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Another Hospital Site In Play For Redevelopment

By Steve Adams | Banker & Tradesman Staff | Aug 29, 2017 | Reprints | Unlock Link

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A 2.1-acre hospital site on Commonwealth Avenue in Brighton is in play for a potential redevelopment.

Owner Curahealth will close and vacate the 59-bed acute long-term care Kindred Hospital this fall and has hired Colliers International Boston to market the site. Curahealth, an affiliate of private equity firm Nautic Partners, acquired the property in October 2016 for $7.8 million from Kindred Healthcare.

The parcel at 1515 Commonwealth Ave. contains a 58,000-square-foot, 4-story hospital building completed in 1900. The building could be suitable for an adaptive reuse or demolition to maximize room for new development on the site, which has a floor area ratio of 1.0, said Christopher Sower, a senior vice president at Colliers.

The site’s access to the MBTA’s Green Line B branch has already spurred interest from multiple potential buyers, Sower said. Tours are starting this week and a call for offers is expected within 30 days.

B&T Daily