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Normandy Real Estate Partners has cleared two major hurdles as it transforms the 27-acre General Dynamics Mission Systems property in Needham with a 390-unit apartment complex and a new headquarters for appliance maker SharkNinja.
The complex located alongside Route 128 next to the new TripAdvisor headquarters would contain up to 423,000 square feet of office space, a 128-room hotel and the apartment complex
The Needham Zoning Board of Appeals last week approved a special permit for a 390-unit apartment complex, which would be built at the corner of A Street and 2nd Avenue under the state’s Chapter 40B affordable housing law. Needham selectmen have supported the project as a “friendly 40B” that will help them meet the state’s 10 percent goal for affordable housing stock.
SharkNinja, previously known as Euro-Pro, will relocate from 180 Wells Ave. in Newton after leasing 150,000 square feet at Needham Crossing. The Needham planning board approved a special permit for the project Nov. 10 and filed its decision with the town clerk last Wednesday.
The special permit calls for the following projects:
- Redevelopment of the 263,653-square-foot building at 77 A St. into 260,429 square feet of office and R&D space.
- Redevelopment of the 171,004-square-foot building at 189 B St. into 160,000 square feet of office and R&D space.
- Demolition of the 80,335-square-foot building at 156 B St. and replacement with a 91,000-square-foot hotel with 12,500 square feet of common area amenities and 19,000 square feet of retail space.
The 40B project would be built on a newly-created 5-acre parcel at the northern edge of the property.
SharkNinja has $1.6 billion in annual revenues from sales of appliances including its Shark vacuums and Ninja kitchen accessories.
Normandy Real Estate Partners acquired the property last year for $54.5 million with plans for a major repositioning project as tenant General Dynamics prepares to depart for 100 Rustcraft Road in Dedham. General Dynamics leased 131,000 square feet last January. The Davis Cos. is redeveloping the east end of that 493,000-square-foot complex into a single-story office and R&D structure.
The Needham Crossing project bolsters efforts by the N2 Innovation Corridor, a public-private initiative designed to reinvigorate economic development in a 500-acre section of Needham and Newton along Route 128. The group is using $100,000 from member donations and a U.S. Economic Development Administration grant to pay for a year-long competitiveness study and marketing plan being developed by Camoin Assoc. of Saratoga Springs, New York.
