Madison Properties

Developer Madison Properties of Boston has formed a joint venture with California private equity firm Whitman Peterson for a 235-room dual-brand hotel planned at 369 Washington St.

The $53 million development also will include three retail pads, two of which are leased to Red Robin and Chick-fil-A. Concord Hospitality Enterprises Co. will be the hotel operator for the dual-branded Homewood Suites and Hampton Inn & Suites.

Madison Properties remediated the former Superfund site, a former W.R. Grace & Co. property near the junction of Routes I-95 and I-93. Colliers International’s Boston capital markets group arranged the joint ventures.

Boston-based Davis Cos. and Rubicon Cos. recently completed a $16 million renovation of the nearby Hilton Boston/Woburn hotel at 2 Forbes Road, with updates to its 344 guest rooms, new social areas and conversion of the glass atrium lobby into a Spanish-themed restaurant.

Dual-Branded Woburn Hotel Adds Joint Venture Partner

by Steve Adams time to read: 1 min
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