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Proposal Gives Battery Wharf New Lease on Life

BOSTON-Local developer Harold Theran of the Development Management Corporation proposes a development plan for Battery Wharf, a run-down section in the North end of the city here. Theran's plan includes a luxury hotel and condominium complex.

By Naomi Grossman | Updated on March 28, 2001

BOSTON-A proposal to develop Battery Wharf, a run-down area in the North end section of the city here, has been unveiled. Local developer Harold Theran of the Development Management Corporation plans to turn this area into a high-end hotel and condominium complex.

Other local developers have tried to develop this area with no success, but Theran’s team, who bought the site last summer for $27 million, insist that their plan is different. “Originally the project was ill-conceived,” Francios Nivaud, the development and marketing consultant for Battery Wharf, tells GlobeSt.com. “Its full potential was not viewed properly.”

Nivaud says that Theran’s plan is better integrated, starting with his deal with Regent International Hotels to build a 185-room hotel, a health spa and restaurants on the site. Reportedly, Regents is putting seven million dollars in equity into the project. In addition, the project includes 99 condominiums, which will be serviced by the hotel.

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