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Hanover Buys Into Worcester’s CitySquare

Mar 17, 2010 | Reprints | Unlock Link | Print

Worcester-based The Hanover Insurance Group Inc. has reportedly signed a purchase-and-sale agreement with Berkeley Investments to become the new developer of the CitySquare redevelopment project in the city.

CitySquare is a multimillion-dollar project that will revitalize 20 acres in downtown Worcester into a mix of homes, stores and offices, the Telegram & Gazette reports.

The deal will be finalized pending satisfaction of the conditions of that purchase-and-sale agreement, City Manager Michael V. O’Brien was quoted as saying in the Telegram & Gazette.

O’Brien said Berkeley Investments, which took on the CitySquare project six years ago, will retain ownership of the two office towers on Front Street and the parking garage at Commercial and Foster Streets.

Commercial & Industrial