This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
3 Eaton Place - 3 Eaton Place at City Square
3.91 Acres of Residential Land Offered at $5,250,000 in Worcester, MA 01608
Investment Highlights
- Housing Development Incentive Program (HDIP) Zone
- Structured parking beneath
- Within zoning that permits multifamily development as of right
- Within walking distance to public transit
Property Facts Under Contract
| Price | $5,250,000 | Property Subtype | Residential |
| Sale Type | Investment | Total Lot Size | 3.91 AC |
| No. Lots | 1 | Opportunity Zone |
Yes
|
| Property Type | Land |
| Price | $5,250,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 3.91 AC |
| Opportunity Zone |
Yes |
1 Lot Available
Lot
| Price | $5,250,000 | Lot Size | 3.91 AC |
| Price Per AC | $1,342,711 |
| Price | $5,250,000 |
| Price Per AC | $1,342,711 |
| Lot Size | 3.91 AC |
Description
Kelleher & Sadowsky proudly presents an unparalleled development opportunity in Worcester - City Square. Nestled in the vibrant heart of downtown, this property has the potential to redefine the city’s skyline. Located at 3 Eaton Place, within an opportunity zone, it boasts structured parking beneath the land and is effectively pad-ready. City Square thrives in Worcester’s most dynamic neighborhood. Surrounded by Class A residential, medical, and office complexes, as well as a lively nightlife scene, it epitomizes urban living at its finest. Positioned opposite the AC Marriott and renowned eateries like Ruth’s Chris Steakhouse, The Mercantile, and 110 Grill, it offers unparalleled convenience and access to Routes 190, 290, and 146. The property benefits from zoning that permits multifamily development as of right, with approval for 145 units. Notably, this permit predates Worcester’s Inclusionary Zoning regulations, exempting it from mandatory affordable housing provisions. While zoning allows for a project of over 20 stories, the existing parking garage structurally supports approximately 12 stories of residential space. Thus, there is potential to exceed the current unit count, though any additional units beyond 145 may necessitate the inclusion of an affordable housing component
PROPERTY TAXES
| Parcel Number | WORC-000002-000023BA000000-000001 | Improvements Assessment | $301,600 |
| Land Assessment | $2,821,900 | Total Assessment | $3,123,500 |
PROPERTY TAXES
zoning
| Zoning Code | BG-6 |
| BG-6 |
Presented by
3 Eaton Place - 3 Eaton Place at City Square
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.