Another Bank To Open In Coolidge Corner

BROOKLINE, MA — How many banks can fit in Coolidge Corner? Well, apparently one more. Chase Bank is slated to join East Boston Savings Bank, Santander, Century Bank, Capital One, Bank of America, Brookline Bank, Webster Bank, Eastern Bank, Citizens Bank, yes, that's nine other banks, in Coolidge Corner, this spring.

According to Chase Bank's website, the bank is set to open on April 9, where the old Lady Grace sat for years at the corner of Beacon and Centre streets.

Good news for Chase Bank users.

But not all residents are excited. Some argue that banks tend to close early and with online banking there's little reason to actually go to a bank branch. Many have said they'd like to see more of a mix of businesses or restaurants in Coolidge Corner that offer experiences, rather than banks, which tend to be focused only on banking and close by 6 p.m.

Brookline does not have a policy on limiting the different types of businesses (and thus banks) in commercial areas, although some residents have inquired about it in the past.

The silver lining?

Banks do tend to sponsor local events or not profits for the region. Brookline Bank, has opened up the Art Gallery in conjunction with the town. And Capital One has its own Peet's Coffee inside its branch.

So there's an opportunity for banks to branch out and support the community needs in new ways, said Brookline's Economic Development Director Kara Brewton.

"Many of our banks participate and are very active in the local merchants group or the chamber. And that's really helpful to have that banding together with local businesses," said Brewton.

However, one of the more frustrating things for merchants, residents and the town planning department has been when a corporate chain decides to come snatch up multiple properties in a region and then hold off on developing or opening them for months, said Brewton.

"It makes it look like they're vacant properties when they're not," she said.

The space was unoccupied for months with only a small sign in the window. Renovations only recently started.

"Bigger corporations are just not as nimble as smaller businesses," said Brewton.

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Photo by Staff Reporter Jenna Fisher. Fisher can be reached at Jenna.Fisher@patch.com or by calling 617-942-0474. Follow her on Twitter and Instagram (@ReporterJenna).