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Thursday, February 8, 2007

Money, money everywhere, but not a thing to buy

Citibank will be serving up a different sort of green in the former Zathmary's gourmet food store space.
(Globe Staff photo by Mark Wilson)


Sure, residents of Needham Heights will have plenty of places to put their money. But will they have anywhere to spend it?

Continuing a trend that is fast turning the Heights into Needham’s banking district, the Planning Board recently approved Citibank’s application to move into the former Zathmarys gourmet food shop on 1000 Highland Avenue. Meanwhile, across the street, Eastern Bank will open in the demolished Needham Appliance store and Brookline Bank will soon make a new home at the former Mayfair Cleaners down the street at 902 Highland.

Property owner Bill McQuillan of Boylston Properties considered restaurants and retail stores for the vacant Zathmarys space, but said he was comfortable with Citibank, having worked on a deal with them to open a branch in Boston’s Fenway neighborhood.

Citibank officials didn’t seem worried about competition from their neighbors and “expect to find a niche,” McQuillan said.

-– Lauren K. Meade

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