The Swellesley Report » real estate

Update: Wellesley’s future laps of luxury

bbrown — Sat, 27 Nov 2010 13:47:59 +0000

UPDATE: (Dec. 1, 2010): An Epoch rep says that as for Waterstone at Wellesley rates it is “really too early to project and the market rates at that time of 2012 will sort of force the rates.”

A Swellesley Report reader recently inquired into just how much it will cost to enjoy the amenities afforded by Waterstone of Wellesley, the luxury senior rental housing community set to open on the old Grossman’s lot in 2012 in Lower Falls on Washington Street (a ceremonial groundbreaking took place recently). Details about pricing for the 1- and 2-bedroom apartments are not listed on the official Waterstone site and developer National Development has said pricing will need to be determined as the project progresses.

However, the reader who contacted us was told rents for luxury units would be in the ballpark of $5,500 to $7,500 a month, with perks including a putting green, theatre, a heated indoor pool and al fresco dining, a walking path along the Charles River and weekly housekeeping. (“So much for trying to live in Swellesley,” he wrote.)

On the other end of town, at the “luxury address” of 576 Washington St. where the Wellesley Inn used to stand, a project called The Durant has promised to offer “condominium living of remarkable elegance.” But that project has been stalled due to financing issues/the economy. A one-year site permit extension was granted by the town over the summer, so hope remains that the project will get going sooner rather than later and that Wellesley can be bookended with luxury living complexes.

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Seniors at center of Wellesley's new Grossman's lot plan

bbrown — Wed, 09 Dec 2009 02:32:30 +0000

The Townsman reports that the company developing the old Grossman’s lot site in lower falls still plans to build a retail/office building but has changed the focus of its apartment complex to focus on senior citizens. The plans for the independent and assisted living housing were aired before the Board of Selectmen on Monday. Benefits of the plan would be less need for parking and less impact on the school population. If permitting goes smoothly, construction could start next spring or summer.

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Wellesley Commons condo project gets uglier

bbrown — Fri, 20 Nov 2009 12:29:35 +0000

Developer Michael Connolly has been told by the town to stop construction on his controversial condo project at Hillside Rd. and Washington St. in lower falls, according to the Wellesley Townsman. The town’s building inspector cited violations that included installation of a retaining wall without proper permits and assorted monetary issues. The words “Crime Scene” were also spray painted by a vandal at the site, the Boston Herald reports.

Meanwhile, a group of 60-plus neighbors recently signed a letter calling on residents and lawmakers to support legislative changes that would give towns and cities more power in respect to the 40B affordable housing law and claiming that Connolly’s project is making a “mockery of 40B affordable housing law.”

All this could definitely make Connolly a dark horse contender for a Townsman 10 award (“individuals or groups that have made a difference in the past year…”).

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Super wonderful swell excellent Wellesley

bbrown — Tue, 04 Nov 2008 14:40:14 +0000

That’s the story according to this local realtor’s video about the town. Who are we to argue?

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