Weymouth: SouthField Project Changing Hands

SouthField, the redevelopment of the former South Weymouth naval air station into a residential and commercial complex, is changing ownership. It was announced this week that current developer Starwood Land Ventures sold its interest to North Carolina-based LStar Management.

Plymouth Chamber of Commerce President Peter Forman said that although an out-of-state group is taking over the project, two of LStar’s partners are from Massachusetts.

“One of them has done a lot of work on the South Shore in a prior career,” Forman said of one the new partners. “That’s encouraging.”

LStar is the ideal company to see the project through, Forman added, with the original plan for 2600 homes and up to two million feet of commercial and retail space.

“It is a big project, so it needs people who have done big projects with, frankly, some deep pockets or a long timeline, because this is a 20-year build out.”

Forman said that he met with LStar’s two local partners on Monday, and likes the fact that the company isn’t publicly traded, but rather privately held.

“In some ways, that relieves pressure from doing the quick, quarterly turnaround of a project or the build out,” Forman explained. “They have a little more timeline to give themselves to do this right.”

The Chamber of Commerce President believes LStar will ensure SouthField has both residential and commercial use.

“There’s always been a risk that if the developments didn’t see some quick commercial development, they might try to switch this to more emphasis on retail development.

“We have a lot of retail on the South Shore, and it’s been successful,” Forman added. “We would not want to see that project turned into a mall.”

LStar, said Forman, has “no interest in doing that.”


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About Erin Dale

Erin Dale is an Anchor/Reporter for WATD. She is also a New England Newspaper and Press Association (NENPA) award-winning print journalist and previously worked for GateHouse Media.