Seven of the eight new luxury townhouses that have been built at 22-36 Grampian Way atop Savin Hill this year are already under agreement – some of them for well above their asking price. The Savin Heights development – built on what was once a historic estate owned by sporting goods tycoon George Wright – is the latest indication of a sizzling hot real estate market in Dorchester.
Michael Welsh, a realtor who is marketing the townhomes exclusively through his Welsh Group firm, said that the interest in the homes has come largely from professional couples from other Boston neighborhoods who are looking to relocate but want to stay in the city.
“The buyers so far are either moving from South Boston, or they are opting for this location instead of South Boston because it’s a slightly better value and a very nice neighborhood,” said Welsh. “People love the proximity to the Red Line and the beach.”
The homes, all of which have four bedrooms and 2.5 baths with third-floor master suites, were priced between $749,000 and $859,000. The difference in the price range hinges mainly on the various views afforded from each home. Each of the townhomes has about 2,000 square feet of living space and a commanding view of Dorchester and the Boston skyline from the ledge outcrop atop what early Dorchester settlers called Rocky Hill. Each home also comes with two parking spaces.
Welsh said that the $820,000 agreement in place for 28 Grampian Way will make it a record sale for the Savin Hill neighborhood. There is one townhouse – 30 Grampian Way — that has not yet been sold, said Welsh. The homes were built by George Georges, a builder who has mainly focused his trade in Charlestown and downtown Boston.
In marketing materials prepared by Welsh, Savin Hill “Over the Bridge” is described as “the next frontier for Boston’s residential developers as the price and availability of land in South Boston provides fewer options each year. As the older homes continue to be renovated and new construction takes place over the coming years, there is good reason to believe that home values will continue to increase at a significant pace,” reads a post at the project’s website, savinheights.com.
The homes replace what was once a stately home and adjacent barn, circa 1871, that were most recently owned by the Tomasini family. The properties had been designated as landmarks by the city of Boston, but were razed in 2013 after the City Council voted to allow for their demolition. That cleared the way for the sale and redevelopment of the property. According to Zillow.com, the property was sold in May 2014 for $1.5 million.