The Boston Globe | By John Hilliard
January 13, 2017
BROOKLINE — Could two separate developments that mix a hotel, residences, and restaurants survive just over 1,000 feet apart in Coolidge Corner?
Developers for both projects — one proposed for the current Holiday Inn at 1200 Beacon St. and the other intended for Waldo Street — will work with a special town committee to hammer out the details of the projects, Neil Wishinsky, chairman of the Board of Selectman, said Monday night. The town will also hire a financial consultant to study them.
“We really push the developers as far as we can, and then we make a judgment,” Wishinsky said.
The fall 2017 Town Meeting would have to approve any zoning changes before either project could be built, he said.
Boston developer Joseph Fallon is working with a private equity firm, Westbrook Partners, to convert 1200 Beacon St. into a mixed-use development that would offer a 14-story, 390-room hotel, plus a 10-story, 155-unit apartment building.
The project would also include space for restaurants and retail use, according to a presentation Fallon made Monday night to selectmen and other town officials. The proposal also includes 250 parking spaces.
Westbrook purchased the Beacon Street property in August for $74 million. The existing six-story building contains 225 hotel rooms, and there are 138 parking spots.
Brookline developer Edward Zuker also seeks to build a hotel, residential, and restaurant development, on Waldo Street, but hasn’t released specifics on his proposal.
Late last year, Zuker’s Chestnut Hill Realty proposed a 21-story residential tower at 8-10 Waldo St. that would offer 320 apartments under Chapter 40B, the state’s affordable housing law.