Image courtesy of CUBE 3
The Davis Companies accelerated its multifamily housing pipeline with redevelopment of an industrial site as 289 apartments and townhouse-style residences.
The Boston-based developer acquired the 3.5-acre property including a self-storage facility near Medford’s Wellington Circle in 2019 for $25 million.
The 970 Fellsway project was significantly delayed while the state Housing Appeals Committee reviewed the city of Medford’s contention that it had achieved safe harbor status under Chapter 40B, the state’s affordable housing law.
The Davis Companies began demolition on the Fellsway site this summer, and Gov. Maura Healey chose the construction site in September as the backdrop to announce proposed regulations to streamline state environmental review for housing projects.
The company’s suburban development pipeline also includes a proposal under Chapter 40B for 315 apartments at 455 Totten Pond Road in Waltham, replacing the former Home Suites Inn.
The Davis Companies also has approval for a large residential project on Boston’s Soldiers Field Road, which has yet to break ground. The project at 1234-1240 Soldiers Road includes 450 apartments, 93 condominiums and a 195-room hotel.
According to a Middlesex County Registry of Deeds filing, the Medford project received $86.9 million in construction financing from Eastern Bank and the New England Fund.
Known as The Clayborn, the project is a joint venture with an undisclosed institutional investment partner, The Davis Companies said.
After the HAC ruled in 2023 that Medford had improperly calculated the city’s percentage of affordable housing, The Davis Companies renewed its permitting for the Fellsway project.
Drawn-out HAC appeal timelines were spotlighted in a report this year as an impediment to housing production in Massachusetts.
Released in February, Gov. Maura Healey’s Unlocking Housing Production Commission final report recommended streamlining the Chapter 40B appeals process by adding expedited appeals pathways and adding to the HAC’s staff.
Chapter 40B remains a popular option for developers seeking to build on suburban sites zoned for single-family or commercial uses. In recent months, developers have submitted large-scale proposals for hundreds of apartments apiece in Brookline, Newton and Waltham.
The Fellsway project occupies a site that has a long industrial history, beginning with construction of the New England-Anderson Pressed Brick Works factory in 1886.
Topped by a roof deck with Boston skyline views, the project will include units ranging from studios to three-bedroom apartments and six townhouses, with 25 percent of the units designated as income-restricted.
Amenities include a swimming pool and fitness center, playground, movie lounge, pet spa, dog park, work-from-home pods and a makerspace workshop.
The Davis Companies agreed to upgrades to a nearby MBTA bus stop and installation of new traffic equipment, a Blue Bike station and roadway improvements in the surrounding neighborhood.
Project team members include general contractor Plumb House, architect CUBE 3, civil engineer Bohler, mechanical engineer WSP and structural engineer H+O.
The project is scheduled for completion in two phases in August and November 2027.
