Eight improvement corporations submitted proposals that adhere to Medford’s imaginative and prescient for a transit-oriented, mixed-use district above the MBTA’s Wellington station.
The builders have been responding to a Request for Information issued by the City of Medford, searching for methods to remodel the 28 acres of city-controlled air rights above the MBTA-owned land, based on Mayor Breanna Lungo-Koehn.
The proposals included multi-family housing, resorts, business workplaces, leisure, ground-floor retail, public parking, and open area facilities, comparable to bike and pedestrian connections.
“The city had been sitting on these air rights for decades and had not realized the potential the area had for creating a transformative environment for significant commercial and residential growth,” Lungo-Koehn mentioned in a Friday assertion.
“We have an opportunity here to make a substantial investment in transit-oriented housing and mixed-use development, which can make the Wellington area a destination for new businesses, families and workers.”
The website over which the air rights exist is at the moment a mixture of commuter parking, the Wellington station and rail operations services.
The MBTA has publicly shared plans for a future electrical bus upkeep facility on a portion of the positioning at the moment used for commuter parking.
The mayor’s workplace mentioned the town is working collaboratively with the MBTA to align priorities for the positioning, and perceive operational wants and impacts.
The website contains intensive waterfront entry, location on the “burgeoning” Orange Line hall, and uninterrupted views of the Boston skyline, based on the mayor’s workplace.
The eight corporations that responded to the September Request for Information have been Able Company, The Davis Companies, Greystar Real Estate Partners, HYM, New England Development, Preotle Lane & Associates, QuakerLane Capital, and RISE Together.
Able Company proposed a mixed-use improvement of multi-family housing, life science analysis, technical and life science manufacturing, medical and medical workplaces, and ground-floor retail.
The Davis Companies submitted a proposal for public parking and a mixed-use improvement with residential housing.
Greystar proposed residential housing and public parking, saying that it envisioned a mixed-use hub.
HYM envisions a mixture of business, retail, residential, public parking and open area on the positioning.
New England Development proposed residential, retail, a life-sciences workplace and lab, a marina, boathouse, resort, open area and public parking.
Preotle proposed residential, workplace, retail, a resort, open area and public parking.
QuakerLane floated the potential of high- and low-rise residential and business, together with workplaces and a analysis and improvement lab, retail area and public parking.
RISE is seeking to embrace residential, hospitality, open area and public parking.
The metropolis employed actual property agency Cushman and Wakefield to help with the RFI and analysis of its responses.
The submitted idea designs will inform a future Request for Proposals, “as well as any additional planning that is necessary to act on the air rights,” the town mentioned.
Source: www.bostonherald.com”