Worcester Business Journal

4 Worcester Business Journal | March 21, 2022 | wbjournal.com Retiring president "For 15 years, Assumption University, its students, faculty, staff, alumni, and benefactors and their success have been a priority for me." C E N T R A L M AS S I N B R I E F V E R BAT I M Retiring CEO "Holly brings the same values and love of community to the agency that I have had my whole career in homecare services." Elaine Fluet, announcing her retirement as CEO of Care Central VNA & Hospice, Inc. in Gardner and Holly Chaffee as her replacement. Pictured is Fluet. Incoming CFO "I am confident he will be instrumental in helping us reach new heights, by creating efficiencies and strategic collaboration throughout the bank." Marco Bernasconi, president of North Brookfield Savings Bank, announcing Kaz Borawski as the bank's new CFO. Pictured is Borawski. Francesco Cesareo, announcing his retirement as president of Assumption University in Worcester on June 30 Mercantile Center owner planning hotel, 150 apartments for downtown Worcester PHOTO | MATT WRIGHT BY KATHERINE HAMILTON WBJ Staff Writer D eveloper Chip Norton announced two large-scale projects in downtown Worcester on March 11, including a 150-unit apartment building on Front Street and 125-room hotel on the corner of Mercantile and Foster Streets. Norton, who owns Wellesley-based development firm Franklin Realty Advisors LLC, outlined the plans at a monthly meeting of the Downtown Worcester Business Improvement District. e proposals would significantly add to Norton's holdings at the Mercantile Center complex, which already includes the 100 Front St. skyscraper, the office building at 120 Front St., and a parking garage. "ey're still just formulating concepts. It's in its infancy stages," said Kathleen Chrisom, a spokesperson for Norton, who confirmed the plans. e hotel would be located next to 2 Mercantile St., one of Norton's other development projects which is nearing completion. e 2 Mercantile development is slated to open March 28 as an upscale rooop dining spot seating 500 patrons. Norton, who owns the property at 2 Mercantile St., put the 16,500-square-foot building up for sale for $5.7 million in December. e proposed hotel would be across the street from AC Hotel by Marriott Worcester, a 160-room hotel at 125 Front St. which opened in 2018. Norton's proposal for a 150-unit apartment building would be con- structed at 90 Front St. above the two-story property which currently houses a CVS pharmacy and the Worcester District Registry of Deeds. e apartments would be market-rate, according to Norton's presentation to the improvement district. Norton's firm Franklin Realty Advisors owns the 222,372-square- foot property at 90 Front St., which it bought along with the Mercantile Cen- ter at 100 Front St. for $24.5 million in 2015, according to the Worcester South District Registry of Deeds. Chrisom emphasized Norton is still exploring partners for the two proj- ects and cannot provide more detailed information at this time. Norton owns several other large real estate projects in Central Massa- chusetts, including the Southbridge Innovation Center and the Worcester Business Center. W Chip Norton, president of Franklin Realty Advisors, which owns the Mercantile Center

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