Developer buys proposed site of 300 mixed-income condos in Shrewsbury for $5M
Image | Screenshot Shrewsbury Media Connection
Conceptual rendering of the proposed Emerald Run development in Shrewsbury
The future site of a proposed mixed-income condominium development in Shrewsbury has been sold for $5 million to the developer behind the plan.
A 40-acre site at 33-69 Green St., the proposed site of the 300-unit Emerald Run condominium community, was purchased on Thursday for $5 million by Westborough-based developer Pulte Homes of New England, according to Worcester District Registry of Deeds records.
Pulte first proposed the project in March 2023. The company’s plans call for the construction of six four-story buildings, featuring 75 units of Chapter 40B affordable housing. The site was purchased from Dippel Realty Trust of Norwell.
Each building would contain 23 one-bedroom units, 22 two-bedroom units, and – as required by the 40B program – five three-bedroom units, totalling 10% of the whole project, said Mark Mastroianni from Pulte Homes during a 2023 Shrewsbury Select Board Meeting.
The main 38.7-acre parcel involved in the proposal was given a 2024 tax assessment value of $634,600, according to Town of Shrewsbury property records.
David and James Stubblebine of The Stubblebine Company in Lexington served as the listing brokers for this transaction.
Eric Casey is a staff writer at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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