99 Revere Beach Parkway/Image courtesy of Bargmann Hendrie + Archetype

Two commercial properties near Wellington Circle in Medford will be redeveloped as 524 apartments following the city’s MBTA Communities rezoning.

Criterion Development Partners acquired the former KISS-108 radio station studios at 99 Revere Beach Parkway for $8 million on Jan. 2 after receiving approval for a 276-unit apartment complex in December.

The parcel at 99 Revere Beach Parkway is located next to the Orange Line’s Wellington station within Medford’s MBTA Communities district.

The seller was audio conglomerate iHeartMedia.

Criterion submitted plans last year to redevelop the 4.5-acre site as a 276-unit apartment complex. The Medford property will include a 234-space parking garage located in a single-story podium,  amenity courtyard with pool, a “lounge/cafe” connected to a “bar/game room,” a gym, a “library/reading” room, a coworking area and a single, 1,900-square-foot retail space, according to application documents filed with the Medford Community Development Board.

The project’s residential units will include 158 one-bedrooms and “junior one-bedrooms,” plus 46 two-bedrooms, 24 three-bedrooms, 22 one-bedrooms with dens and 26 studios across five stories.

A second MBTA Communities-catalyzed development also received site plan approval from the board in December.

Boston-based Transom Real Estate Partners plans to redevelop the Kappy’s Fine Wine & Spirits property with a 7-story, 248-unit apartment complex, including a 2-story parking podium containing 247 interior spaces.

10 Revere Beach Parkway/Image courtesy of Embarc