Members of the Mystic Valley Development Commission (MVDC) recently toured the new residential development at 150 River's Edge Drive being developed by Preotle, Lane & Associates Ltd. (PLA) and Criterion Development Partners. The building includes 282 apartments, of which 14 will be affordable,18,500 square feet of restaurant/retail space and 1,025 spaces of structured parking. The apartments are currently being leased. Please call 781-350-3333 for more information.
PLA is completing architectural plans for a second 115,750 square foot office/lab building on which it hopes to begin construction in Summer/Fall of 2017.
The existing state-of-the-art Gold LEED certified 115,000 square foot office/lab building at 200 River’s Edge Drive is 92% leased. Tenants include Management Sciences for Health, Marriott International, Financial Recovery Technologies, Physicians Professional Services and Labthink.
The Malden Redevelopment Authority continues to serve as Project Manager for the River’s Edge Project, a 215-acre public/private regional development in Malden, Medford and Everett. Designed in the spirit of “Smart Growth”, guided by the MVDC and developed by PLA. The Cities of Malden, Medford and Everett share tax revenues based on a formula in the enabling legislation that created the MVDC. River’s Edge is being developed in three phases.