FRAMINGHAM – Nobscot Plaza has been sold.
Andy Rose, President of Centercorp Nobscot Inc, and managing member of Nobscot Center LLC has sold the plaza property to Framingham Nobscot LLC for $11.6 million.
Framingham Nobscot LLC is a Delaware Limited Liability company with an address on Albany Street in Boston. The sale was executed on November 30, and recently filed with the Massachusetts Registry of Deeds.
The 4.8 acre site is assessed by the City of Framingham for $3.3625 million, with the land worth $831,900, and the building on the site valued at $2.2475 million.
The sale does not include the newly-constructed CVS on the corner of Edgell and Water Street.
Rose made a deal with Mayor Yvonne Spicer and the City of Framingham to move the historic Nobscot Chapel to a new location so that Rose could develop the corner spot as a CVS.
Nothing has been done with the historic chapel since.
In early 2020, the Framingham Planning Board approved the plans to demolish the former retail plaza on Water Street in Framingham and redevelop the site as two, 3-story buildings with 158 residential units and some retail space.
No work has begun on that project.
The plans approved by the Planning Board remain in place, even with the sale.
In October 2019, the application for Village at Nobscot was submitted to the Planning Board for 770/780 Water Street project, which also included the construction of the CVS.
However, the new owners could decide to do something else, but they would have to re-submit with the city. There is no indication, at this time, they plan to submit a new plan.
SOURCE has contacted the new owners and are waiting to hear back from them on their plans.