Karen Nelson, director of planning and human resources for Danvers, tells GlobeSt.com that Avalon has agreed to abide by the land disposition agreement put in place with Archstone that involves 77 acres off Route 1 on Route 62. Nelson says that the town plans to hold a number of public forums on the plan but if all goes well, the developer should have all its permits by this fall.
The hospital closed down in the 1980s. Legislation was adopted in the 1994 that paved the way for the rezoning of the property. As part of Avalon's plan, the 100,000-sf Karkbride Building currently located on the property will be preserved at a cost of $64 million. The building will house the leasing office, a community center and some rental units. As part of the second phase of the project, 100,000 sf of commercial office space will be built on land close to Route 62.
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