THE PRINT EDITION
THURSDAY SEPTEMBER 30, 2021
VOLUME XIX- ISSUE 74
51 Melcher Acquired
The imposing entrance of the mixed use building at 51 Melcher Street. Now acquired by GI Partners, its 100,000 square feet may house future life sciences labs.
by Rick Winterson
F
ort Point’s Melcher Street runs from A Street, bends to the right at its top, and joins Summer Street at the eastern end of the
Summer Street Bridge. A densely built-up cluster of mixed use buildings extends up Melcher on both sides. Originally, many of these were warehouses and offices connected with the woolen industry, which once f lourished in South Boston/Fort Point. Recently, the sale of the building at 51 Melcher was announced. GI Partners, an investment firm headquartered in San Francisco, acquired #51 for $75 million from Zurich Alternative Asset Management LLC, which is located in New York City and is a subsidiary of the Zurich Insurance Group (Zurich is Switzerland’s largest city). We have been informed that Zurich Insurance paid approx imately $50 million for 51 Melcher Street, when they bought it eight years ago. The stated objective of GI’s 51 Melcher Street acquisition Continued on Page 2
Art in the Park: Free Class Draws People to Pappas Way
By Ginger DeShaney
T
he setting was amazing, the weather was perfect, the class was a blast, and people were happy to be outside. Almost 50 people gathered at the Rec Station at Pappas Way last Saturday for an afternoon of exploring color and paint.
Local artist Erica Goldstein, founder of the Blank Canvas Co., led the free community art class in which adults painted an Aperol Spritz and kids painted oranges. Teachers Gabriella Mirabella and Jill MacInnis came in from out of town for the event. Jill heard about the event on Erica’s Instagram. Jill and
Continued on Page 4
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