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City Wins Bid for 42-Acre Kessler Woods

NEWTON, MA-The city has the winning bid in the purchase of Kessler Woods, a 42-acre parcel that is the largest open piece of property in this area. The city is buying the property with Cornerstone Corp. for $15.1 million.

By Naomi Grossman | Updated on August 21, 2003

NEWTON, MA-After months of working to put together financing, the city’s persistence paid off: it had the winning bid in the purchase of Kessler Woods, a 42-acre parcel located in the southeast corner of the city. The site is the largest open piece of property in this area.

Jennifer Goldson, the town’s Community Preservation planner, tells GlobeSt.com that the city is buying the property with Norwood, MA-based developer Cornerstone Corp. for $15.1 million. The plan is to keep half of the property as open space and Cornerstone will develop the other half. The project will involve 62 units of residential housing–with 20% of the units affordable–as well as 11 single family lots.

NStar had issued a request for bids for the site back in February and the city’s Community Preservation Committee decided it wanted to buy the site with funds from the Community Preservation Act, a property tax that each city or town agrees to accept with the funds going to preserve open space or historical sites. Residents voted to accept the Community Preservation Act in the 2002 elections with a 1% surcharge on property taxes.

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