"It's never easy to get financing," Richard Friedman, CEO ofCarpenter & Co. tells GlobeSt.com. "But strong projects withstrong sponsorship and strong locations can selectively get done."The 189-room hotel will fly the Marriot Flag but Friedman willretain ownership, according to Amy Schectman, economic developmentofficer for the town of Brookline.

The project has been nearly four years in the making and wasinitiated by the town, which owned the 32,000-sf parking lot wherethe hotel is being built. The town, which has only one other hotelthat was developed "at least 25 years ago," says Schectman, wanteda hotel on the site. "Municipalities are always under the gun toexpand their tax base," notes Schectman. "Hotels not only payproperty taxes but they also pay a room tax so it's an extrarevenue source." Schectman adds that the town felt the increase infoot traffic from business and leisure travelers would benefit thebusiness area of Coolidge Corner.

Preserving the business area is also why the town insisted on avery specific design for the building, which, says Schectman, "fitsexactly on the site and doesn't cast shadows on the surroundingareas." The hotel will not have a restaurant in order to encouragetravelers to patronize local establishments. As part of the dealwith Carpenter & Co. the development firm will be renovatingnearby Webster Street at a cost of just under one milliondollars.

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