WEYMOUTH, MASS. — A joint venture between New York City-based Brookfield Properties and Boston-based New England Development has purchased the site of the former South Weymouth Naval Air Station in metro Boston. The co-developers acquired the 1,400-acre site from Washington Capital Management for $65 million.
Brookfield and New England Development are planning a mixed-use redevelopment that would include 6,500 housing units, along with about 2 million square feet of commercial and retail space. The project will span more than 1,400 acres across three municipalities — Weymouth, Rockland and Abington, Mass.
The Weymouth City Council has unanimously approved the land reuse plan, which also was approved by the towns of Rockland and Abington. The State of Massachusetts has also expressed strong support for the redevelopment plan.
The redevelopment will mark the largest residential and commercial project to date in Massachusetts, according to John Twohig, executive vice president of New England Development.
In addition to the commercial and residential components, the proposed project will preserve more than 880 acres of open and restricted space that can be activated for both public recreational use and wildlife preservation.
Situated about 16 miles south of Boston in Norfolk and Plymouth counties, the South Weymouth Naval Air Station was commissioned during World War II and closed in 1997. The development site has been the subject of multiple development initiatives over the past three decades, but none have come to fruition.
“This redevelopment will create thousands of new homes, support good-paying jobs and transform a long-underutilized site into an engine of opportunity for the South Shore,” says Massachusetts Gov. Maura Healey.
As part of the project, Weymouth, the Southfield Redevelopment Authority (the governing municipality for the military base) and the co-developers have secured more than $35 million in state and local infrastructure funding for water, wastewater and road improvements. Infrastructure work is expected to begin this fall.
Additionally, the team is working to connect Weymouth to the Massachusetts Water Resources Authority (MWRA) water supply through a 6.7-mile pipeline, which is scheduled for completion in 2031.
Founded more than 50 years ago, New England Development has developed and operated properties in the retail, residential, hotel, office and outlet mall sectors.
Brookfield Properties operates a portfolio spanning more than 400 million square feet in virtually all real estate sectors on behalf of Brookfield Asset Management (NYSE: BAM).
— John Nelson