A Private Commuter Rail Stop For 1,260-Unit Development?
Banker & Tradesman | By Steve Adams
November 20, 2016
A proposed 1,260-unit housing development at the 65-acre former General Electric Gear Works property in Lynn would include residents-only access to a commuter rail platform two stops from Boston’s North Station.
Developer Lynnway Assoc. LLC is pitching a $512 million, 1.5-million-square-foot redevelopment including six residential buildings. Swampscott developer Charles Patsios acquired the property in 2014 for $7.6 million, three years after GE shut down the factory that had produced military vessel components since World War II.
The developers are negotiating with the MBTA to provide “controlled access” to the River Works stop on the MBTA commuter rail’s Rockport line, according to a draft environmental impact report recently filed with state regulators.
MBTA spokesman Joe Pesaturo confirmed that the plan is on the table.
“The state is open to options and would work collaboratively should any development proposals move forward which may lead to the ‘flag stop’ being considered for improvements,” Pesaturo said in an email.
Designs by Boston-based Elkus Manfredi Architects and VHB call for six residential buildings, 2,130 structured and surface parking spaces, a 43,310-square-foot resident-only sports club, band shell, volleyball courts and 16,000 square feet of retail space. The projected construction timeline is 2018 to 2022.