Image courtesy of GFI Partners

Boston-based developer GFI Partners plans to develop 200,000 square feet of commercial space at the former Grafton State Hospital after completing an acquisition from MassDevelopment.

The project at 124 Westboro Road is scheduled to break ground this summer and will include two buildings suitable for industrial, life science and flex users. The purchase price was $2.65 million and Country Bank provided $1.59 million in mortgage financing, according to Worcester County Registry of Deeds records.

The vacant site spans over 33 acres and is approved for fast-track permitting under an overlay district designed to attract biotech, medical and pharma users, MassDevelopment said. Approved uses include offices, R&D and light manufacturing.

In a statement, GFI Partners Founder Steve Goodman said the site offers a chance for tenants to locate close to local research clusters such as Grafton Science Park, Massachusetts Biotech Research Park, The Cummings School of Veterinary Medicine and University of Massachusetts Medical School.

The state Division of Capital Asset Management and Maintenance transferred the site to MassDevelopment in 2017 under former Gov. Charlie Baker’s “Open for Business” initiative designed to encourage economic development on underutilized state-owned parcels.

MassDevelopment entered a land disposition agreement with GFI Partners in September 2022 and completed environmental studies and a concept plan for the site. Completion is scheduled for early 2026.