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The Colvest Group Strengthens Leadership Team with Two Appointments

By
Daily News

Domenick Villano

SPRINGFIELD — The Colvest Group announced two personnel moves: the promotion of Domenick Villano to vice president of Real Estate and the appointment of Patricia Murphy as controller. Together, they will support the company’s real estate, financial, and development efforts across the region.

Patricia Murphy

Led by CEO Frank Colaccino, the Colvest Group specializes in acquiring, developing, and managing office, retail, and mixed-use commercial properties, including projects focused on community revitalization and economic development.

Villano, who previously served as Real Estate manager, has been with the Colvest Group for more than three years. In his new role, he oversees leasing operations, tenant relations, and property management efforts across the company’s portfolio.

Before joining the Colvest Group, Villano worked as Real Estate manager for a B2B sales and e-commerce provider, overseeing a national portfolio supporting fulfillment, delivery, and office operations throughout the U.S. and Canada. He also spent seven years with a Springfield-based commercial real estate brokerage firm, working on office, industrial, retail, and land development projects.

“Domenick has become an integral part of our team and has consistently demonstrated strong leadership and industry expertise,” said Frank Colaccino, CEO of the Colvest Group. “His promotion reflects the value he brings to our organization and our confidence in his ability to help drive the company’s continued growth and success.”

As controller, Murphy oversees the company’s accounting functions, including financial reporting, budgeting, internal controls, and company filings. She is responsible for the financial oversight and reporting processes that support the organization’s operations and long-term growth.

Murphy, a certified public accountrant, brings more than 33 years of accounting experience, including previous leadership roles with Duc-Pac Inc., Vesta Corp., and regional accounting firms Burgess, Robb and Grassetti, in addition to Meyers Brothers Kalicka, P.C. She earned a bachelor’s degree in accounting from UMass Dartmouth.

“Strong financial oversight is vital to every aspect of our business, from managing our existing portfolio to evaluating new opportunities and planning for future growth,” Colaccino said. “Patricia’s role is central to ensuring we have the financial discipline and controls needed to support the company’s continued success.”

The Colvest Group is currently advancing several notable projects in the region, including the Towne Shoppes of Longmeadow retail development and redevelopment efforts in Holyoke and Northampton.

The Colvest Group Files Appeal over Planning Board Modification at Towne Shoppes

By
Daily News

LONGMEADOW — The Colvest Group announced it has filed an appeal with Hampden County Superior Court challenging the Longmeadow Planning Board’s decision to modify the developer’s site plan by restricting access at the primary driveway of its proposed retail development at 916 Williams St., known as Towne Shoppes of Longmeadow.

Colvest says the restriction could put in jeopardy a project backed by the community and expected to generate significant new tax revenue for the town. In all other respects, the board approved the developer’s site plan proposed by Colvest.

The proposed development is designed to expand the Longmeadow Shops area, providing retail and restaurant options that residents have supported throughout the zoning process. It is projected to generate an estimated $250,000 to $300,000 in new annual tax revenue, supporting the town’s growing budget needs.

The project record includes two independent traffic studies, including one commissioned by the Planning Board and reviewed by public safety officials, none of which recommend that full access from the primary driveway be restricted to accommodate projected traffic. Colvest contends that limiting the primary access driveway to right-turn-only exit does not improve safety, according to these studies, and creates inconvenient traffic patterns that threaten project viability and tenant interest.

“This project received strong support from Longmeadow residents, and it represents an opportunity to strengthen the commercial corridor while contributing meaningful revenue to the town,” said Frank Colaccino, CEO of the Colvest Group. “We are filing this appeal to ensure the decision reflects the facts and allows safe, functional development to move forward.”

Colvest’s appeal asks the court to annul the Planning Board’s restriction on left-turn exiting from the primary driveway or to direct the board to revise its site plan approval by deleting the restriction on left-turn exiting from the primary driveway.