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Two developers pitch competing visions for 4 West Main Street; board will seek more diligence
Summary
Two respondents to the town’s request for proposals offered contrasting redevelopment plans for 4 West Main Street: one emphasizes preservation and modest renovation backed by private trade credit; the other proposes a larger historic-preservation mixed-use overhaul with a community floor and higher construction budget. The Select Board asked for further diligence and will schedule follow-up evaluation.
Two development teams made formal presentations June 22 to the Northborough Select Board seeking the town’s approval to redevelop 4 West Main Street. The presentations laid out different approaches to preserving the historic downtown property while returning it to active commercial and residential use.
Attorney David Capellner presented for the team led by Mr. Alzahhar (branded in materials as Northborough Market & Lofts), describing a purchase offer “a little bit over $1 million” and financing that includes a lender commitment of $1.125 million plus $450,000 in personal funds. Capellner said the team had set renovation estimates ‘‘in the range of $300,000 to $400,000’’ with an additional private capital cushion and trade credit available. "We have over a million and a half of financing available," Capellner told the board, adding that the proposal anticipates roughly $422,000 in gross annual revenue and annual operating expenses around $144,000.
Mr. Alzahhar, who identified himself as a long-time local business owner, told the board he has contractors and trade partners ready to perform renovations and said community uses (including possible basement community space) were part of his vision.
Later in the evening Nick Foley, presenting for NRB Trust, offered a larger-scale mixed-use redevelopment emphasizing downtown activation and a dedicated community floor. Foley said his team had run construction estimates in the range of $2.5–$2.6 million (later refined during discussion) and proposed a phased plan: stabilize the building envelope and structure first; open office and retail/co-working and community space next; and deliver apartment units in a final phase. Foley’s proposal relies on achieving at least 80% occupancy in early projections and requests the town’s help on parking rules or variances — his team proposed one dedicated parking space per apartment and shared public parking for other users.
Board members pressed both teams on cost estimates, contingencies and the risk of hidden structural problems. Members repeatedly asked for professional, line-item estimates and recommended the town collect formal inspection reports and updated financial pro formas before moving toward selection. The board agreed to schedule follow-up evaluation and possible executive-session discussion to identify information gaps and next steps.
What’s next: The Select Board did not make a selection at the meeting. Members asked both teams to supply additional documentation, and the board said it would schedule a follow-up session for more detailed review and possible executive-session deliberations.
