The Bigger the Better: Locals Outbidding Regional Firm for Woodfall Road Parcel

It's a David versus Goliath of those placing bids for the long-abandoned town-owned parcel on Woodfall Road as a Common Street resident has cobbled together a local team to challenge the well-established regional firm that built the luxury residences on the McLean Hospital land.

But this David is carrying a really big rock.

When bidding closed for the parcel filled with gnarly weeds, rotting trees, cement blocks and marshy ground on Oct. 31, Burlington-based Northland Residential Corp. – which built the award-winning Woodlands at Belmont Hill – and Common Street resident Jeff Nadherny responded to a town-issued Request for Proposal submitted preliminary proposals for the 5.4-acre site where both hope to build four posh residences. 

What differentiate the proposals is just what the bidders are willing to pay for the chance to build up-to-four upscale single-family homes (in the range of 2,500 square feet and 3,500 square feet) on the plot. Like a good player at the poker table, Nadherny's team – which includes well-known Belmont architect Erik Rhodin – appears willing to push "all in" to win the pot.

Where Northland's offered $750,000 for the site – which would be paid for in cash money – Nadherny's Greenbrooks Development is willing to put down a whopping $2.2 million for the undeveloped land, nearly three times Northland's. In fact, on the bid proposal, the team actually crossed out an initial offer of $2,000,001 in ink and upped the ante to the current bid. 

While nothing to look at now, the land is in the Hillside section of Belmont Hill, adjacent to the exclusive Belmont Country Club and neighboring a community of seven-figure homes. Apparently, Nadherny – who owns a real estate advisory firm – sees a whole lot more potential for the property than Northlands, a firm with 40 years of experience in building communities.

"Relative to the development of high-end homes on each of the four lots, we priced our bid accordingly. If there is something Northland knows that we don't, I guess we would learn about that in our due diligence. I have no reason to believe that is the case," Nadherny wrote to Belmont Patch as he is traveling out of the country. 

While Nadherny is leading this group of locals, it's not like he's coming into the fight alone. In fact, he's got a big backer standing besides him.

Partnering with Nadherny is Dani Chedid of the Phoenix Construction Group, formerly of Watertown, now in Lexington. Chedid, who is an award-winning contractor, builder, remodeler, is best know in this neck of the woods for his prize-winning revitalization of a Watertown church into upscale condos known as the Bell Tower Place on Mt. Auburn Street.

He is also active in building new, large structures on to of and in addition to existing houses. Recently, he transformed a 1,800 sq.-ft. Belmont Hill ranch into a Colonial on steroids, now 6,500 sq.-ft., large enough to house its own racquetball court. 

While best known for this construction, it is Chedid's ability to obtain substantial financing for a possible Woodfall Road project where his presence is most felt. One part of the Chedid's firm is the Phoenix Private Group,  a privately-held investment group that, according to its web site, "assist clients in growing their wealth over time primarily through real estate projects."

While the Group is known for targeting investment's with "international projects in frontier markets" (Chedid's former clients included the World Bank and the United Nations) it also has "created a deal making environment between land owners and our investors." 

In fact, it is Chedid's initials besides the upped $2.2 million bid price on the team's proposal to the town. 

The proposals will now go to the Community Development Department before public meetings are held. David Kale, Belmont's Town Administrator, said a schedule of hearings has not been formulated.