Downtown Revitalization

Late in 2019 Quaker Lane Capital, a private development firm purchased 15-23 Pleasant Street, 11 Dartmouth Street and 17 Dartmouth Street, Malden for $11.85 million. This is further testament to the City’s growing popularity among private investors who believe in Malden’s proud future.  The firm is working to advance plans to renovate the 17 Pleasant Street property, once home to the old Granada Theatre, and to construct a commercial building on the rear parcel. 

Groundbreaking ceremonies were held in Fall 2019 for a new 80,000 square foot commercial building at 11 Charles Street, the site of the former Ryan Family Amusements. The property was purchased by Cantella & Co., Inc., a financial services firm, currently renting office space at 350 Main Street, Malden. The top floor of the four story building will house Cantella’s corporate office, the middle two floors will be available for lease and the first floor will be made available for restaurant and retail uses.

Construction Kicks off at $100M Malden Center Development
Boston Business Journal / Aug 6, 2019, 6:47am EDT

RENDERING COURTESY OF STANTEC

Dellbrook JKS has started construction at Exchange 200, a redevelopment of a former bank operations center a stone’s throw from the MBTA Orange Line Malden Center stop.
 

The Masonic Building at 138 Pleasant Street has been restored and converted into a mixed-use transit oriented development now known as Residences @ Malden Station 138. The developers worked closely on a restoration and permitting program with local officials and converted it into 69 market rate apartments and 6,500 square feet of ground floor commercial space.

Malden Redevelopment Authority Executive Director Deborah Burke joined Jefferson Apartment Group Vice President Sandi Silk on a webinar talking about the successful transformation of Malden Center through a public private partnership.

The webinar, sponsored by MassDevelopment, attracted the attention of 42 persons including area planners, planning consultants and other municipal officials.

THE FUTURE IS NOW   Malden Tests Office Market Growth   Will Multifamily Boom Lay Groundwork for Job Cluster?  
By Steve Adams | Banker & Tradesman Staff | Apr 1, 2018

An Assembly Row-style apartment and retail development is rising in Malden Center where an imposing government center complex had blocked the path into downtown.

Combined Properties Inc. is actively marketing its new office building at 295 Canal Street. The five-story building contains 67,000 square feet of which 55,000 square feet is leasable. There will be a small retail space on the ground floor.  The developer is eyeing a Spring 2018 construction completion date.

The market-rate apartment complex at 480 Main Street has been re-branded by its new owners. Now known as Halstead Malden, the property, purchased about a year ago by DSF Group of Waltham, includes some ground floor retail and many amenities including an outdoor pool and deck area. The new owners recently unveiled various improvements made to the lobby area including a game room with pool and ping pong tables and a skeeball machine, a seating area with a full size Scrabble gameboard mounted on the wall, and a business center.

Now a pile of rubble, the parcel at 200 Pleasant Street which formerly housed Malden City Hall and the Malden Police Station and the parcel at 184 Pleasant Street where a privately owned church once stood, are being re-tooled into a mixed-use development that will straddle both sides of a reopened Pleasant Street.

The Malden Government Center building, which literally made one end of Pleasant Street a dead-end, drew the ire of many over the years. Designed by renowned architect Doxiades Associates, the building was dedicated in 1976. Here are some facts about the complex:

Berkeley Investments (Berkeley) is working with the City of Malden and the Malden Redevelopment Authority on the repositioning of 200 Exchange Street, which has been rebranded as Exchange Two Hundred.  The building is in the heart of Malden Center, immediately across from the Malden Center MBTA stop.  Exchange Two Hundred will benefit from significant investment to upgrade all aspects of the building, providing the environs that creative economy tenants have come to expect in a dynamic workplace.