Cleveland Circle Will Finally Be Developed

Boston Business Journal shared by Margaret Szerlip November 19, 2014 Newton, MA.  Keep Calm and Sell Real Estate
Some established players are teaming up to redevelop site of the former Circle Cinema at the corner of Beacon Street and Chestnut Hill Avenue in Boston.
Boston Development Group and National Development said in a news release that they’re forming a joint venture to do the work and that Charles River Realty Investors will provide the capital.
Ted Tye, managing partner of National Development, said in a prepared statement: “We are pleased to help bring development of this landmark site to fruition. There has been a great deal of effort put forth to date from the City of Boston, Town of Brookline, and the local community. Our combined team will work to move the project forward, with an anticipated mid-2015 construction start.”
BDG’s project manager on the job is John Meunier.
According to this week’s prepared statement, the project will be “similar” to a previously proposed 162-guest-room, 92-residential unit project. There also is likely be retail fronting to Chestnut Hill Avenue.
Despite proximity to Boston College, or perhaps because of it, the residential units will be off-limits to younger renters. The developers said in their news release that the project will be age-restricted “in part to address neighborhood comments.”
“We see a huge need for urban residential alternatives for active senior adults,” Tye said.
The architect for the project, according to the news release, will be Elkus Manfredi Architects. Stantec is set to do civil engineering. Cranshaw Construction of Newton is involved in early work.

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