"We're excited about getting started," Madison Properties president Denis Dowdle tells GlobeSt.com, an understandable reaction after nearly three years of site work, neighborhood meetings and permitting machinations have finally paid off for the Boston-based real estate firm. The first phase will entail construction of a Wal-Mart Supercenter, followed by a 57,000-sf addition of smaller retail and restaurant options. The final phase will produce another 80,000 sf of retail space.

Madison's signature project is a 502-room hotel in Boston's Seaport District that itself just gained city approvals, but Dowdle counts himself more as a retail specialist. The 43-acre Worcester parcel, he explains, was appealing due to a mix of market demographics, limited supply and $170 million in roadway improvements done along Route 146 in the past decade, changes which Dowdle says have made a major difference.

"That is really going to open Worcester up to the rest of the world for the first time in many years," he says, estimating at least 15 minutes has been shaved off for travelers coming from the east. As a result of the better access, many new development opportunities are emerging.