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Land Development Marketing Brochure Hull Redevelopment Authority Nantasket Beach Development Hull Redevelopment Authority | About 1 Index Executive summary Property description Property highlights Market section Hull Redevelopment Authority | Executive summary 3 JLL has been exclusively retained to offer an approximately 166,834 square feet (3.83 acres) development site on Hull Shore Drive along Nantasket Beach in Hull, MA. The site presents a rare opportunity for a new development to leave an indelible mark in the Nantasket Beach area and the Hull community. Prominently located across from Nantasket Beach, the site provides uninhibited views of Massachusetts Bay. Being just 20 miles south of the city, the site will provide future residents with optimal access to the top employment centers in the Greater Boston, Mass Pike and Route 128 areas, Executive as well as easy access to top retail and dining options such as the Hingham Shipyard, South Summary Shore Plaza and Marina Bay. • Rare Development Opportunity in Suburban Massachusetts Town • Access to Major Employment Center • Transit Oriented Location • High Quality Area Amenities Hull Redevelopment Authority | Property description 5 Property Zoning summary The Property lies within the Commercial Recreation A Zoning District and falls within description the Nantasket Beach Overlay District. Commercial Recreation A Zoning District Permitted uses Dimensional regulations • Hotels, Motels, Inns, Resorts • Minimum lot area: 10,000 square feet The town of Hull actively supports • Residential multi-family dwellings • Minimum frontage: 100 square feet this parcel being developed. The • Marinas • Maximum height limit: 40 feet Hull Redevelopment Authority • Restaurants has taken steps to improve the • Convenience Shopping • Residential single-family dwellings surrounding area and create zoning that promotes development. This parcel represents an opportunity for a creative development plan Nantasket Beach Overlay District that engages the community and The purpose of the Nantasket Beach Overlay District is to stimulate mixed use redevelopment of commercial and capitalizes on the transportation multi-family property at scales and densities appropriate for an historic beachfront community in order to revitalize the infrastructure and natural beauty economy and help balance the commercial and residential tax base while protecting people, property and resources. that surrounds it. Hull Redevelopment Authority | Property Highlights 7 Boston’s leasing activity is growing Property ahead of the national average Access to major employment Highlights Boston leasing activity center and destinations Just twenty miles south of the city, the development parcel provides easy access to all of the high-quality Rare beach front property employment opportunities south of Boston and 32% Growing development opportunity in the Mass Pike. As economic expansion continues Stable Massachusetts town 68% throughout the Greater Boston area, major Hull is a scenic New England town that is currently employers are establishing a presence in nearby undergoing a revitalization period. Much of this markets such as Quincy and along Route 128, where revitalization is occurring around the development numerous tech firms are located. Greater Boston’s site at Nantasket Beach. Working with the US Leasing activity GDP has grown at a faster rate than the national Department of Conservation and Recreation, the average. The growth in the job market has led to town has been able to upgrade accessibility to high demand for housing throughout the Greater and from Nantasket Beach, performed upgrades Boston area. Because of this, leasing activity in the Growing to the bath houses and pavilions in the area, and 44% Greater Boston area has outpaced leasing activity Shrinking made dramatic improvements to the seawall and 50% on a national level. Additionally, the property sits just boardwalk along the beach. With over 35,000 annual Stable off of Route 3, which offers direct access to some parking passes given out in 2013, Nantasket Beach 6% of the best destinations in southeast Massachusetts has become one of Massachusetts’ most popular including Scituate, Duxbury, Plymouth Plantation, and summer destinations. Cape Code and the Islands. Hull Redevelopment Authority | Property Highlights 9 Area amenities • Nantasket Beach • MBTA 714 Bus Line 3 4 5 • Hingham-Hull Ferry 1 2 • Nantasket Junction 6 7 1. Jo’s Nautical Bar 2. Coast Guard Station (Point Allerton) 714 3. Hull Life Saving Museum 4. Hull Yacht Club 8 5. Nantasket Beach Saltwater Club 11 10 9 6. Spinnaker Island Condominiums 14 7. L Street Pizza 12 8. Sunset Bay Marina 13 15 16 18 20 23 9. Weinberg’s Bakery 10. Riddles Supermarket 24 22 21 19 11. Nantasket Health Mart Pharmacy Prime transit oriented location 17 12. Nantasket Seafood The Property is conveniently located adjacent to 13. Saltwater Diner 25 Nantasket Beach with beautiful and uninterrupted 14. Development Area views of Massachusetts Bay and out into Boston 15. Nantasket Beach Resort and Conference Center 16. The Red Parrot Harbor, the Weir River Estuary, and World’s End 17. Jake’s Seafood Restaurant 714 Reservation. There is convenient access to a 18. Paragon Carousel 3A number of community amenities including excellent 19. Lucky Lemons 3A 20. Fascination restaurants, shopping and tourism sites. The NANTASKET 3A JUNCTION 21. Joseph’s Pizza Property is also conveniently located to numerous 3A 3A 22. Schooner’s on Nantasket Beach 228 transportation options into the City of Boston 23. Toast including the Hingham-Hull Ferry, Route-3A, and the 24. Josephine’s Bed and Breakfast 3A Nantasket Junction MBTA Commuter Rail Station. 25. Nantasket Hotel at the Beach Hull Redevelopment Authority | Market section 11 Market section Hull revitalization Hull is not only focused on being a prime summer destination, but also continues to grow as a place for full-time residents. A hotel/resort was recently built next to the development parcel and numerous restaurant and retail shops exists as you move along Hull Shore Drive and Nantasket Avenue. Hull’s year-round population was 10,542 per the 2010 U.S. Census and its median household income is $77,440. The median home sales price in Hull is $315,616 and 203 properties were sold in the town last year. Boston Market Overview The Most Balanced Economy Boston is the largest city in New England and ranks amongst the top cities as a global economic hub. At the heart of Boston’s character is a legacy built on innovation and creativity. With a Hull Redevelopment Authority | About 13 Boston metro 5 years of GDP growth (year over year) Boston National GDP 3.0 total of seven top 50 schools anchored by MIT, Harvard and 2.5 world renowned research institutes and teaching hospitals, the 2.0 metro Boston area is a true knowledge-driven economy. From education to healthcare, life sciences, finance, and high tech, 1.5 this metro area has evolved into a truly diversified economy 1.0 that is attracting top talent. 0.5 Best US Growth Story 0.0 -0.5 Greater Boston has experienced steady growth for over two -1.0 years after recovering all jobs lost from the recession. In fact, 2011 2012 2013 2014 2015 Boston is employing more individuals than it has at any time in its history. Since 2010, the city has also been experiencing a boom in population growth at a pace double that of the Unemployment Lower than National Average at 4.5% rest of the state and well above US populations growth. This surge in population is driven by a broad-based recovery across The unemployment rate in Greater Boston, currently 4.5% has consistently remained lower a number of industries. Companies of all sizes want to be in than the national average over the past 20 years. The unemployment rate for those who hold Boston to gain access to top talent. This population growth a bachelor’s degree is even lower at 3.9%. Although Greater Boston shed 5% of its jobs during has propelled the city into a new transformative phase with the Great Recession, it was one of the first markets in the nation to fully recover. Employment retail, residential, residential, and infrastructure development officially surpassed its pre-recessional level in 2012. The pace of recovery was double the reaching now multi-decade highs. national average, making Boston one of the best economic rebound stories in the nation. Mike Travaline Michael Coyne Travis D’Amato Sr. Analyst, Managing Director, Managing Director, Public Institutions Residential Residential www.HRARealty.com +1 617 531 4241 +1 617 531 4298 +1 617 531 4156 [email protected] [email protected] [email protected] Tim Eachus Frank Petz Managing Director, Managing Director, Public Institutions Capital Markets +1 202 719 5658 +1 617 316 6440 [email protected] [email protected] Hull Redevelopment Authority Nantasket Beach Development.
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