Worcester Business Journal

wbjournal.com | October 3, 2022 | Worcester Business Journal 5 former site of the Worcester Center Galleria. Colwen Hotels built the hotel, then acquired the property on Sept. 23 from Citysquare II Development Co. LLC for $2.2 million, prior to the sale to Claremont. Claremont Cos. was founded in 1968 by Patrick Carney, the company's cur- rent chairman and CEO. It owns more than 60 properties including hotels, apartments, and offices. All active construction projects receiving City of Worcester tax breaks are falling short of diversity hiring goals e active Worcester construc- tion projects benefiting from City of Worcester's tax breaks are falling short of their goals in hiring city residents, people of color, and women, according to a report by Worcester's Executive Office of Economic Development. Among projects that have start- ed construction listed in the City of B R I E FS Worcester AC Hotel sold to investor for $40M e AC Hotel by Marriott Worcester was purchased Sept. 23 by Bridgewater real estate investor and developer Clare- mont Cos. for $40 million, according to the Worcester District registry of deeds. e seller was Colwen Hotels, a sub- sidiary of XSS Hotels of Hooksett, New Hampshire, which originally built the five-year-old hotel. Claremont did not respond to a request for comment regarding its plans for the hotel, but the company's website lists the Worcester hotel, under its cur- rent branding, among its properties. e 170-room, 120,000-square- foot hotel opened in April 2018 at the AC Hotel by Marriott Worcester Continued on page 6 T H E T I C K E R 3.8%, 4.2%, 2.8% Unemployment rates in Greater Worcester, the Leominster- Gardner area, and Greater Framingham in August Source: U.S. Bureau of Labor Statistics $4.8M Source: FEMA Health Center of Worcester Total reimbursements the Federal Emergency Management Agency gave to UMass Memorial Health and the City of Worcester for the operation of the DCU Center COVID field hospital in 2020-2021 Location of D'Errico's Market satellite location in Worcester, which closed in September after two years. D'Errico's original location in Worcester and newer location in Leominster remain open. 127 Cambridge St. Source: D'Errico's Market Sale price of 124-128 Millbury St. in Worcester, a mixed-use building that was the former home of Nick's Bar & Restaurant, which itself was sold and reopened as Steel & Wire $900K Source: Worcester District Registry of Deeds

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