Just A Start And Kelly Baker Of Somerville Community Land Trust Acquire Development Site In Somerville For $3.45M

The property asset involved in the transaction is a development site located at 295-297 Medford Street in Somerville, MA. The site was sold for $3,450,000 and is intended for the construction of approximately 50 affordable rental units reserved for low-income households.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $3,450,000
• Buyer: Just A Start & Kelly Baker - Somerville Community Land Trust
• Address: 295-297 Medford Street
• Market: Somerville, MA

Just A Start and the Somerville Community Land Trust are the key individuals behind this transaction, who plan to utilize the site for a development project that focuses on affordable housing solutions for low-income residents.