The next featured TOD (Transit Oriented Development) is a parcel of land situated near the Shaws overpass over the Mass Pike in Newton. Currently, Newton has completed their RFP and is now in the process of reviewing multiple proposals from developers on the site. The site is currently a parking lot and, based on one of the proposals from B’Nai B’Rith Housing, could be turned into a vibrant new neighborhood in Newton complete with 79 condo’s (not rentals) with 30% of those categorized as affordable units. The site would also include nearly 7,000 sq ft of ground level retail space that, coupled with a large open courtyard that could provide a great quality of life for residents as well as visitors from across the community to patron the new stores and restaurants that would open here.
Making this development even more attractive is that it is a 16 minute Commuter Rail ride to Back Bay Station and the heart of Boston’s shopping, dining, entertainment and business districts.
The proposal detailed above is only one of six proposals the city has to chose from. One of the other proposals comes from New Atlantic Development involving a similar mix of residential and retail space but their apartments would be rentals not condos. Another proposal is from Austin Street Partners which includes the developers from OakTree, creators of GreenStaxx modular building.
The city hopes to select a developer by March of 2014 with most of the zoning and special permitting review out of the way by late August of 2014. This is, of course, another in a long line of exciting TOD projects adapting to the new lifestyles the empty nesting baby boomer generation and young professionals have expressed interest in.
Best of luck to all in their bids on the project. I’ll keep you updated as events warrant.
Starting a dialogue on the future of urban living in Boston and beyond.