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Developer Eyes Industrial Site for 318-Unit Apartment Complex

DRACUT, MA-First Development Co. wants to develop a 47-acre parcel on Broadway Road into a 318-unit residential complex. The developer plans to file under the state's Chapter 40B affordable-housing law, but the town's housing productivity plan gives it leverage in dealing with 40B projects.

By Naomi Grossman | Updated on August 23, 2004

DRACUT, MA-First Development Co. is hoping it can develop a 47-acre parcel on Broadway Road into a 318-unit residential complex. The developer has not officially filed its plans with the town, but Glen Edwards, Dracut’s town planner tells GlobeSt.com that First Development has indicated that it intends to do just that.

Edwards says that the company plans to file the proposal under the state’s Chapter 40B affordable housing law. The law enables developers to bypass local zoning laws if its project has at least 25% affordable housing and the town does not have 10% of its housing affordable. The Broadway parcel is currently industrially zoned and would need rezoning approval before First Development can build.

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