The former site of the Boston Rubber Shoe Co. facility in Melrose will soon be transformed into Alta Stone Place, a 212-unit renovated mill and podium-style project developed by Wood Partners.

The project involves the renovation of the existing brick and wood-beam mill building, as well as new construction.

"The historical significance of the mill building is important to the area population as many of their family members were employed at the factory," said Richard Dickason, Wood Partners’ managing director of the Northeast region. "It’s imperative we save significant buildings in this area and it’s a thrill for me to take part in the renovation of a project with such beautiful architecture, rich history and a promising future."

The mill’s landmark 100-year-old, eight-story brick smokestack will be the centerpiece of a new resident landscaped garden area. Many original features and style of the mill building will be retained and enhanced in the renovation, including copper gutters and downspouts.

The planning and approval process for the development stretched over more than four years with the previous developer. Wood Partners and their investor partner CBRE Investors became involved less than three months ago and had to complete research and due diligence resulting in a 90-day closing, according to a statement.

Construction will begin in June with the first units ready by next spring. The entire project is estimated to take 18 months to complete. Bargmann Hendrie + Archetype Inc. is the architect for the project. Allen & Major Assoc. is the civil engineer.