By Seth Daniel
Colwen Hotels has withdrawn a foundation permit for the $30 million Broadway hotel project that drew scrutiny earlier in the year.
According to City Manager Tom Ambrosino, the permit has been pulled and work crews were observed on the site this week. Located on the Chelsea/Revere border adjacent to Walgreen’s, the property is now actively under development.
The development carries a price tag exceeding $30 million.
“There was some concern about whether or not they would move forward, but they decided things were good in Chelsea and they’re going ahead,” Ambrosino stated.
Colwen Hotels has not yet issued a statement regarding this development milestone.
The proposed hotel will contain more than 100 rooms and represents the fourth Colwen property in Chelsea. The project initially received permits in 2014.
In related news, the City has released an RFP seeking a consultant to conduct an independent market analysis of Chelsea’s hotel sector.
Ambrosino expressed concern about the City’s capacity to accommodate the growing number of hotel rooms currently operational, as well as those planned for development. He anticipated additional hotel proposals emerging in coming years.
“We don’t want to undercut existing properties and we want to make sure the quality is consistent with what we have now,” Ambrosino noted.