Very disappointing news out of Dorchester.
The developer of the Schoolhouse at Lower Mills is turning the residential building into rentals, a victim of the slow real estate market.
Five of the 62 units were under agreement.
The project has had a good amount of positive press (some from my blog!) and the prices were right, but there just weren’t enough buyers.
The development is actually two buildings – an existing schoolhouse (which the developer had to move …) and a new building.
Leasing activity is scheduled to begin soon, once the developer has hired a manager.
Renters never had it so good. Great finishes, on-site parking, convenient location, too.