An October 2017 Boston City Properties article described Combined Properties' plans for a Medford mixed-use project with approximately 500 homes and 53,000 square feet of retail and restaurant space. The report centered on the firm's bid for state-owned land at 300 Mystic Avenue.
The 300 Mystic Avenue parcel
The article said the Massachusetts Department of Transportation had selected Malden-based Combined Properties as the winning bidder for its sign-shop site. It described a $6 million bid for the 1.67-acre parcel and anticipated incorporating adjacent properties into the development if approved.
The report also named 206–210, 278, 282 and 322 Mystic Avenue as locations the firm reportedly controlled. Another printed address range ran backward, from 312 to 236; that unresolved source error is not treated as a reliable property identification here.
The state's Open for Business initiative
The source linked the transaction to Governor Charlie Baker's Open for Business initiative, started in 2015 to encourage redevelopment of publicly owned transportation land. It described roughly twelve parcels leased or sold through the initiative by that point.
For the initiative as a whole, the article cited expectations of more than 2,000 housing units, at least 400,000 square feet of commercial space, about 600 jobs and more than $12 million in taxes. These were projections for a wider program, not the delivered results of the Medford project.
Jobs and tax projections for the project
The Medford proposal was described as supporting more than 1,600 construction jobs and 150 permanent jobs. The article projected more than $6.8 million in property and sales taxes during construction and an additional $1.3 million in annual fees and taxes for Medford. Those projections have not been verified as realized outcomes.
The article attributed support for making better use of the state property to then-Transportation Secretary Stephanie Pollack. It presented the sale as a step toward local transportation and development objectives rather than reporting a completed building.
Zoning and the Mystic Avenue corridor study
The report discussed possible mixed-use zoning and negotiations with the Metropolitan Area Planning Council over a Mystic Avenue corridor study. It said Mayor Stephanie Burke regarded rezoning as still requiring city council approval and placed the anticipated study cost at about $40,000.
The proposed study would examine existing land uses and potential zoning changes, with goals including jobs and better walking and bicycle access. This archive does not establish which recommendations were adopted or what is permitted on a particular parcel today.
Discuss a Medford property search
Tell Amo Realty's Boston City Properties team whether you need a rental home, a property to buy or commercial space. Include the location, budget and timing you have in mind. Do not treat the original proposal's 500 homes as an available inventory.