Business

Done deal: Caritas Christi closes sale to NY firm

By 
Reporter Staff
Nov. 8, 2010

The sale of six hospitals in the Caritas Christi to an affiliate of a New York capital management firm is complete, officials said Monday.

The finalization of the multi-million dollar deal, with Cerberus Capital Management, LP, comes after sign-offs from the state Supreme Judicial Court, Attorney General Martha Coakley, and the state Department of Public Health. The Vatican and the Archdiocese of Boston also approved the sale, which turns the system into a for-profit institution.

The six hospitals include Carney Hospital in Dorchester, St. Elizabeth’s Medical Center in Brighton, Norwood Hospital, Good Samaritan Medical Center in Brockton, Saint Anne’s Hospital in Fall River, and Holy Family Hospital in Methuen.  Read more

Meeting on Nov. 1 will give Fields Corner community a look at Lucky Strike site plan

By 
Mike Deehan, Special to the Reporter
Oct. 20, 2010

Residents of Fields Corner will get their first look at a revamped proposal to develop the former site of the Lucky Strike bowling alley at Park and Adams streets on Mon., Nov. 1, when the project developers host a meeting for community members and abutters.

Former Fields Corner Civic Association president Hiep Chu will find himself on the other side of the issue at the meeting, having recently left his position with the association and joined the Lucky Strike development team as a paid consultant.  Read more

Public health board approves Caritas sale

By 
State House News Service
Oct. 13, 2010

The state Public Health Council on Wednesday unanimously backed the sale of the non-profit Caritas Christi hospital chain to Steward Health Care System, a subsidiary of the major private equity firm, Cerberus Capital Management.

The proposed transfer of the six hospitals attracted a crowd of about 100 to a council meeting Wednesday morning.  Read more

Long road to market: neighbors get update on Dot Ave. project

By 
Gintautas Dumcius, News Editor
Oct. 13, 2010

The attorney representing the owner of 1188 Dorchester Ave. said this week the property is closer to becoming an “international” supermarket and could open by the end of the year. He defended the owner of the property, Khiet Tran, and said the cost of cleaning up the site, purchased in 2006 and found to be contaminated with chemicals, had skyrocketed to $500,000 and slowed down construction.

At a Tuesday night meeting of the Columbia Savin Hill Civic Association’s planning committee, attorney Kim Woongtae also cited bad weather and bureaucratic red tape as reasons for the construction delay. He also said that the site had been vandalized, with racially-tinged graffiti spray-painted onto some of the remaining windows.  Read more

Codman Square Health Center may purchase Dot Ave. building

By 
Gintautas Dumcius, News Editor
Oct. 7, 2010

The Codman Square Health Center is eyeing the ODWIN Learning Center’s Dorchester Ave. headquarters, officials with the health center said this week. The health center’s board of directors last week gave the go-ahead for the center, located in Peabody Square, to explore a purchase of the property.  Read more

Coakley gives approval to Caritas deal

By 
Gintautas Dumcius, News Editor
Oct. 6, 2010

Attorney General Martha Coakley has signed off on the proposal that will transfer six Catholic hospitals, including Dorchester’s Carney Hospital, to a for-profit New York firm. The deal, which still needs the approval of the state’s highest court and the state Department of Public Health, comes with a number of strings attached for Cerberus Capital Management L.P., whose affiliate, Steward Health Care System LLC, is handling the agreement.  Read more

Waiting with bated breath for news on Caritas deal

Local elected officials, who have frequently sought to save Carney Hospital from being shuttered, greeted the headline in Friday’s Boston Globe – “Caritas warns of 2 hospital closures” – with caution, saying the hospital chain has frequently mentioned that a New York private equity firm’s ownership investment is necessary if the six-hospital system is to remain viable.  Read more

McDonald's owner seeks drive-thru at Gallivan restaurant

It’s long been the fast food equivalent of the Holy Grail for those in the burger-and-fry business on Gallivan Boulevard: a drive-thru. Tonight, the owner of the McDonald’s restaurant on Gallivan Boulevard will gallantly attempt to persuade neighbors in Cedar Grove that it’s time to install one there — despite a long history of community opposition dating back to the mid-1960s.

Jeff Brewster, who owns and operates several McDonald’s in the Boston area, will make his case in front of the full membership of the Cedar Grove Civic Association, which meets tonight at 7 p.m. at St. Brendan’s Fr. Lane Hall.  Read more

New owners of former C. F. Donovan’s plan ‘family’ establishment

By 
Gintautas Dumcius, News Editor
Aug. 12, 2010

C.F. Donovan's: Sold at auction today for $875,000 to owner of McKenna's Cafe.C.F. Donovan's: Sold at auction today for $875,000 to owner of McKenna's Cafe.The site of the former C. F. Donovan’s restaurant was sold Thursday morning at a sidewalk auction to the owner of McKenna’s, the café across the street, and a local financial planner.

The winning bid for the former restaurant, which longtime owner Arthur Donovan lost to foreclosure, was $875,000. The property comes with a liquor license, a tax lien from the state Department of Revenue, $6,297 in back taxes and outstanding water bills and sewer charges totaling $2,731.

“We’re doing it for the neighborhood,” said Ken Osherow, president of At Home Real Estate Group, which is located next to McKenna’s café. Osherow, who is also planning to open an ice cream shop down the street, said the restaurant will have a “family” atmosphere.  Read more

Cookouts, Fireworks and Farmers' Markets

By 
Alex Owens, Special to the Reporter
Jul. 14, 2010

The annual farmers’ market is rapidly becoming a regular part of summer fare, joining cookouts, fireworks, and trips to the beach in the traditional lineup.  Read more