news & press

Another boutique hotel is coming to the South End, this one with an unusual spin on the city’s history, from fine arts to disco. Mount Vernon Co. said it will open the Revolution Hotel later this year, turning the former YWCA at 40 Berkeley St. into a 164-room hotel that will “reflect Boston’s rich history of notable innovations, rebellious individuals and revolutionary events.”

BOSTON—Some investors buy on the margin. In Allston-Brighton, Mount Vernon Co. just bought on the hyphen. The homegrown firm led by founding principal Bruce Percelay paid $12 million Friday for 103 North Beacon St. a 27,350-sf commercial building Boston Realty Advisors listed for sale this March, the well-regarded 1.5-acre property serving as longtime home to Wolfers Lighting and its elaborate showroom.

Mount Vernon Co. has just paid fellow homegrown developer Clifford Long $6.8 million for a chic 12-unit South End Inn, as usual the deal done with a broader scheme in mind. Chandler Studios complements a 210-unit hotel at 40 Berkeley St. MVC founder Bruce A. Percelay purchased in April 2014 for $17.2 million.

Boston real estate investment firm and landlord Mount Vernon Co. is seeking city permitting for a five-story, 74-unit apartment building in Boston’s Allston-Brighton neighborhood and a separate four-story building with nine condos across the street.

In the face of a new year, Boston’s development community says more housing is a necessity if the city expects to continue courting corporations and the office expansions they provide.

As Boston loiters in the HQ2 purgatory awaiting Amazon’s short list, two of its biggest names in CRE think the city is on solid footing. But that does not mean Beantown is invincible.

For decades, Ardo Garabedian’s gas station and parking lot along Western Avenue in Brighton were surrounded by a ragtag array of used-car dealerships, and the dilapidated remnants of the old Charles River Speedway.

The Mount Vernon Co., a Boston-based apartment owner, and developer, this week filed expanded plans with the city regarding its proposed 132-unit residential complex on Western Avenue in Brighton. The company is planning a 128,052-square-foot, six-story residential building with three retail stores at 530 Western Ave.