The Lahey Clinic currently occupies 25,000 sf of the 170,000-sf hospital building. The project will entail the demolition of the main hospital building as well as the 24,000-sf former nurses' residents, which is currently vacant. The agreement also involves a profit sharing component in which the town will be able to share profits of the project once the partnership's profits exceed 21%.
Kevin O'Brien, director of the town's planning and community development department, tells GlobeSt.com that the developers still need a special permit from the Arlington Redevelopment Board before they can start the project.
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