By Tom Acitelli
Chevron Partners, a joint venture between Paris-based developer Fulton and Boston investor Marcel Safar, has purchased the Bay State College dormitory at 260-262 Commonwealth Avenue for $14,000,000.
The venture plans to turn the double brownstone dating from 1880 into a five-unit luxury condo with on-site parking called Maison Commonwealth.
The developers know what they’re doing: Chevron is the same force behind the seven-unit conversion of 41 Mount Vernon Street, which will open this summer as Maison Vernon (most of the luxury condos there are already spoken for).
The group has purchased five properties total in the Boston area since 2014, the latest 727 Massachusetts Avenue in Cambridge’s Central Square.