TCR Development and JB Ventures Acquire Hotel Alexandra

TCR Development and JB Ventures have acquired the Hotel Alexandra property for $11 million.

The property features 8,025 square feet of land located at the corner of Massachusetts Avenue and Washington Street, on which stands a five-story, 27,367-square-foot vacant historic building built in 1875 formerly home to a luxury hotel, Hotel Alexandra. The building stands on a 5,167-square-foot lot and features 12+ foot ceilings with abundant natural lighting. Retail is located along the building's ground floor; the building also features a full basement. A 2,858-square-foot vacant parcel is located adjacent to the building. 1759-1769 Washington Street is located across from the Massachusetts Avenue MBTA Silver Line rapid transit station a short drive or public transit ride to Downtown Boston.

The approved joint venture project between JB Ventures and TCR Development calls for full restoration of the existing facade and construction of a new 12 story boutique hotel with 150 rooms and ground floor retail space.

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