Sitework Underway on 156-Unit Development in Methuen
- By lkarls@criteriondp.com
- •
- 11 Jun, 2021
With all eyes regarding development on the Sullivan Square area right now, one project that will impact Charlestown – but is only slightly in the Town – has been approved and will be ready for construction in about 12 months.
Criterion Development, of Waltham and Dallas, permitted with the City of Somerville a major development on Cambridge Street in the Lost Village recently. That development will remake an entire half of a block, including reimagining the Somerville City Club, building out 205 residential units and eventually building a hotel on the Charlestown side of the property.
The L-shaped development tract was a little off the radar in Charlestown due to the fact that most of it lies in Somerville along the Inner Belt Road and across the street from the Somerville Holiday Inn – meaning that permits and processes were run out of Somerville City Hall and not Boston.
Jack Englert, of Criterion’s Waltham office, said they have permitted 205 units of housing and they will be rebuilding the Somerville City Club within the development. It will be reinvented as a pub or some other entertainment hub. The City Club is well known to those in the Town for frequently hosting Charlestown-themed boxing nights, as well as other functions over the years.
Englert said they typically build luxury units, so this development will include a full array of amenity space, with some modifications to that program due to COVID-19 lifestyle changes.
One piece of property that is in Charlestown – and was purchased late last year from Paradigm Properties (which has owned industrial and research/development properties on Roland Street since 2012) – will one day host a full-service hotel. It will be located on the corner of Washington Street/Cambridge Street and Inner Belt.
“That plan is out there when the industry comes back,” he said.
The plan is for one building, five stories tall that would include 400 spaces of parking to be shared between three uses – including an office space for Paradigm, the City Club and the residences.
“We should be delivering our first units in 24 months from now,” Englert said. “It could be a little less time. You’ll start to see some major activity there in about 12 months.”
Read more: https://charlestownbridge.com/2021/03/11/new-development-on-charlestown-line/
The Dallas-based development group behind the prominent 1800 Broadway apartment complex near Pearl made an expansive second move in San Antonio this week, kicking off more development in a prominent master-planned community.
Criterion Development Partners acquired more than 43 open acres in the 119-acre Éilan development directly across I-10 from The Rim at approximately 17803 La Cantera Terrace, the group announced Tuesday. Hudson Advisors of New York was the seller, represented by JLL. There was no debt for the purchase.
The development will continue the rapid growth of Northwest San Antonio with potentially more apartments and offices, retail or even a new hotel — a rare sight amid the pandemic. Chad Colley, Criterion's director of development, said the company is having discussions with developers in all of these categories with the intention of continuing the young, modern feel of Éilan.
The first focus for Criterion is its roughly 250- to 400-unit apartment complex it will develop on the site set to break ground mid-2021. The design will complement the Tuscan style of the other Éilan projects, and amenities will include a resort-style pool and a sun deck overlooking Hill Country. Colley declined to name the architect, as it is still too early in the process to announce.
"This development offers first-rate living, working and hotel accommodations to those who value having an amenity-rich environment within walking distance and an abundance of shopping and entertainment within a short drive," Colley said in a news release. "We believe this property is extremely unique and the most desirable location in the area."
Éilan's Netherlands-based developer, Wereldhave, started building in 2007, according to the Express-News. The original developer intended to develop the full 119 acres, Colley said, so the land acquired by Criterion is already entitled and ready for mixed-use projects.
“It allows all the uses we like,” Colley told the Business Journal. “It’s kind of a dream, to be honest with you. Never in my career have I seen anything as done as this was.”