Almost 10 years after
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.