Westwood Station groundbreaking set after years wholesale nfl jerseys of delay
The long stalled University Station project will take an important step forward next week when the site's development team breaks ground on the planned 2 million square foot project adjacent to Interstate 95 and the Route 128 MBTA Commuter Rail Station Cheap Jerseys From CHINA in Westwood, Mass.
The $500 million mixed use development is being built by a collaboration of firms including New England Development, Eastern cheap jerseys Real Estate, National Development and Clarion Partners. The site is slated to include 750,000 square feet of retail, a 350,000 square foot Class A office building, 650 residential units, up to 160 hotel units and an assisted living and memory care facility with 100 units.
"There are lots of signs that the economy is making a comeback and starting construction at Westwood Station is one of those signs," said Michael Jaillet, Westwood's town administrator.
The project's first phase is designed to include 550,000 square feet of retail space, with a Wegmans and Target as anchors, as well as the Gables at University Station, a 350 unit luxury residential development. The initial retail phase of University Station is expected to open in the spring of 2015, with the residential stage expected to follow in the summer of 2015. More than 18 acres have been reserved as open space.
The developers, along with Charles River Realty Investors, bought the 130 acre parcel for $45 million in 2012. The project had been languishing under previous developer Commonfund Realty.
Originally approved by the town in 2008, the project fell victim to that year's global credit crisis and a severe recession that proved fatal for many commercial real estate projects with considerable financing and permitting hurdles. The initial iteration of Westwood Station called for 4.5 million square feet of new development more than twice as big as the current plan.