*Updated Below*
It appears that the developer, Walderi Lima, has reconsidered plans to build a four-story mixed-use building at 25 Haven Street, the former Rite Aid. The 18,933 square foot lot was before CPDC back in June with plans on building 25 residential units and 2 retail spaces with garage parking. The property is now back for sale at $3,000,000 but is assessed for only $2,081,400.
https://www.loopnet.com/Listing/25-Haven-St-Reading-MA/27047068/
One area to consider: because the plans were submitted prior to the change to the smart growth district bylaws (April Town meeting reduced the density to 50 units per acre), this building would be grandfathered in to the more builder-friendly conditions. With it back on the market and the new bylaws on the books, it would be considerably less desirable then it was previously, as the original plans were for 58.1 units per acre.
On tonight’s CPDC agenda for 8:30PM is a continuation of the Public Hearing, 40R Plan Review, for 25 Haven Street. Perhaps tonight will outline the future plans for the property.
*Updated 9:30PM. The units were reduced from 25 to 12, with 0 Affordable. That puts them at 27 units per acre, well under the original 58.1 ratio. CPDC also clarified that on the sale of the building, the approval would carry to the new owners but they would be held to the 2 year build permit. The formal vote will be continued to December 12th.
