WORCESTER, MA-The Abrams Group LLC and the Callahan Cos. inked a joint venture agreement to transform an historic mill here into 97 luxury, loft-style condominiums called “The Fremont.” The total construction cost is estimated to be $15 million and work is expected to begin on the endeavor in the fall.

This is just one of a number of developments already in the pipeline for Worcester, which is experiencing a development renaissance with nearly $2 billion in projects completed, proposed, or under way. In fact, under the city’s Economic Development Incentive Program, 27 projects were completed, and 8,800 construction jobs were created in the past four years.

This marks the first joint venture for the Boston-based Callahan and the Bridgewater, MA-headquartered Callahan. The 160,000-sf, brick building, located at 160 Fremont St., formerly was home to the L. Farber Co., which purchased the building in 1951. More recently it served as temporary quarters of the Worcester Public Library.

Amenities to the lofts, which are expected to be priced starting at $150,000, include 12-to-18-foot ceilings, original wood plank and beam exposed ceilings, sandblasted brick walls, and hardwood floors. In addition, each unit will be pre-wired for cable, high-speed internet and telephone. The complex also will include a state-of the- art fitness facility and a media/business center.

Abrams’ other projects include 135 loft-style apartments in Lowell, luxury condominiums in Boston and Brookline, and office buildings in Lawrence and Lowell. Callahan projects are located throughout New England and Florida. Recent projects include 180 apartments at Marina Bay in Quincy, MA, 396 apartments in Westlake, Fl, the Oceans Grande Condominium in Dayton Beach Shores, condominiums in Brookline and Whitman, MA as well as numerous schools, hotels and retail stores.

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