Hull Redevelopment Authority selects JLL to market unique waterfront development opportunity
BOSTON, MA, October 19, 2016 – The Hull Redevelopment Authority (HRA), tasked with creating a "sense of place" in the coastal Massachusetts community, has hired JLL's Public Institutions team to market its waterfront parcel in Hull, MA. With a variety of potential mixed-use applications including residential, retail, restaurant, hotel, and resort, the Nantasket Beach Development Opportunity offers a rare chance to purchase and improve an historic beachfront site overlooking the Massachusetts Bay. The parcel, which is cleared and ready for development, begins near Water Street and extends approximately 0.3 miles along Hull Shore Drive.
The Nantasket Beach Development Opportunity is one of the most desirable waterfront properties on the east coast and has been actively improved in recent years. The HRA worked with the community and MassDevelopment to complete a pre-development Master Plan for the site, which includes ample open space, a boardwalk and direct access to Nantasket Beach Reservation and the scenic Weir River Park.
"The Hull Redevelopment Authority has worked with various state agencies and consultants to implement numerous upgrades to the Nantasket Beach area and put in place zoning that would allow for an impactful development to be built," said Bartley Kelly, Chair of the Hull Redevelopment Authority. "In addition to the incredible amount of due diligence done on this parcel, the surrounding amenities – public transportation, the World's End Sanctuary, Nantasket Beach – make it a prime development opportunity. The HRA is excited for the opportunity to receive bid proposals that will present transformative projects which will leave an indelible mark in the Hull Community."
In addition to numerous amenities along Nantasket Beach, where the population doubles during peak summer season, the property is just a half mile from the publicly accessible Steamboat Wharf Marina, Hull's oldest working yacht and shipyard. The area is also just a short ferry ride from Logan Airport, Downtown Boston and the Boston Harbor Islands, all reachable from Hull's nearby Pemberton Point. The MBTA commuter train and bus are also just a few short miles away in adjacent Hingham.
"The Nantasket Beach Development Opportunity will give the development community the opportunity to create an unmatched waterfront town center for Hull residents and Nantasket Beach visitors," said Zoe Agnew, Public Institutions Manager at JLL. "With the infrastructure upgrades that have already been made around the parcel and the planning that the community, HRA and DCR has put into the site, we believe that now is the perfect time to offer this parcel to the development community."
A Request for Proposals will be released later this fall. Please visit www.HRARealty.com for schedule updates and additional information about the parcel.
About Hull Redevelopment Authority
The Hull Redevelopment Authority is charged with creating a "Sense of Place" in the Hull community through development that provides tax revenue, open space recreation, job growth, improved business environment, event venues, and parking for Nantasket Beach within an effective and efficient traffic pattern for Hull citizens and visitors. In order to do so, the HRA has established the following principles for their board:
Maintain public confidence and trust in the HRA via transparent communication.
Recognize the value and intention of citizens who offer feedback, both positive and critical.
Communicate board meeting minutes and news with clarity and in a timely manner.
About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
