Boston, MA HN Gorin, Inc., has formed a joint venture with Masterworks Development Co., LLC, to develop a 300-key hotel on Stanhope St. in the Back Bay neighborhood of the city. The venture filed a Letter of Intent (LOI) with the Boston Planning & Development Agency to begin the formal approvals process.
“We look forward to working with the city and the community to create a boutique hotel in one of the city’s most beautiful neighborhoods,” said Roz Gorin of HN Gorin.
“The Stanhope site is an ideal location for a boutique hotel given its urban setting and proximity to the Back Bay train station as well as shopping and restaurants, amenities which any traveler looks for in a downtown hotel.”
Roz Gorin is the third generation to lead the family’s 110-year-old company which is active in the acquisition, development, redevelopment, ownership, management, and financing of millions of square feet of office, industrial and multi-family residential properties in Boston and throughout the country, and has been involved in notable projects such as 101 Merrimac Street, 101 Federal Street, 75 Federal Street and 55 Summer Street. Founded in 1992, Masterworks is a private real estate company that has a successful track record of owning, developing, and operating hotels across the United States.
The development plan has been guided by and is in compliance with the multi-year planning process for this area, the Stuart Street Study (2008-2011), that more recently resulted in the adoption of development Guidelines (October 2015) and new zoning (March 2016), Article 48 and Map 1S of the Boston Zoning Code. The Study examined potential development opportunities and evaluated the suitability of various height, density and use scenarios, including impact on neighboring historic buildings, residential areas and open spaces, to develop a comprehensive vision for the future.
Designed by Group One Partners, who has experience designing numerous hotels in Boston including the Envoy Hotel in the Seaport, the team is proposing a building that is consistent with the zoning on the site.