(For more retail coverage, click GlobeSt.com/RETAIL and to read more on the multifamily market, click here.)
SOMERVILLE, MA-A judge's ruling that the Massachusetts Department of Environmental Protection erred in issuing Ikea a license to build a store on a 16.6 acre parcel along the Mystic River may not affect the project. The lynchpin is that Ikea needs to work out details of a land swap with another developer.
The ruling last week by Administrative Magistrate Natalie Monroe was the result of a lawsuit filed by opponents of the project who want a mixed-use project developed on the site as part of a master plan for the Assembly Square area. Ikea spokesman Joseph Roth said the firm is reviewing the court's decision.
The ruling may not affect the proposed store if the Swedish home furnishing chain can finalize a land swap with Federal Realty Investment Trust to move Ikea's proposed store away from the river to an 11-acre site behind a Home Depot. The Somerville store will be the second Ikea store built in the Bay State. Ikea already has a store in Stoughton. Federal Realty plans to build more than 2,600 residential units, a hotel and office space on the Ikea site if the land swap is approved.
Boston is not the only state IKEA is making news. In Cincinnati IKEA revealed plans to enter the Ohio market with a 339,000-sf store and in Florida, the Orlando City Council approved IKEA's plan to build 310,000-sf store.
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