Client Success

Sherin and Lodgen represents Massachusetts Department of Transportation in negotiation of long term ground lease for Haymarket hotel and retail project

December 10, 2019

Sherin and Lodgen represented Massachusetts Department of Transportation (MassDOT) in the negotiation of a long-term ground lease for a $125 million development project at 111 North Street (known as Parcel 9). The project, a joint venture between CV Properties, Harbinger Development and Olshan Properties, will include a six-story, 212-room Canopy by Hilton boutique hotel built on a 1.2 acre site near the Haymarket area of Boston. In addition to the hotel, the project will include over 12,000 sq ft of retail and restaurant space and construction of both street level and interior improvements for the historic Haymarket pushcart vendors.

The Sherin and Lodgen team was led by Peter Friedenberg. In addition to negotiating the development agreement and ground lease with the developer team, Sherin and Lodgen conducted the review and analysis on behalf of MassDOT of project permitting materials, design and construction contracts, investor documentation, and other project documents.