Brewer's Hill Project Sold To Greystar (BBJ Story)
A 500-unit apartment project that is part of the upcoming Collective at Canton development was sold this fall to Greystar Real Estate Partners by developer Mark Sapperstein. The deal gives ownership of nearly a third of Sapperstein's latest city development to out-of-town developers who have already broken ground on the Elan Brewer's Hill.The sale was made after Saperstein approached Greystar to develop the property this past year as the $100 million Collective at Canton project started to take shape. Elan Brewer's Hill will be located across from Sapperstein's Shops at Canton Crossing retail development off Boston and Haven streets. The massive multi-family development will have a 650-vehicle garage and sit on a triangle-shaped sliver of land that totals about four acres of the emerging 12-acre Collective at Canton that today is anchored by a Sprouts Farmers Market. Charleston, South Carolina-based Greystar acquired the site for the Class A apartment project in October for an undisclosed price. It is working from designs created by BKV Architects, Sapperstein said on Wednesday.