NORTH ANDOVER, MA-Ross Hamlin wants to build a retail center on property he bought from the Lawrence Eagle Tribune. The New Hampshire-based developer has proposed building an 80,000-sf complex on a 13.5-acre parcel on Turnpike Street, which is also Route 114. The site was zoned for high density residential use, but in an overwhelming town meeting vote of 246 to 15 the town voted to rezone the site for commercial use.
“The residents supported it,” says Debbie Wilson, who works for the town's planning department. She tells GlobeSt.com that the proposal is now before the board and will have its last public hearing next week.
Hamlin tells GlobeSt.com that the project, with estimated total development costs of approximately $15 million, will be designed as a lifestyle center with three separate buildings and 450 parking spaces. He says it will be similar to Brookside Shops, a 74,000-sf strip mall Hamlin developed on Great Road in Acton, MA. In that center the anchor tenants are Talbot's, Trader Joe's, Ann Taylor Loft, Staples and EMS.
Hamlin notes that this center will consist of all retail tenants and emphasizes that there has been interest from retailers, but he declined to reveal any specific names. He adds that the location, on Route 114, is appropriate for this type of development. Hamlin expects construction to begin in the spring.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.