John McGrail is a local developer who has turned run-down properties into good, solid homes for people to live in.
The Boston Globe has a profile of him, in today’s newspaper.
McGrail built the business making risky investments in Roxbury, Dorchester, and downtown Lynn, converting run-down buildings into condos.
He’s taken on other unlikely deals such as turning defunct nursing homes into apartments in Mattapan. Now the Mayo Group has 115 employees and owns property throughout New England …
… ”We’ve been entrepreneurial — we had the courage to go into neighborhoods no one would touch," said McGrail. McGrail said he’s often asked why he decided to invest in Boston’s toughest neighborhoods well before the real estate market boom made every investment seem a good bet. ”And the honest answer is, it was all I could afford," he said.
Mr. McGrail and his company, the Mayo Group, have invested time and money in less-popular areas and improved neighborhoods through renovation and new construction. While he’s enjoyed the payoff, he’s also done a lot to improve his tenants’ and buyers’ lives.
Complete article: Location? Actually, it isn’t everything