“It’s the perfect situation, and I think everything is going to come together,” said developer Ed Murphy, the owner of the Worcester-based Baystate Investment Fund, who owns several properties around the future ballpark site.
Worcester had its own development boom in recent years before the PawSox announced their intention to morph into the WooSox. CitySquare, a $565M mixed-use multiphased development, is underway on the site of the old Worcester Common Outlets mall downtown. Roseland Residential Trust completed 145 Front St. at City Square earlier this year. Boston-based Trinity Financial is reportedly investing $55M to turn the former Worcester County Courthouse into 114 units of housing.
“I think the increased cost of living in Boston and the improvement of Worcester’s reputation since 2008 has helped,” Murphy said. “A lot of people have come back home when, in the past, they may not have wanted to.”
Click here for the full article: https://www.bisnow.com/boston/news/commercial-real-estate/how-the-woosox-could-birth-a-central-massachusetts-building-boom-92269?utm_source=CopyShare&utm_medium=Browser
Real estate interest grows
Real estate developer Ed Murphy's Kelley Square office lies less than half a mile from the long-abandoned Wyman Gordon property where the stadium will be built.
And while he is not yet fielding calls from national chains looking to set up shop nearby, there was a surge of interest as the PawSox deal became reality in recent weeks, he said.
"There's been an influx in the last two weeks of local tenants," Murphy said. "There's also investors calling about properties we have in the neighborhood to purchase."
Kelley Square, the city's chaotic, stoplight-free gateway between I-290 and the Canal District, will receive a state-funded overhaul to prepare for additional traffic, officials said Friday. According to Murphy, that will be a necessity.
"Pumping this much traffic through there 100 plus nights to year, it's going to need some tweaking," he said.
With the stadium not opening until in 2021, Murphy said property prices will likely increase on speculation of the foot traffic and economic activity to come.
Murphy said he plans on attending games and concerts once the stadium is open.
"I'd love to support the team," Murphy said. "I think it's a great thing for me to be able to walk from my office and go to a game."
Click here for the full article:
Heroin, squatters and absent owners: How one Worcester developer plans to save the city's 'worst property'
When developer Ed Murphy decided to acquire a troubled 16-unit apartment building at 1 Quincy Street in Worcester, he knew he would face challenges.
He didn't expect to find himself staring down the barrel of a gun.
As Murphy and his workers checked out the property before closing on the deal, a tenant mistook them for squatters and pulled a handgun on them, Murphy said in an interview.
"He told us he just got out of jail and wasn't scared to go back there. We defused it saying 'hey, we're property management, we're friendly.' It was a pretty interesting experience," Murphy said. "I wouldn't want to be here at night."
Click here for the full article: https://www.masslive.com/news/2018/02/ed_murphy_85_chatham.html
Developer Edward Murphy
Worcester’s Canal District has the reputation of being a place where people go to party. At least one developer is trying to bring a bit of class to busy neighborhood.
Edward Murphy is behind the revitalization of three key properties on Water Street, the old Bucky’s Garage, on 56 Water St., Widoff’s Bakery on 129 Water St., and the former Perfect Game building, on 64 Water St. He’s brought the popular Queen’s Cup bakery from Millbury to the Canal District, and is working on building 16 one-bedroom luxury apartments in the Perfect Game building. Most recently, Murphy found a tenant for the long-empty Widoff’s Bakery building, a Brazilian kickboxing studio. These projects combined make Murphy a formidable force in the Canal District, and someone to watch during the Worcester Renaissance.
Click here for the full article: https://www.masslive.com/news/worcester/2017/12/these_are_the_people_behind_wo.html
Murphy's interest in business first came working after school for his father's fire truck repair firm. Murphy obtained his real estate license at 19, and then acquired weRENTboston in 2005. He started weRENTcentralmass in 2008 – becoming the market leader in rentals – and then acquired the city's largest apartment rental agency, Guardian Select. Murphy then launched 7 Hill Property Management to provide services beyond leasing. In 2012 co-funded Stage One Investors to buy delinquent real estate tax and convert it into revenue for municipalities. That same year, he founded Baystate Investment Fund to buy and redevelop real estate.
If you spoke at a college graduation, what would the message be? I have failed miserably, so many times. Once you understand you can't move forward looking in the rear-view mirror, be prepared for your greatest successes.
Why work in Central Mass.? Boston real estate is for institutional investors. Central Mass. provides an opportunity for me in a growing market.
Click here for full article: http://www.wbjournal.com/article/20170821/PRINTEDITION/308189970/40-under-forty-edward-murphy
A self-taught baker and without any business experience, King said she opened her original bakery “totally going out on a whim.” She took a leap of faith and never looked back, she said.
King’s close friend, Amy Chase, owner of Crompton Collective in Worcester, and Edward Murphy, King’s landlord, were instrumental in her decision to move to Worcester. She said she also discussed her plans with other business owners she knew in the Canal District. “Everyone said, ‘Go for it,’ ” said King.
Click here for the full article: https://www.telegram.com/entertainmentlife/20170817/table-hoppin-cupcake-fans-hail-to-queens-cups
WORCESTER -- The Canal District music series is bringing its biggest act yet tonight, and is hoping to attract more than 1,000 people to Kelley Square for free music and food trucks at 6:30 p.m.
Neighboring businesses that sponsor the event have managed to book Howie Day, whose 2004 hit "Collide" rose to number 20 in the Billboard Hot 100, and has more than 20 million views on Youtube.
Ed Murphy, who owns real estate in the Canal District, is the first to admit that the acts the music series can attract are not always hit-makers, but when they first pitched the idea to local business sponsors they also did not expect to raise more than $25,000 in just eight weeks.
"It started out as this idea to get little rinky-dink local bands to put on a show on Wednesdays," Murphy said. "This was all put together in about eight weeks, which says a lot about what the businesses in Worcester are willing to do to help out."
Click here for the full article:
WORCESTER - Conceived as an idea in Three G’s Sportsbar on Millbury Street some 25 years ago by a group of local business owners and stakeholders, the Canal District is now flourishing into one of the more energetic and thriving commercial districts in the city.
An area that used to be known more for its vacant buildings, empty storefronts and crime problems, the Canal District today is riding the wave of a revival that has brought new life to that part of the city in the form of new businesses and a lot more foot traffic.
Property owners have spruced up the appearance of their buildings through the city’s facade improvement program, while the city has made a significant investment as well, using federal dollars obtained by U.S. Rep. James P. McGovern, D-Worcester, to make a number of sidewalk and street improvements.
“There’s a lot of good things happening here,” said Mayor Joseph M. Petty during a walking tour he led through the Canal District Tuesday afternoon. “This area is really taking off by itself. It isn’t because of government but rather because of the private investments that have been made by the business owners here. When you look at all the investment they have made, they certainly deserve a lot of the credit for what is happening here.”
Write something about yourself. No need to be fancy, just an overview.