Downtown Worcester apartments at center of CitySquare redevelopment sold for $122M
Photo | Courtesy of Kelleher & Sadowsky
145 Front at City Square
145 Front at City Square, a 365-unit mixed-use building in Downtown Worcester at the center of the effort to revitalize the neighborhood following the demise of the Worcester Galleria, has been sold for $122.2 million to a Boston-based investment firm.
Veris Residential, the New Jersey-based real estate firm that constructed the building for $97 million in 2018, sold the property on July 22, according to a company filing with the U.S. Securities and Exchange Commission.
The building was sold to Jones Street Investment Partners, a Boston-based firm, according to Worcester District Registry of Deeds records. The company holds more than 6,500 apartment units and $1.8 billion in assets under management across eight states, according to its website.
Jones Street’s other properties in Central Massachusetts include Union House, a 196-unit apartment building in Downtown Framingham, and Ashford Crossing, a 180-unit apartment building in Shrewsbury.
The property is part of the former site of the Worcester Galleria, which later evolved into the CitySquare project. The sale of 145 Front follows the June 30 sale of 3 Eaton Place, the last undeveloped parcel in the CitySquare area.
Under Veris’ ownership, 145 Front had an occupancy rate of 95.2% in the second quarter, according to the company’s second-quarter earnings release. Asking rents range from $2,227 for a studio to $2,749 for a two-bedroom unit, according to real estate data firm CoStar.
Amenities for residents in the five-story building include a pool, on-site garage, golf simulator and sports lounge, and in-unit washer/dryers, according to Apartments.com.
In addition to apartments, the building is the site of Cluck & Crispy Chicken and a Fidelity Bank branch.
The 3.98-acre property received a 2025 tax assessment value of $88.33 million, according to City of Worcester property records.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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