City Realty Proposes 1.2M SF Mixed-Use Project In Chestnut Hill
City Realty Group has filed plans for a major new mixed-use development on the site of the Chestnut Hill Office Park in Brookline.
The 1.2M SF project would be anchored by a 20-story condominium tower and a 200 to 250-room hotel, Banker & Tradesman reported. The project includes a 13-story building including medical offices and senior housing as well as a 12-story apartment building. Both buildings will include retail space on the two lower-story floors.
The developer acquired the property in May for $41M. The 5.3-acre site includes four buildings totaling 120K SF at 1280-1330 Boylston St.
The project is part of a larger effort in Brookline to rezone the land on Route 9 to attract new uses and compete with neighboring shopping destinations along the road in Newton. The town's Chestnut Hill Commercial Area Study is examining the opportunities for new commercial tax growth along the corridor.
Just blocks away in Newton, WS Development's The Street has attracted several major eateries and fashion chains, and New England Development's Chestnut Hill Square is anchored by a Wegmans.
Brookline residents and leaders showed a preference for site uses not seen in the area, including hotel space, meeting space, senior housing and mixed-income housing.
The proposal is scheduled to be voted on at a Brookline annual town meeting in May. The developer estimates the project could generate $9M a year in new property taxes, much higher than the $1M the property brings in now.
The project team includes Finegold Alexander Architects, Speck Dempsey, Verdant, VHB and Nitsch Engineering.
