“You gotta take the granny out of a lot of the homes in Medford,” says Christian Petrillo, a lifelong resident of the city, and Managing Partner at Newbury Street-based Entrepid Capital Partners. Next month, in conjunction with Waypoint Companies, Petrillo’s company launches The Residences @ One St. Clare in Medford, a conversion of the St. Francis of Assisi School building into a new condominium housing 18 residences.
“We’re redefining what living in Medford can be. We have raised the bar. These offer a city feel that’s sleek and chic, with roof decks and city views,” he says. The city view being Boston, a place where, like Petrillo, people work but prefer to leave behind at the end of the day and head home to a quieter area. Like Medford?
“You feel like you’re somewhere else, there’s the Fellsway to explore, yet you’re ten minutes from Boston,” says Petrillo. He may feel he doesn’t have to talk up his latest project, as there are no other condos currently on the market in Medford.
“Zero condos, no inventory,” Petrillo says. “We have a list of people waiting for these to become available.” And then there’s the granny factor, with many single-family homes currently for sale.
The Residences @ One St. Clare isn’t just any project, and it was essential to Petrillo it be well received, not just to make money.
“I drive by the building everyday, I am connected to this neighborhood, not just to the city,” he says. “I was married at St. Francis church and my children were baptized there.”
The Residences @ One St. Clare have been three years in the finishing, one and half of which were spent working with the city and with neighbors on permits and the design.
“With houses of worship, they’re a cornerstone in the community,” Petrillo says. “There’s a lot of emotional ties and you have to be respectful of concerns. We held meetings and listened, altered plans, then held more meetings. If there were problems, we addressed them. It’s always a good plan to listen to the neighborhood.”
What you get
The Residences @ One St. Clare includes 18 condos starting at around $399,000 for a one-bedroom with around 950 square feet of living space. The most extravagant home is a two-bedroom, two-bathroom penthouse, which encompasses about 1400 square feet, and has a private roof deck. The price tag is $749,000.