Boston developer plans to convert manufacturing plant to apartments, again
Photo | Courtesy of LoopNet
The potential new owner of 33 Hermon St. is seeking a zoning change to allow housing at this location.
The developer who is converting the former JH and GM Walker Shoe Factory on Water Street in Worcester into apartments has set his sights on transforming another manufacturing plant.
Anthony Rossi, principal of Rossi Development, confirmed his Chelsea company has a purchase and sale agreement for a soon-to-be vacant 47,000-square-foot factory at 33 Hermon Street.
Under the terms of the deal, the sale will close only if the city approves a zoning change to allow residential use at that location.
“I’m working with the city on the change and I’ve already spent money on a study, prior to the closing, on what must be done to make the site clean to meet residential standards,” Rossi said. “I’m willing to take on that burden moving forward because now I know what needs to be done.”
Still, if the Planning Board and City Council fail to approve housing for the district, there will be no deal, he said.
If approved, Rossi said he would remediate the parcel and redevelop the two buildings into apartments. Rossi said he has not decided on the number or size of the units.
“If the city does not allow apartments there, nothing will happen at that location,” he said.
Last spring, Rossi bought a shuttered shoe factory at 28 Water St. for $660,000. The $7 million project will include 62 studio and one-bedroom apartments in the 150-year-old building.
The apartment complex will come equipped with a new elevator, fitness room, small dog park and an outdoor space, Rossi told the WBJ last year.
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