English Commons Site in Topsfield, MA Sells for $5MThe former Page Farm site in Topsfield, Massachusetts has sold for $5 million to C.P. Berry Construction Company (C.P. Berry). The landmark 68-acre site located on Route 1 was the former suburban home and equestrian center of George Page, Boston-area hotel operator and restaurateur.
Colliers Meredith & Grew Senior Vice President Bob Cronin and Chairman Tom Hynes represented the seller, Boston College . Colliers Meredith & Grew also represented C.P. Berry in the transaction.
In 1989, the college received the property from a local benefactor with the intent that the site would be developed as a suburban corporate conference and spiritual retreat center. In 2006, Boston College designated the site as a "surplus" real estate asset and hired Colliers Meredith & Grew to actively market the property for sale.
"Given the landmark significance of the Page Farm site, the sale process was very challenging since a number of hurdles had to be overcome by C.P. Berry including land conservation issues, rezoning requirement and complicated site characteristics," said Cronin. "Ultimately, due to the quality of the builder and the development, the importance of the project as it relates to providing a valuable senior-housing option and the spirit of cooperation that was shown by the Town of Topsfield, Boston College and C.P. Berry, the transaction resulted in a true ‘win win' for all parties involved."
According to Alan Berry, Principal of C.P. Berry, the firm has begun construction of English Commons at Topsfield, a 50-unit high-end townhome community for residents age 55 and over. A model home will open in July. Some of the firm's previous development projects include the Homes at Ipswich Country Club and the award-winning Caldwell Farm townhouse development in Newbury.
"English Commons is an exciting undertaking. It is beautiful property in a great rural North Shore town that is convenient to shopping, major highways, entertainment, restaurants and historical sites in the area," added Berry . "We will continue the tradition of open space planning and quality building design and construction from our Caldwell Farm development. The environmentally-friendly site design and building practices, as well as the New England architecture, will create a community Topsfield can be proud to have within their borders."
(Source: CityBizList Boston)