Wednesday, June 10, 2009

New Grocery Store at Broadway T Gets Financing

Boston Invests in Growth $40M Loan Fund
Gloria's Market 9 West Broadway, South Boston
·         Gloria's Market, developed by the Pappas family, is a re-imagination of the chain of stores started by Constantine Pappas at the turn of the 20th century in Boston's North End
·         The full service market will have fruit, produce, meat, fish, dairy, dry goods, prepared foods and will offer free delivery on purchases over $25.00 so that shoppers can leave their car at home and walk to and from the store without having to worry about carrying their purchases
·         The Market will offer food sourced from local farms, local fisherman, local dairies, as well as a selection of fine imported foods, most of which will be organic
·        When fully operational, Gloria's Market will employ approximately 30 people, 28 of whom will be brand new hires
  • Gloria's Market build out is seeking to achieve a LEED Silver Certification

The Shops at Riverwood 854-912 River Street, Hyde Park
·         A Finard Properties project, this more than 100,000 square-foot shopping center development is the result of an extensive and lively community process. The community was even invited to vote on the name of the center, which comes from combining area street names: "The Shops at Riverwood"
·         On the site of the old Bay State Paper Mill, the project began in May 2008 with the demolition of the mill building. Site preparation began in spring of 2009
·         Not only will the development of the site include the rehabilitation of the original powerhouse and smokestack but the project also will feature new and improved access to the nearby Neponset River. It won't be long before people will be dining al fresco by the river
·         The Shops at Riverwood, when fully completed, is expected to create more than 300 permanent jobs and provide much-needed retail currently lacking in the neighborhood 
·        The first tenants to cut ribbons in the new shopping center will be Price Rite, a national grocery chain, and Sovereign Bank
W Hotel and Residences 100 Stuart Street, Boston
·         The W Hotel and Residences is a $200M mixed-use project, and includes 235 hotel rooms, 123 residences, a restaurant, spa, and 'destination' bar
·         The downtown development also includes $3.7 million in planned community benefits, including funding for the Midtown Cultural District and childcare in Chinatown
·         The W Hotel and Residences will create more than 275 construction jobs and approximately 300 new permanent jobs (a recent job fair attracted 800 people)
·         Once completed, the W Hotel and Residences will increase Boston's tax base annually by  $3.2 million
·        The W Hotel and Residences plans to open in the fall of 2009

Lucy A. Warsh
Director, Media and Public Relations
Department of Neighborhood Development
City of Boston
P: 617.635.4802
F: 617.635.0561

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