Image courtesy of Cube 3 Studio

The longtime owner of a Framingham shopping center is proposing to redevelop the Route 135 property as a 280,000-square-foot apartment complex.

Kimco Realty proposes demolition of the 26,500-square-foot Waverly Plaza to make way for a 224-unit apartment complex, which would include 10,000 square feet of ground-floor retail. Kimbo proposes an 11 percent income-restricted component for the apartments.

The project received a use variance from the Zoning Board of Appeals on Feb. 8, according to application materials submitted to the Framingham Planning Board. Developers propose 375 parking spaces, including 85 percent in an underground garage.

The 3.5-acre property at 208 Waverley St. currently includes a strip mall occupied by Dollar General, an auto parts store and small grocer. Jericho, New York-based Kimco Realty said it anticipates a summer 2024 groundbreaking followed by 24-month construction period.

A moratorium on multifamily development in Framingham expired in July 2022. The City Council halted review of projects in 2020, in response to a resident petition citing traffic congestion and overbuilding in the downtown area.