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Cherrytree Group Funds Renovation of Landmark Massachusetts Building

Preservation of a registered historic landmark in Lowell, MA has begun, following completion of pre-development funding for the Lowell Legacy Hotel. The funding was arranged by Newton, MA-based Cherrytree Group, which allows construction to begin this winter.

The five-story building, built between 1896 and 1905, was recently declared eligible to receive Federal tax credits for historic preservation. Syndication of the tax credits is being managed by Cherrytree Group through a fund created for development in economically-distressed cities, known as “ Opportunity Zones.”

For roughly 42 years the Panagiotopoulos family’s Athenian Corner Restaurant has served as a landmark dining destination in Lowell at 207 Market St. In partnership with Madison Security Group, and $825,000 in pre-development capital from Cherrytree’s affiliate Hampton Financial Partners, rehabilitation of the restaurant commenced. A boutique hotel is also being added with 52 guest rooms as well as banquet facilities.

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Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.