The Abrams Group Announces Joint Venture With The Callahan Companies To Build 97 Luxury, Loft-Style Condominiums In Worcester
BOSTON – The Abrams Group LLC, a Boston-based real estate investment and development company, and The Callahan Companies of Bridgewater today announced the signing of a joint venture agreement to transform an historic mill in Worcester into 97 luxury, loft-style condominiums.
The 160,000-square-foot, brick building, located at 160 Fremont St., formerly was home to the L. Farber Co., which purchased the building in 1951. More recently it served as temporary quarters of the Worcester Public Library.
Soaring 12-to-18-foot ceilings, original wood plank and beam exposed ceilings, sandblasted brick walls, and hardwood floors will add to the ambiance of loft-style living. Each unit will be pre-wired for cable, high-speed internet and telephone. The complex also will include a state-of-the-art fitness facility and a media/business center.
Construction is expected to begin in the fall.
A number of significant developments already in the pipeline likely will have a positive impact on Worcester, which is experiencing a development renaissance with nearly $2 billion in projects completed, proposed, or underway. Under the city’s Economic Development Incentive Program, 27 projects were completed, and 8,800 construction jobs created during the past four years.
The Abrams Group (www.theabramsgroup.com) specializes in the acquisition and development of multifamily and commercial properties in the Boston area. Its other projects include 135 loft-style apartments in Lowell, luxury condominiums in Boston and Brookline, and office buildings in Lawrence and Lowell.
The Callahan Companies (http://www.callahan-inc.com/) have been engaged in construction and real estate development since 1954. Their projects are located throughout New England and Florida. Recent projects include 180 apartments at Marina Bay in Quincy, MA, 396 apartments in Westlake, Fl, The Oceans Grande Condominium in Dayton Beach Shores, condominiums in Brookline and Whitman, MA as well as numerous schools, hotels and retail stores.