A developer that’s encountered neighborhood opposition to its most recent Boston projects has found a more welcoming climate in the suburban Medfield, and recent grants from the Healey administration toward a $235 million housing project.
Boston-based Trinity Financial was awarded nearly $5 million from a pair of state programs as it assembles financing for adaptive reuse of the former Medfield State Hospital as 344 housing units.
The firm was one of two respondents to a request for proposals for a 45-acre portion of the property acquired by the town in 2014. The site includes 27 Queen Anne-style buildings dating back to the 1890s that were featured in the 2010 psychological thriller “Shutter Island.”
What else is on tap today?
- $171M Hotel Deal: Back Bay’s 390-room Hilton Hotel is one of six properties under agreement to be sold by Dallas-based REIT to reduce its debt.
- Corcoran Group Lands in Boston: New York City luxury brokerage Corcoran Group now has a Massachusetts market presence, thanks to a pair of Compass agents leaving for a new affiliation.
- Transpo Financing Fix: The Healey administration’s new Transportation Funding Task Force will be “looking at everything – congestion pricing, tolling, every single option there is” for state funding of roads and transit, the group’s chair said, with the T still facing a huge budget deficit in the coming years.
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Hey, Big Spender…
Who says Nantucket has to be all beaches? The fifth home in this week’s Gossip Report trades that milieu for a spot next to one of the island’s only farms.
What Can I Look Forward To?
Here are just a few of the things to look forward to in Sunday’s newsletter. Not a B&T subscriber? Change that here.
- Residential brokerages are still on the hunt for smaller rivals they can buy up as the slow pace of home sales looks set to continue.
- A year after ChatGPT burst onto the scene, we examine how banks and credit unions are using AI software.
- It’s Women in Construction week next week, and we’re catching up with one of the growing number of women making careers in the sector.
