GoVenture Capital Group, a Worcester-based real estate developer, has proposed to convert the former site of Shrewsbury’s Tanela Restaurant and Golden Star Motel into a commercial building and up to 250 housing units.
GVC has proposed demolishing the existing buildings at 525 Hartford Turnpike, a site that has been left vacant for more than a decade, according to a Dec. 8 development proposal submitted by the firm.
In its place, GVC is seeking permission to build a 12,000-square-foot commercial/retail building along with two, five-story residential buildings with up to a combined 250 units.
Along with the new builds, the developer has proposed to add an access road from Route 20, which runs the length of the state, to the back of the property on Stoney Hill Road.
“GVC has consulted with MassDOT and the Town about signalizing this future intersection, conversations and traffic assessment is ongoing and GVC remains committed to navigating a path forward to create a safe and more convenient single access point to Route 20,” Tom Corbett, GVC senior project manager, said in the letter.
GVC submitted its full proposal along with a special permit request for the project on Dec. 9. The Shrewsbury Planning Board held subsequent public hearings on the project on Jan. 8 and Feb. 5, with GVC representatives presenting the project’s site civil design, which documents the design, planning, and management of the proposal.
GVC was set to present at a Planning Board meeting on March 5, but the developer asked to postpone until April 2, which the board granted.
Founded in 2018, GVC has managed the development, financing, and construction of more than $450 million in assets. The firm had previously proposed a $17-million construction project to build a 364-unit apartment building on Franklin Street in Worcester and the conversion of the city’s Taylor and Farley Organ Co. into 36 apartments with 38 parking spaces.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
