State-owned MassDevelopment sold a parcel that was once part of Grafton State Hospital to GFI Partners for $2. 65 million, and the Boston-based developer intends to turn the site into a commercial complex.
The property, located at 124 Westboro Road, was sold as part of a deal finalized Friday, according to records with the Worcester District Register of Deeds. GFI intends to construct two buildings totaling 200,000 square feet, with the structure expected to begin during the summer and be completed by the first quarter of 2026, according to a press release issued Friday through MassDevelopment.
GFI is building for the purpose of leasing the flexible commercial to corporations operating in the life sciences sector or other uses that comply with local zoning.
“This provides a wonderful opportunity for any tenant due to its proximity to Grafton Science Park, the Massachusetts Biotech Research Park, Cummings School of Veterinary Medicine, UMass School of Medicine and a variety of other famous schools and universities in the area. “said Steve Goodman, founder of GFI Partners, in MassDevelopment’s press release.
Grafton State Hospital operated as an intellectual fitness center from 1901 until 1973, when it closed as part of the state’s deinstitutionalization efforts, according to an article on Grafton Common, a local news site.
Other parcels that were formerly part of the former state-owned Grafton State Hospital have been redeveloped or approved for redevelopment. The Cummings School of Veterinary Medicine, operated through Tufts University, built in 1978 on the former hospital campus. A 317-unit residential complex at 8 Pine Street on the former campus has won local approvals, though the site is now being put up for sale through Chicago-based real estate firm Cushman.
Assets at 124 Westboro Road were transferred to MassDevelopment in 2017 as a component of the state’s Open for Business initiative, which aimed to spur economic progress through the sale of disused public property.
GFI has purchased several homes in central Massachusetts since 2022, 221 acres of land in Charlton and 141 acres of land in Hopedale.
“Our administration is excited to announce the transformation of this longtime audience under GFI Partners. Their commitment to creating a strong industrial hub will promote the creation of projects and, in particular, stimulate economic expansion in the region,” said Yvonne Hao, Secretary of State for Economic Development and Chair of the Board of Directors of MassDevelopment, in a press release.
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Stay connected! Each business day, WBJ’s Daily Report will be delivered to your inbox until noon and provides an update on the most important economic news from the region.
The Worcester Business Journal provides the political news, trends, data, politics and personalities of the Central Mass business community. Get the news and facts you want from WBJ’s award-winning writers. Don’t miss a thing – subscribe today.
The Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the City of Worcester. This landmark publication covers the history of expansion and innovation in the city and region.
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