City Realty Proposes 1.2M SF Mixed-Use Project In Chestnut Hill

City Realty is under agreement to acquire The Chestnut Hill Office Park in Brookline. The area is part of a new rezoning effort spearheaded by town officials.
City Realty Is Under Agreement To Acquire The Chestnut Hill Office Park In Brookline. The Area Is Part Of A New Rezoning Effort Spearheaded By Town Officials.

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.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Boston Newsletters
Related Stories

Why DivcoWest Is Advancing A New 19-Story Lab Development In Somerville

EXCLUSIVE: Georgia-Pacific Scraps Conversion Plans For Its Atlanta HQ

Massachusetts Housing Projects Receive $278M In New Public Funding

Downtown Office Building Approved For Conversion Trades For $8.5M: The Boston Deal Sheet

'This Is A Big Change For Me': Leslie Cohen Launching New Company After Leaving Davis Cos.

Atlanta Developer Plans $343M Mixed-Use Project In Downtown Durham

Glendale Approves Rezoning For Sports And Events Complex Near Cardinals' Stadium

Healey Awards $15M To Help Advance 5 Residential Conversion Projects

Brooklyn's The Hall Complex To Get Hundreds Of Units, Synagogue And Office In New Plans

Developers Get Approval To Turn Mall Into NHL Arena. Now All They Need Is A Team

Downtown Office Tower Secures $575M Refinancing

HB Reavis Pivots To Beds In Massive Waterloo Retrofit Plans