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chelsea armoryCOMPLETED DISPOSITION OF STATE-OWNED REAL PROPERTY
FORMER CHELSEA ARMORY: 113 SPENCER AVENUE, CHELSEA

DESCRIPTION OF PROPERTY
The Chelsea Armory property is 1.67-acre site and includes two buildings with a total of 23,600 square feet. The property is located in a densely populated residential and commercial district and abuts a vacant for-sale building and a newly constructed warehouse. The property is only 5 miles north of downtown Boston, and 3 miles northwest from Logan International Airport. The City of Chelsea, Planning & Development Department is actively engaged in attracting sustainable real estate projects that support “smart growth” development principles.

DISPOSITION PROCESS AND ECONOMIC BENEFITS

DCAM consistent with its statutory authority under Section 548 of Chapter 26 of the Acts of 2003 sold the subject property, through public auction to the Chelsea Armory Common LLC for $1.2M on October 26, 2004. The property was formally conveyed and is currently in the City of Chelsea permitting process for development into fifty (50) luxury condo loft units and six (6) family-styled units. The redevelopment of this former state-owned property supports the City of Chelsea goal to establish 1200 units of housing within a three-year period, by 2009. The City of Chelsea has supported the zoning changes for the project which boasts such amenities as off-street parking, private-owner entrances along ground level units, high ciling and over-sized windows, private roof deck, and a private recreation facility in the lower level. The units in this well-landscaped building complex with connecting catwalk will are projected to sell for approximately $240k to $290k.