Worcester Business Journal

14 Worcester Business Journal | May 10, 2021 | wbjournal.com P O W E R 5 0 R E A L E S T A T E & D E V E L O P M E N T Bo Menkiti FOUNDER & CEO THE MENKITI GROUP, IN WORCESTER AND WASHINGTON, D.C. Residence: Washington, D.C. College: Harvard University If an old downtown Worcester building is being brought back to its former glory, the chances are good Menkiti and his firm are involved. Menkiti first came to Worcester thanks to his late father, Ifeanyl Menkiti, who bought the former Shack's building at 406 Main St. in 2017. Now, the company is about to unveil its first completed Worcester project, the 24-unit Chatham Lofts, in the third quarter. In the meantime, it has been painstakingly remaking the Shack's building facade and is in the planning stages on a few others, including an office building directly across from the Hanover Theatre, another at Main and Chatham streets, and a third across from Worcester District Court, which is all part of the Menkiti Group focus on the sustainable and equitable development of urban neighborhoods, while preserving historic architecture. What do you think the future holds for Central Mass.? "The great historic architectural assets paired with the emerging creative culture and recreational opportunities, and strong educational and anchor institutions in the area speak well to the potential of Central Massachusetts. We are excited to both witness and be a part of the bright future ahead for downtown Worcester and its surrounding neighborhoods." An entrepreneurial start: Menkiti paid his way through Harvard by running a janitorial business cleaning bathrooms and taking out trash on campus. Craig L. Blais & Roberta L. Brien BLAIS' TITLE: PRESIDENT & CEO BRIEN'S TITLE: VICE PRESIDENT OF PROJECTS WORCESTER BUSINESS DEVELOPMENT CORP. Residences: Blais: Sutton; Brien: Paxton Colleges: Blais: Framingham State; Brien: Westfield State More often than not, when you hear about a developer planning a new proj- ect in Greater Worcester – particularly on a long-stagnated property – the invisible hand of WBDC worked behind the scenes to get the deal done: prepping properties for development, connecting the right people, se- curing local and state incentives, dealing with utilities, and so on. Blais, the WBDC leader who seemingly knows everyone, and Brien, who oversees projects, both sit on the influential Worcester Economic Development Coordinating Council, a group of city and business officials who meet regularly to plan development. Their work is about to pay off at The Reactory, a biomanufacturing complex with $500 million in develop- ment potential, and a long-awaited revitalization of the former Draper Mill in Hopedale. What do you think the future holds for Central Mass.? Blais: "The best is yet to come. I remain bullish and positive." Brien: "Central Massachusetts could lead Massachusetts in a coordinated effort to develop a strong, regional economy." The superfan & the wanderer: Blais has attended more than 20 Aerosmith concerts, while Brien quit her first job as a transportation planner to travel for a year. Stephen D. Lynch CO-OWNER KING STREET PROPERTIES, IN BOSTON Residence: Boston Colleges: Boston College and Babson College It's a dollar amount worth emphasizing: $500 million. That's how much King Street Properties, a Boston development firm co-owned by Lynch, plans to spend on a life sciences biomanufacturing facility in Devens. That level of investment is hardly ever seen outside I-495, but Devens has been increasingly viewed as an attractive option for companies looking for lots of room within driving distance along Route 2 to the Boston area. Count Lynch and his team as among the big believers in such potential on the outskirts of one of the regions benefiting most from a life sciences boom. If spillover growth out in places like Devens and Worcester takes off, it'll be King Street Properties, which has already remade the former MetroWest Daily News building in Framingham for life sciences as part of more than $2 billion it has invested outside of Kendall Square since 2010, counted as among the first to take risk-taking investment to an entirely other level. What do you think the future holds for Central Mass.? "Central Massachusetts has an opportunity to capitalize on the need for the kind of factory-of-the-future space that we are building in Devens. These uses go beyond life science and include clean energy-related uses and precision manufacturing. Winning these kinds of uses requires a well-trained work force and nimble zoning." An industry giant: "I am taller than I look on Zoom." Rich Mazzocchi MANAGING DIRECTOR BOSTON CAPITAL DEVELOPMENT, IN BOSTON Residence: North Andover Colleges: Babson College and Northeastern University For what seemed like forever, Table Talk Pies' piemaking facility on Kelley Square in Worcester felt right about where it belonged: in a neighborhood still largely in its industrial days. Things have changed. Behind Table Talk, the Polar Park baseball stadium is hosting its first Worcester Red Sox games in May, and on the other side, the Worcester Public Market opened in 2020, making the Canal District more of an attraction. Mazzocchi and Boston Capital have a purchase-and-sale agreement with Table Talk to develop market-rate and affordable housing units, starting first with 80 units. When the $160-million public baseball stadium was proposed in 2018, city officials said the key to the project paying for itself was a surrounding development from Denis Dowdle. As Dowdle's project has shrunk and been delayed, developers like Mazzocchi are stepping up, with proposals envisioning a more residential and vibrant neighborhood. What do you think the future holds for Central Mass.? "The stability of well-established educational and health- care institutions, combined with the growth in biotech and life science, bodes well for the future. Diverse employment options, along with the quality of life and cost of living, make this an attractive area to live." Coach Mazzocchi: All three of Mazzocchi's daughters followed in his footsteps as hockey players. He coached their teams for many years.

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