $4,014, the gross yield is about 12.1 percent against roughly 5.0 percent for a condo.

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