The long-stalled North Point development is asking for more freedom to build its tall buildings close together. The developers have petitioned the city to adjust the areas with various height restrictions and ease up the space required between two buildings, as well as changes to parking requirements.

We can also add more open space and create a brand new retail plaza, said developer Tom OBrien, making his case to the City Council, which along with the Planning Board has a say in rezoning. So far, the council seems eager to accommodate development of the land between Lechmere and Charlestown.

Im glad to see its going to be developed. It did sit as a, I dont want to say distressed area for a very long amount of time, said Councilor Denise Simmons. They have made a commitment to continue to meet with the community.

The project to develop old Boston & Maine Railroad land into condos, commercial, lab and retail space has been in the works for about a decade and is partially complete. Work came to a halt, however, as the developer and the railroad became locked in lawsuits and the developer went bankrupt.

When a developer owned in part by former Los Angeles Lakers star Magic Johnson bought into the project about two years ago, a previous agreement for the developer to rebuild Lechmere Station was scrapped.

In a brief interview, OBrien, whose The HYM Investment Group represents Canjon-Johnson Urban Funds, said that the deal between the MBTA and the developer was rewritten as the scope of the MBTAs plans for Lechmere changed to include a potential Green Line Extension.

OBrien denied the widespread claim that a station rebuild was too expensive for the developer. He said the right-of-way the railroad is providing to the Green Line plus about $15 million is lucrative.

The previous developer had agreed to build that station in exchange for the property where the current station is located, said OBrien. The needs of the MBTA changed The T and we agreed on a different swap.

OBrien told the council the 45 acre property is permitted for 5.2 million square feet of mixed-use development. The amendments would allow for 150-foot to 200-foot developments along the Gilmore Bridge to Charlestown, according to a letter accompanying the changes.

Its been a project that has languished for a number of years here in Cambridge, said OBrien. He said he wanted residential construction to start later this year.

Read more:
North Point seeks changes to zoning for stalled development

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April 29, 2012 at 1:18 am by Mr HomeBuilder
Category: Retail Space Construction