Worcester Business Journal

wbjournal.com | September 3, 2018 | Worcester Business Journal 11 CLIENT: NOT-FOR-PROFIT SCHOOL & FOUNDATION Their 403(b) re rement plan was riddled with inefficiencies, lacking adequate record keeping and employee educa on, resul ng in a program that was complex and confusing. H&H clarified the road ahead with an in-depth benchmarking study, then provided a lower-cost plan streamlining administra on and reducing risk exposure. Get the full story at hhconsultants.com/success Put our knowledgeable and dedicated professionals to work for your business. We offer a full range of comprehensive actuarial, investment advisory and re rement plan consul ng services. We iden fy each client's need, custom design programs to achieve the highest level of success and consistently exceed expecta ons. RETIREMENT PLAN SERVICES THAT PASS THE TEST Each client's situa on is different and results may vary from those presented here Construction Name Date of completion costs Description Fidelity Bank September 2017 $18 million 110,000-square-feet Worcester Ice Center including two ice rinks, two restaurants, an event space and a fitness center Harding Green Late summer/early 48 apartments and a 20,000 fall 2019 (anticipated) $21 million square foot public market Worcester Red Sox March 2021 (anticipated) $240 million Ballpark development with ballpark development capacity for 10,000 fans, 250 apartment units, two hotels and 65,000 square feet of retail space Once the Worcester Ice Center was designed with a separate parking lot on a raised property from the rest of the street, Allen Fletcher came out with a proposed development designed to embrace the character of the neighborhood. Sources: Allen Fletcher, Worcester Ice Center, City of Worcester Canal District developments ber it all; but we've got a great project that seems to be capturing people's imaginations," Fletcher said. His vision is built upon increasing walkability in a manner resembling other thriving cities. "It's really kind of thrilling how much people seem to like it, but at the end of the day it's a commercial venture," he said. Disruption, character concerns Fletcher is apprehensive about ball- park construction's impact on his prop- erty but is hopeful for the final result. "When all of the dust clears, the arrival of the PawSox will be great for the project and great for the district, but it's how to get from here to there that I worry about," he said. His concerns include interim parking and the disruption of access to his property. "We need all the help we can get when we come online, and it will be easy to get killed by just passive negli- gence on the part of the city. We're no longer the biggest thing going on in the Canal District," Fletcher said. Most troubling for the developer is the impact a ballpark might have on Kelley Square. "Our whole project is founded on that intersection as a legendary gateway to the district, and there's a reason – or a hundred reasons – why it has endured for as long as it has," Fletcher said. Despite Kelley Square's reputation as one of the most dangerous intersections in the state of Massachusetts, Fletcher finds magic in its vast complexity. He has high expectations that the Worcester Red Sox will build on the area's existing character rather than effacing it. He hopes the Massachusetts Department of Transportation will do the same in examining Kelley Square in favor of public-safety. PawSox, city assurances Pawtucket Red Sox Executive Vice President and General Manager Dan Rea said he is excited for the opening of Fletcher's Harding Green development and he looks forward to working closely with Fletcher and other members of the Canal District community. "We've always said that a good ballpark needs a good neighborhood, and Harding Green's mix of uses further enhances the exciting live/work/play dy- namic we're seeing in the Canal District and Worcester as a whole," said Rea. City Manager Edward Augustus like- wise views both projects as symbiotic. "e growth and momentum of our already thriving Canal District will be strongly enhanced by the addition of two major development projects in Harding Green and the construction of a ballpark for the AAA affiliate of the Boston Red Sox," Augustus said. "Both projects will not only provide a height- ened interest in the area by visitors, retailers and developers, but also those who decide to make the Canal District their home with approximately 300 new apartments coming online." Fletcher's project will likely reach completion in late summer or early fall of 2019. Steel has gone up quickly, but he said, "the illusion of rapid progress will slow down soon enough." Allen Fletcher lives only a few blocks away from his $21-million development. PHOTO/BRAD KANE W

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