Thursday, June 08, 2017

Hilltop Steak House Property Sold to AvalonBay Communities; Mixed-Use Development on the Way

One of the most iconic pieces of the "old" Route 1 has officially been sold, and plans for the site have now been announced.

According to an article in itemlive.com, AvalonBay Communities has closed on the sale of the Hilltop Steak House site in Saugus, buying it from High Country Investor Inc. for $17.2 million. The post says that the property will become a mixed-use development with three residential buildings and a fourth building that will be one story high and used for retail. It is not known what restaurants--if any--might be moving into the commercial building at this point in time; as soon as we find out more, we will post an update here.

Based on information from the article, it looks like the complex won't be finished for at least two years.

The Hilltop Steak House closed in the fall of 2013 after being in business for more than 50 years; there has been talk of preserving the landmark cactus sign out front, and this appears to remain the case, according to a post in the Boston Business Journal.

Follow us on Twitter at @hiddenboston


[A related post from our sister site (Boston's Hidden Restaurants): List of Restaurant Closings and Openings in the Boston Area]





Labels: , , ,

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home