Listed by Newmark - Boston
Unpriced
2-8 Harvard Avenue
Details
Property Type Multifamily, Land
Sub Type Apartment Building, Residential
Square Footage 79,010
Net Rentable (SqFt) 79,010
Units 82
Class A
Buildings 1
Ownership Fee Simple
NEWMARK | 82 Unit Fully Permitted Residential Development | Heart of Allston Square | Boston, MA
Marketing description
Newmark Has Been Exclusively Retained to Market 2-8 Harvard Avenue (Aka 1 Highgate Street), With New Approvals as of December 2025, a Fully Permitted Class-a, 82-unit Multifamily Development With Approximately 6,250 Square Feet of Ground-floor Commercial Space, Located in the Heart of Boston’s Rapidly Evolving Allston-brighton Neighborhood.
2-8 Harvard Avenue, Received Updated Approvals to Deliver Modern, Efficient Residential Units Supported by a Destination Retail Corridor, Catering to the Area’s Deep and Resilient Renter Base of Students, Young Professionals, and Institutional Employees. Strategically Positioned Along a Premier Transit-oriented Corridor Within Boston’s Higher Education Corridor, the Property Benefits From Immediate Access to Harvard Avenue Retail Corridor, Boston Landing Commercial Center and Multiple Mbta Transit Lines With Direct Connectivity to Downtown Boston and Cambridge.
The site is exceptionally well-suited for high-density residential development and has recently been approved for no on-site parking, drastically reducing build cost and complexity and taking advantage of the site’s premiere retail frontage. The project also uniquely benefits from a grandfathered approval of only 13.9% affordable, an immense savings from the current 20% requirements, yielding significantly improved long term value appreciation from one of the lowest affordable requirements in Greater Boston.
The surrounding Allston-Brighton submarket continues to emerge as one of Boston’s most dynamic mixed-use districts, driven by significant institutional investment, infrastructure improvements, and large-scale redevelopment initiatives. Nearby projects such as Boston Landing and Allston Yards, combined with Harvard University’s long term expansion plans, are transforming the area into a premier urban gateway with sustained demand for high-quality housing.
2-8 Harvard Avenue represents a rare opportunity to acquire a fully permitted, transit-oriented multifamily development in one of the most supply-constrained submarkets in the country with durable demographics, institutional demand drivers, and long-term upside.
Investment highlights
- Amenity-Rich, Transit-Oriented Location
- Located at the intersection of two of Allston’s primary thoroughfares, the property offers exceptional walkability and immediate access to neighborhood retail, dining, and entertainment. Multiple MBTA bus routes, the Green Line, and nearby commuter rail provide seamless connectivity across Greater Boston, supporting strong renter demand without reliance on vehicle ownership.
- No Parking Requirement
- Development has recently been approved for no on-site parking, a meaningful advantage that reduces project costs, increases design efficiency and improves ground floor activation at a prominent retail corner. This feature materially enhances project economics by replacing costly, low demand parking with active highly sought after retail space.
- Fast-Growing Mixed-Use District
- Allston-Brighton is undergoing significant transformation driven by major public and private investment. Nearby developments include Boston Landing, a recently delivered two-million-square-foot mixed-use campus, and Allston Yards, an upcoming 1.2-million-square-foot project. These initiatives are reshaping the neighborhood into one of Boston’s most vibrant live-work-play environments.
- Strong Boston Demographics
- Allston-Brighton is home to approximately 80,000 residents, with a median age of ~30 years, reflecting a young, educated, and highly mobile renter population. The area’s average household income exceeds $95,000, supported by employment from world-class institutions and a diverse professional workforce. Over 70% of residents aged 25+ hold a bachelor’s degree or higher, underpinning long-term housing demand and rent resilience.
- Knowledge-Driven Economy
- The neighborhood sits within Boston’s premier “knowledge corridor,” anchored by Harvard University, Boston University, and Boston College, all within close proximity. Harvard University continues to execute a long-term expansion of its 189-acre Allston campus, providing a durable institutional demand driver for housing, retail, and services.
- Limited Affordability Requirement
- The project was approved under a previous inclusionary development policy, which required only 13.9% of units be restricted as affordable, a significant decrease from the currently required 20% of all square footage. This represents one of the last project of its kind to be approved with such a low level of affordability and represents a significant boost to the projects immediate economics and long term appreciation.
- FAR: 4.3
Listing Contacts
Listed by Newmark - Boston
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Zoning
ART51_HARVARD-AVENUE-CC-1 CommercialRetail CommercialCommunity Commercial
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View all 207 uses Last updated Jun 22, 2026 For deeper zoning details, reports are available at Zoneomics
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