A $20 million investment is coming to Chelsea as the Marriott Corporation completed its acquisition of three acres of prime real estate on Maple Street. The transaction was finalized Wednesday afternoon at Chelsea City Hall, with the corporation taking possession of the valuable land in the city’s development area.
The company will construct a 128-room Marriott Residence Hotel on two acres of the purchased property, while dedicating an additional acre across the street for parking and future development. The total price paid to the city was $1,865,000. The new hotel complex will be situated diagonally from the existing Wyndham Hotel site.
“This did not happen overnight. I began negotiations with Marriott almost 10 years ago and finally, we got them to sign on the dotted line,” City Manager Jay Ash said. “Finishing this development project successfully was one of the main reasons I wanted to remain at my job. This development is just one of a number of terrific things we have going on in the city,” added the city manager, who recently signed on for another four years. Marriott’s Residence Inn brand specializes in extended-stay accommodations. These properties cater to guests requiring longer visits by offering larger rooms and enhanced amenities designed to provide a home-like experience, distinguishing them from traditional hotel offerings.
The building’s design will feature striking red brick and sandstone facades. Chelsea Gateway Properties, the development partner, is investing nearly $20 million in construction and furnishings for what will become Chelsea’s second major hotel complex. The company will both develop and manage the property, with groundbreaking anticipated sometime this summer. CGP projects the creation of approximately 40 jobs at minimum. A small restaurant with a limited menu will serve hotel guests.
“This is a great product for Chelsea,” exclaimed Richard Pantano, Chairman of the Chelsea Economic Development Board. “The Marriott is exactly the type of development we have envisioned for our urban renewal district, and why we have been so careful in selecting redevelopers to carry out that vision.” Pantano says his board has heard from those who wanted to develop “no-name hotels and strip malls,” but the board continued to work with Manager Ash to find the right developer who would continue to elevate Chelsea’s presence as a hub for hotel visitors
The project is projected to generate approximately $500,000 in hotel excise and property taxes during its first year, plus $200,000 in one-time building fees. To facilitate the development, the city and CGP negotiated a five-year tax relief agreement providing roughly $160,000 in annual property tax relief over the five-year period. “We will see and feel the impact of this development in so many ways, not to mention the increased tax revenues that will help support municipal services,” Ash said.
Beyond the Marriott project, Chelsea continues pursuing other major developments. The city awaits final approval from federal authorities regarding an FBI project slated for Everett Avenue. Officials are also advancing a significant residential housing development on Sixth Street and exploring possibilities for major construction at the MarketBasket Mall. The One Webster project, featuring 120 residential units at the corner of Eastern and Webster Avenues, is nearing completion and represents another success for Ash and the City Council.
City Council President Marilyn Vega-Torres, a vocal development advocate, expressed satisfaction with the city’s trajectory. “We’ve got a great city with so much to offer,” she said.