A joint venture between Brookfield Properties and New England Development has paid $65 million to Washington Capital Management for the company’s land at the former South Weymouth Naval Air Station in Massachusetts.
Slated to become the largest mixed-use project in the state, the redevelopment will feature 6,500 housing units and approximately two million square feet of commercial and retail space. The partnership plans to redevelop the 1,400-acre site spanning across Weymouth, Rockland and Abington.
Weymouth, Southfield Redevelopment Authority—which is the governing municipality for the Base—and the master developer have received more than $35 million in state and local infrastructure funding. The financing will be used for water, wastewater and road improvements. The three municipalities are working towards connecting Weymouth to the Massachusetts Water Resources Authority water supply through a 6.7-mile pipeline, which is scheduled for completion by 2031. Infrastructure work is slated to begin this fall…