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Assisted Living Companies
QUESTION: The Town of Arlington has been trying for two years to get an
assisted-living development built on a vacant property that
was once owned by BayBank and is now owned by FleetBoston.
Two different assisted-living companies have now broken off
negotiations with Fleet, and Fleet now plans to sell it to
some other developer who may not build assisted living there
at all.
ANSWER: I'm not an expert on commercial real estate deals but reading
that article makes me think that Arlington didn't do a whole
lot to expedite the deal.
If the town was so interested in the deal couldn't they have
offered to speed up the permitting/review process so Fleet could
get the 'cash & carry' deal that they were looking for ?
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