Image courtesy of PCA
Transom Real Estate Partners is set to reveal details of the largest development in Medford Square in decades, adding hundreds of apartments to create a new “urban campus” near City Hall.
The Boston-based developer’s proposal was selected in May to ground-lease three city-owned parcels on Riverside and Clippership drives currently occupied by parking lots.
The Medford City Council on Tuesday is scheduled to hear a presentation by the project team as it begins its deliberations on a land disposition agreement.
The Transom proposal includes a pair of 7-story and 4-story apartment buildings, a 13,500 square-foot grocery store and 2,500 square-foot cafe. A 4-story parking garage containing 273 spaces would be built on the easternmost parcel next to Interstate 93. The two apartment buildings would be located just south of City Hall, on two parcels that straddle Riverside Drive.
Transom offered annual gross lease payments starting at $120,000 per year. The project would include a 20 percent income-restricted component, reserved for households earning 80 percent of area median income.
Public realm improvements include new landscaping and bus shelters and a raised intersection of Riverside Avenue and Clippership Drive.
Members of the project team include architect PCA, landscape architect MDLA, permitting counsel Nutter and retail leasing agent District Real Estate Advisors. Placemaking partner Beyond Walls will coordinate public murals and art programs.
The developers seek to finalize their land development agreement with the city in early 2026, and begin construction in the second half of 2027, according to a presentation submitted to the Medford City Council.
Transom also is proposing to redevelop the Kappy’s Fine Wines & Spirits and Munro Service and Tire Center at 10 and 20 Revere Beach Parkway, located within Medford’s MBTA Communities zoning district surrounding Wellington Circle, with a 248-unit apartment complex.
More multifamily development opportunities could emerge as the newly-elected Medford City Council renews its discussions of a citywide rezoning proposal.
The process was paused last summer amid a dispute with Mayor Breanna Lungo-Koehn. Lungo-Koehn rejected a request from Council President Zac Bears for additional funding to extend the contract of Newburyport-based land use consultants Innes Associates, which has been leading the rezoning proposals.
In a recent letter to councilors, Lungo-Koehn offered to approve funding for the consultants if the council rolled back the rezoning of the Salem Street corridor between Medford Square and Fellsway West.
Members of the Our Revolution-endorsed slate which supports increasing housing density had a strong showing in the Nov. 4 election, maintaining six of seven seats on the City Council.
Image courtesy of PCA
