Landmark Properties retreated from their upscale student housing project in N. Amherst
Once again we have a tie with both business related stories involving housing, the #1 "overall issue" of the year -- if not the entire decade. A serious issue we probably share with many "college towns" across the country.
After more than a year of heated packed public meetings, with hundreds of ugly lawn signs polluting the landscape for most of that time and with the developer, Landmark Properties, sinking almost $1 million in initial costs, the demise of "The Retreat" was a BIG story.
Kendrick Place, north end of downtown
But the rise of Archipelago Investments LLC, fittingly symbolized by their five-story, mixed-use developments, was certainly an equally m-a-j-o-r story.
In fact their three projects combined that have garnered Planning Board approval -- Olympia Place with 75 units, Kendrick Place with 36 units, and One East Pleasant Street with 80 units -- almost make up for the 641 beds that The Retreat would have produced.
Carriage Shops: Future home of One East Pleasant Street
One East Pleasant Street as seen from historic West Cemetery
And with the very recent legal action taken against Archipelago by a tired old-school competitor desperately trying to maintain market share, safe bet that One East Pleasant Street project will continue to be a BIG story in the new year.
Olympia Place site work near UMass