Carl Katzeff, chairman of the Hull Redevelopment Authority, tells GlobeSt.com that a public bid was put out on October, 2003. Chatham Realty was selected to develop the project which involves 60 units on the northern side of the parcel and another 11 units on the southern side. Katzeff notes that the condo buildings will comprise nearly three acres of property and the remaining 13 acres, much of which is currently a parking lot, will become a park. Katzeff adds that the HRA is also licensing a roadway from the state that will be integrated into the park.
The Hyannis-based Chatham paid $3.5 million for the property and guaranteed another $1 million for parking construction. The project needs to undergo the town's permitting process as well as receive rezoning approval.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
