The site of the former world headquarters of EMC Corp. in Hopkinton is now at a literal and figurative crossroads.
A developer has laid out a vision for the future of the former EMC headquarters in Hopkinton: a mixed-use project including a hotel, luxury apartments, retail space and possible renovation of the computer storage giant’s former offices.
For 13 years, the 160,000-square-foot building that once housed the technology giant has sat vacant within the 56-acre Elmwood Park along Interstate 495, after EMC moved its offices to another location in Hopkinton early last decade.
But now a developer, Crossroads Redevelopment Partners LLC, is proposing that 39 acres within the park, including the former EMC headquarters, be turned into a mixed-use development that would include an eight-story hotel, more than 300 luxury apartments, retail space and a possible refurbishment of the old EMC building.
To address traffic concerns, Crossroads Redevelopment has also agreed to build a new bypass road that would steer anticipated increased traffic away from existing neighborhoods and towards nearby I-495. The final price tag for the project could end up in the range of $200 million.
But it hasn’t been an easy process for Crossroads, headed by developer Steven Zieff and Hopkinton homebuilder Finley Perry.
First proposed two years ago, the Crossroads project has yet to receive necessary zoning changes that would allow more residential, retail and dense development. Developers hoped to win final approvals this past fall, but were forced to wait until this spring’s town meeting as town committees pored over and tweaked the plans.
“I think it’s better to get a slow ‘yes’ than a fast ‘no’ on a project,” said Zieff, who was previously involved in the residential Legacy Farms development in Hopkinton. “You have to be respectful and listen to people’s ideas. It shouldn’t be a confrontational process.”
It’s not that Hopkinton is up in arms over the proposal. The town has long viewed portions of Elmwood Park, particularly the old EMC building, as being underutilized. Much of the property today is parking lots.
“The redevelopment of that area has been a goal of the town for a while now,” said Elaine Lazarus, director of land-use planning and permitting in Hopkinton. She said the town wants to make sure the redevelopment has been thoroughly vetted before any proposal heads to a town meeting vote.
The board of selectmen has already expressed support for Crossroads, as has the town’s Design Review Board, she said. Developers are now working with the town’s zoning advisory committee to clear up final obstacles.
Addressing Residents’ Concerns
During the zoning approval process, three key components have concerned some town residents: traffic, the height of the hotel and the type of residential units within the development.
Crossroads Redevelopment’s compromise to build a new bypass road seems to have alleviated many concerns about increased traffic. The site is bounded by I-495, Route 135 and West Main Street in Hopkinton. “It’s really in a triangle of those three (roadways),” Zieff said of development site.
Originally, Crossroads pushed for a 10-story hotel, but has since reduced that height to eight stories amidst objections. Even at eight stories, some town officials and residents have expressed concern about the hotel’s height.
As for the proposed 375 apartment units, there are worries that the residential component could add to the number of school children in the town, further burdening the school system. Zieff indicated he’s willing to restrict the number of bedrooms within individual units.
Currently, Elmwood Park is roughly divided into three sections: One portion owned by PerkinElmer Inc., which has a large health-care unit in Hopkinton; a group of single-story “flex” commercial buildings owned by Perry; and land owned by a unit of Deutsche Bank.
Crossroads Redevelopment has an agreement to purchase Deutsche Bank’s property, pending final zoning approvals, and it later hopes to combine it with Perry’s “flex” properties for the new mixed-use project. Of the combined 39 acres, under 20 would be developed, Zieff said.
The future of the old EMC building is still up in the air. Though vacant for 13 years, it’s in surprisingly good condition, Zieff indicated. Still, developers haven’t decided whether to possibly retrofit it for future occupancy.
“We’re not quite sure how that could turn out,” said Zieff.
If town meeting voters approve the project this spring, Zieff said construction on the new bypass road could start in late 2015. Construction of buildings wouldn’t start until 2016.
Lazarus said there’s no guarantee town voters will give thumbs up to a final plan, but she said many town officials generally have a favorable view toward Crossroads’ revised proposal.
Zieff said he’s optimistic the project will one day get built.
“When you put all these things together, it’s going to be a success,” he said.
