HopNews
On April 7, 2020, the Board of Selectmen of the Town of Hopkinton took a permanent easement of 4,346 square feet from Hopkinton CP LLC, also known as Crosspoint Associates. This order (the only one where private land was taken) was part of the Main Street construction project, and was necessary to widen the road and straighten the intersection of Route 85 and Route 135. In the process, Crosspoint lost approximately 20 parking spaces.
Crosspoint is located in Newton, and advertises themselves as a “real estate investment, management, and development company with over three decades of successful industry experience.” In 2015, Crosspoint purchased the property that now hosts CVS Pharmacy and Marty’s Fine Wines from the Colella Family, who had owned the land for more than 70 years.
Months prior to the taking, the town had been in discussion with Crosspoint, who were supportive of the Main Street project. According to Town Manager Norman Khumalo, Crosspoint initially signaled that they would donate the land to the town. Attorney Ray Miyares, in an interview with the Hopkinton Independent in 2019, stated that “the donation agreement provides that the town will pick up the costs of certain improvements to accommodate the concerns that have been raised“. Later, for unknown reasons, Crosspoint changed their mind, and asked to be compensated.
In August 2022, Crosspoint received $381,300 from Hopkinton taxpayers, or $87.73 per square foot of land. They were not the only Main Street abutter to receive compensation, but they were the primary recipient, grabbing 24% of the total payout of $1,555,891 to 72 abutters.
A closer look at this data reveals sharp disparities in what individuals received versus corporations. On average, individual homeowners received $10,614, while corporations received $43,600.
The top 5 recipients of Main Street payouts were:
- Hopkinton CP (61 Main): $381,300
- PMG Northeast (location of Hopkinton Shell, 60 Main): $158,200
- Hopkinton Lumber (118 Main): $85,700
- Korean Presbyterian Church (2 Main): $74,200
- Store Master Funding (2 Wood Street): $61,000
Apparently unsatisfied with the amount they were paid, Crosspoint filed a complaint in Middlesex Superior Court again the town last April, alleging that the compensation they had received was “inadequate and does not fully account for the diminution in value of the property or the cost for the new signage and site work to make the Plaintiff whole.” The complaint also alleges that “The Taking has deprived the Plaintiff of the ownership and use of the Property, which has great value.”
As this is an ongoing legal matter, the town had no official comment, but the Select Board is expected to discuss this in Executive Session at their meeting tomorrow evening.
I would think the issue is really about Marty’s liquors. They lost a lot of parking in the change. And that parking lot is really bad now. CVS has a big lot in the back not an issue for them