Boston – Core Investments, Inc. announced a joint venture with Sterling Bay for the ongoing development of On the Dot, Core’s over 21-acre mixed-use development for a former industrial area along Dorchester Avenue in South Boston. On the Dot is scheduled to be built in phases over the next 10-15 years.
“We could not be more enthusiastic about joining with an experienced group of professionals like Sterling Bay, with its track record of success in creating welcoming and popular new spaces and experiences for people across the country,” said Dave Pogorelc, founder and chief executive officer of Core Investments. “As we pivot from approvals to seeing our plans materialize, Sterling Bay is just the right partner for our team.”
Sterling Bay will share in the investment, direction and development of On the Dot, located in the Andrew Square neighborhood in South Boston. The five-block area was fully permitted earlier this year by the Boston Planning and Development Agency for 3.8 million sq. ft. in six commercial office or lab buildings, five residential buildings with about 1,365 units, multiple ground-floor retail and restaurant spaces of about 150,000 sq. ft., and six extensive green spaces.
“We have a passion for integrating sustainability into mixed-use developments and look forward to working with Core Investments,” said Andy Gloor, chief executive officer of Sterling Bay. “More than just office and residential buildings, On the Dot’s retail, restaurant and green spaces along with the life sciences cluster make it a forward-thinking development that is going to further transform this hot South Boston neighborhood.”
The Boston Planning and Development Agency’s board unanimously approved the 21-acre, five-block Master Plan, including a nine-acre block near the Andrew Square MBTA Station that is the first phase. Four buildings on that initial phase will include three for commercial space and one for residences.
On the Dot aligns with the BPDA’s 2016 PLAN: Dot Ave., the result of an extensive neighborhood planning process, and is envisioned as being consistent with the 21st century needs of current and new residents. The Master Plan outlines steps to improve climate resiliency by raising site grades, complying with Coastal Flood Resilience Overlay District requirements, and constructing high-performance buildings to achieve levels of resiliency, sustainability and energy performance that will be attractive to tenants and residents.
