Wednesday, March 19, 2014
Could Tufts Exit Lead to Davis Square Partners Entrance?
With Tufts leaving the negotiation table on the Powder House School, the opportunity for the parcel to be developed is down to two candidates, one of which has a very direct connection to Ward 5. As I reported previously, one of the top contenders was Davis Square Partners who submitted a proposal that could bring between significant numbers in annual tax revenue for Somerville.
Gate Residential and KSS Realty Partners (collectively known as Davis Square Partners), the two firms responsible for the Maxwells Green project on Clyde Street in Ward 5, was one of 6 bidders looking at the location until the Powder House Community School Technical Advisory Committee submitted their top three choices that included Tufts and Diamond Sinacori. Davis Square Partners also bid on the Davis Square Hotel project, as well.
Developers submitted their proposal in February after the City declared the 1.85acre parcel surplus and sought submissions in late 2012. The school has been closed since 2004 and has been a big neighborhood focus in Ward 7.