Demolition Begins on Jae’s Restaurant, on Stuart Street, in Boston’s Bay Village

Almost 10 years after

English: Boston's Back Bay from the Longfellow...

English: Boston’s Back Bay from the Longfellow Bridge (Photo credit: Wikipedia)

Jae’s Restaurant, in Boston’s Bay Village neighborhood closed, the eatery’s long vacant home is coming down. Demolition will take place over the next 8 weeks said property owner, Boston’s Revere Hotel. Several delay’s and the overall economic conditions have stalled the development of the property since 2006. The Boston Redevelopment Authority originally approved the construction of an 8 story building that would contain 18 condominiums and over 33,000 square feet of ground floor retail spaces. That proposal was later shelved due to the real estate markets downturn.

In 2012, Northwood Investors, owners of the Revere Hotel, bought the vacant building for $3.3 million. It is unclear as to what the Hotel plans to do with the vacant property.

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MAXWELL@BOSTONLUXE.COM • CELL: (617) 543-7754 • OFFICE: (617) 267-4600 Maxwell Burke began his real estate career nearly 20 years ago doing appraisals with his father in Southern California and Northern Texas. He grew up in a family environment so oriented towards investment and real estate that to call his upbringing entrepreneurial would be a disservice. From his grandfather's multiple developments ranging from British Columbia down into Southern Mexico to his uncle's holdings in Portland, Oregon, Maxwell has been given a view not just of Boston real estate, but of American real estate. Maxwell and Drew Abysalh met in 2009 and increasingly consolidated their business models together culminating in their partnership in 2011. With over 300 real estate deals under his belt ranging from a standard rental to a $1.5 million condo conversion, Maxwell is a tremendous resource to help you realize your real estate dreams. Welcome to Boston Luxe - it's a pleasure to meet you. Google