Copper Mill is pursuing a 40B residential project in Davis Square, pitching it as a project that will revitalize the area.
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The Boston-based developer filed plans for a 502-apartment tower along Elm Street in Somerville, Banker & Tradesman reported.
The project is within walking distance of the MBTA's Red Line and would be in the neighborhood's main retail center.
Plans include 126 affordable units required under the state's 40B affordable housing zoning law. Under the law, a local zoning board of appeals has the power to approve affordable housing developments using streamlined and flexible rules if that project sets aside at least 20% to 25% of units with long-term affordability restrictions.
The project would include a 13K SF ground-floor retail space for the existing retailers, including The Burren and Dragon Pizza. The developer has agreed to keep the rent for those businesses the same.
Copper Mill ground-leases the site from Myer Dana & Sons but can purchase it outright for $42M.
Business owners in Davis Square have seen a decline in recent years as local retailers shut down amid the pandemic. When Copper Mill floated plans for the project in 2024, some owners were cautiously optimistic that it would revitalize the area.
The project has received mixed reviews from residents and has even led to a war of anonymous fliers around the neighborhood backing both sides of the debate.
This is the latest iteration of plans for the space. London-based student housing developer Scape first proposed a 250-unit project there in 2019, then a lab building in 2022. Both projects fell through.
LEASES
Roche Genentech tripled the size of its lease at the Harvard Enterprise Research Campus from 30K SF to 100K SF. The company plans to begin moving into the campus later this year.
Roche Genentech first announced its plans to move into the 440K SF, two-building life sciences property at One Milestone in March.
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The Massachusetts Department of Public Health signed a 51K SF lease at 100 Cambridge St. in the West End of Boston. The state agency plans to vacate 112K SF at 250 Washington St. in Downtown Crossing.
The move came as the agency's current lease was up for renewal.
FINANCING
MassDevelopment issued a $2.5M tax-exempt bond on behalf of Baypath Humane Society of Hopkinton. The nonprofit will use the proceeds to build an 8K SF facility at 90 Fruit St. in Hopkinton. The nonprofit leases the town-owned parcel through 2027.
Construction began in September 2025 and is expected to be completed in the fall of 2026. Unibank purchased the tax-exempt bond.
CONSTRUCTION AND DEVELOPMENT
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Plaza Properties proposed a 270-apartment and 21K SF grocery store project along Route 9 in Shrewsbury on the site of a former Chelmsford Ginger Ale bottling plant, the Boston Business Journal reported.
The developer plans to demolish the 77K SF plant to make way for the project. The corporation bought the property in 2013 for $4M.
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Lexington officials approved a 290-unit multifamily development at 131 Hartwell Ave. New York-based JLB Partners won approval for the project, which marks the town's second-largest project under the MBTA Communities Law.
The project seeks to replace an old office building on the site with housing. Of the 290 units, 44 will be designated affordable.
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A 300-apartment project was proposed on the site of the former Weylu's Chinese restaurant on Route 1, the BBJ reported. The project would consist of four buildings and a residential amenity center. The project would be developed through the state's 40B affordable housing zoning law.
Developer Republic Real Estate Advisors acquired the property in 2013 for $4M.
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