New 550-Unit Apartment Development a Gateway to Lynn

Special to the Lynn Journal

Newmark Knight Frank (NKF) announces that it has been exclusively retained by South Harbor Associates LLC to sell 800-810 Lynnway, a fully-entitled, 550-unit, 100 percent market-rate apartment development site located less than 10 miles northeast of Downtown Boston in Lynn, Massachusetts. NKF Co- Head of U.S. Capital Markets Robert Griffin, Executive Managing Director Michael Byrne, Managing Director Thomas Greeley, Associate Casey Griffin, Director Devlin Man and Senior Financial Analyst Nick Dailey will oversee the marketing and sale process.

Owner Pat McGrath of South Harbor Associates LLC said, “I have owned the property for 13 years and have worked on the approval process for the last three years. This is an exciting project for the City of Lynn and I look forward to seeing the development move forward and becoming the gateway into the City.”

Encompassing 8.46 acres of land directly off the General Edwards Bridge and along Lynn Harbor, 800-810 Lynnway is envisioned to accommodate four buildings offering studio, one-bedroom and two- bedroom apartment layouts complemented by modern community amenities, 10,000 square feet of publicly-accessible retail space and podium garage parking. Additionally, the site will benefit from the 31-acre Lynn HarborPark, a planned waterfront public park slated to be completed by 2023 just steps from 800-810 Lynnway.

“We are thrilled to be working with South Harbor Associates on the potential sale of 800-810 Lynnway,” said Greeley. “We expect tremendous interest in the fully-entitled site, which allows developers to take a phased approach to the delivery of more than 500 waterfront units.”

South Harbor Associates LLC has worked closely with City Council President Darren Cyr, Ward 6 Councilor Fred Hogan, Executive Director of the Economic Development & Industrial Corporation (EDIC) James Cowdell, Mayor Tom McGee, State Representatives Daniel Cahill and Peter Capano, State Senator Brendan Crighton, Lynn Housing Authority and Neighborhood Development Executive Director Charles Gaeta, along with all current and prior city councilors to thoughtfully plan 800- 810 Lynnway’s development in keeping with the city’s vision for the Lynnway and the waterfront.

800-810 Lynnway is included within the scope of Lynn’s Waterfront Master Plan, which will reimagine 300 acres of underutilized land along the Lynn Harbor via brand-new residential, commercial and industrial development. The area surrounding the property is therefore undergoing a “residential renaissance” with 2,750+ residential units currently under construction, planned for development or proposed for consideration.

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