A new development will bring nearly 500 apartments to Medford
Big new mixed-use developments are already commonplace in Boston, but now it is Medford’s turn.
The city of Medford has approved the demolition of two existing buildings, a Shaw’s grocery store and an Eastern Bank, at 61 Locust Street to make way for developer Equity One to build a mixed-use complex. The new development along the Mystic River will sit between Medford Square and Wellington Station and will include three buildings.
According to the decision from Medford’s Zoning Board of Appeals, the new development will have 3,000 square feet of ground-floor space for Eastern Bank, 12,000 square feet of ground-floor amenity space, and 4,000 square feet of ground-floor flex space. It will also include 490 apartment units, ranging from studios to three-bedroom spaces, along with 781 parking spaces.
The buildings will range in height from four to six stories and many of the units will have balconies. The proposal also noted that 10 percent of the units will be deemed affordable for moderate- and middle-income households.
The proposal reads: “By providing a more attractive retail location for Eastern Bank and introducing new ground floor uses, the Proposed Project will enhance the prevailing residential and commercial characteristics of the surrounding neighborhood, producing a more active and attractive pedestrian-oriented streetscape.”
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