Worcester Business Journal

wbjournal.com | April 20, 2026 | Worcester Business Journal 5 Aspen's stock was trading at $3.48 per share on the New York Stock Ex- change on April 10 morning, down 7% from the aernoon of April 8. Over the same period, the NYSE Composite was flat. Renovated Framingham castle reopens as three hotels e owners of a unique cas- tle-shaped hotel visible from the Mas- sachusetts Turnpike in Framingham have completed extensive renovations of the 371-room site. XSS Hotels and Colwen Hotels, both New Hampshire-based firms, completed the renovations aer purchasing what is now known as e Framingham Collection in January 2021. Renovations were supported with a $24.73-million mortgage from Buffalo-based M&T Bank in 2023, according to the Middlesex South Registry of Deeds. e property hit the auction block in 2020 aer the foreclosure of the previous owner AP WCP Framing- ham LLC, an entity managed by Los Angeles-based investment firm Ares Management Corp. People's United Bank purchased the site for $14.4 million aer winning the auction, later transferring the property to an entity managed by XSS for an undisclosed amount, according to Middlesex South Registry of Deeds and City of Framingham property records. People's United was later acquired by New York-based M&T Bank in 2022. XSS and Colwen have since worked to renovate the site into three separate hotels operating under different brand names, the companies announced March 19. e site is now home to the Renaissance Framingham Hotel & Conference Center, Fairfield Inn & Suites Framingham, and TownePlace Suites Framingham. TownePlace is an extended-stay hotel with suite-style accommodations and fully equipped kitchens. e three brands in one location give Colwen increased flexibility in serving guests, said Stephanie Paschal, regional director of sales for Colwen Hotels. e site originally opened in 1975 as the Sheraton Tara Hotel. Renovations included new fur- niture, renovated bathrooms, and upgrades to public spaces. e event space at the site is now known as Renaissance Framingham Weddings & Events, containing more than 25,000 square feet of event space capable of accommodating up to 1,000 guests. e site received a 2026 assessment of $30.15 million, according to munic- ipal property records. Chase Bank proposes branch at site of former Shrewsbury barbershop A Chase Bank branch could be coming to Shrewsbury as the New York City-based institution is eyeing the site of a former barbershop. JPMorgan Chase, the parent com- pany of Chase Bank, has submitted a site plan and special permit appli- cation to the Town of Shrewsbury to build a 2,883-square-foot bank and a 22-spot parking lot at 67-77 and 87-97 Boston Turnpike and 21 Dewey Road. Chase has 11 locations in Central Massachusetts, including Acton, Ash- land, Auburn, Framingham, Hudson, Marlborough, Milford, Sudbury, Way- land, Westborough, and Worcester. e Shrewsbury project would involve demolishing the now-shut- tered 2,403-square-foot Perrone's Barbershop adjacent to the lot at 103 Boston Turnpike, according to the site plan presented to the town April 2 by Kelly Engineering Group, a Braintree-based civil engineering firm representing the project. Perrone's closed in January aer 80 years in business, according to the Worcester Telegram & Gazette. e 9.2-acre parcel next to Quinsig- amond Plaza, a shopping center with stores including Trader Joe's, Total Wine & More, and Chipotle Mexican Grill. JPMorgan's application comes shortly aer Chase unveiled plans to open more than 160 branches in more than 30 states in 2026, including major expansion in Massachusetts. Vermont firm buys Fitchburg senior housing site for $7.2M from Rev Clinics co-founder A Vermont-based real estate firm has purchased an 86-unit senior living complex in Fitchburg for $7.2 million. e property containing Anwelt Heritage Apartments was purchased by an entity managed by Stowe-based North Hill Capital Partners in a deal finalized on March 5, according to the Worcester North Registry of Deeds. e income-restricted property consists of four floors, containing one- and two-bedroom apartments between 656 and 1,200 square feet. Of the 86 units, 60 are rented at or below 60% of the area median income, and 10 are rented at or below 30%. North Hill Capital Partner's website says it's focused on acquiring, preserv- ing, and improving affordable multi- family properties in New England. e property, situated at 1 Oak Hill Road, was sold by a Worcester-based entity managed by Robert Ansin. His firm, MassInnovation, developed the former shoe factory dating back to the 1880s into senior housing, according to Anwelt Heritage's website. He is one of the co-founders of Rev Clinics, a cannabis firm at the site which was once one of the fastest-growing com- panies in the country before its 2025 financial collapse. Ansin acquired the property from the family who ran the Anwelt Shoe Co. factory at the site, according to the Worcester Telegram & Gazette. Anwelt Shoe operated there from 1966 to 1988. e building is divided into two separate condominium units, with North Hill's purchase only covering the third of the building containing the apartments. e property is managed by Nor- wood-based HallKeen Management. HalKeen didn't return a message from WBJ asking if the ownership change had an impact on its manage- ment of the site; Anwelt Heritage is still listed in HallKeen's portfolio on its website. Start Your Career in Dental Assisting QCC.edu/dental The Dental Assisting Certificate at QCC prepares you for a fast-growing career in dental offices and clinics. Gain real-world skills in: Chairside assisting Radiography Infection control Patient care Apply or Register Today! Now Enrolling for Summer & Fall Continued from page 3 CORRECTIONS: The Business Leads section in the April 6 edition incorrectly said the listed companies were formed in December. They were actually incorporated in January. The "Falling grad enrollment" article in the April 6 edition included a miscalculation that WPI's international graduate student enrollment had dropped by 15.5%. It was actually 14.4%. W

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