Benefits to the Town of Lynnfield
Meadow Walk at Lynnfield will provide a number of benefits to the Town of Lynnfield and its residents, including:
- Realization of goals outlined under the Town’s Master Plan which call for a "mixed-use" project on the site.
- Creation of a new, high-end, pedestrian-friendly village that reflects the history and heritage of Lynnfield.
- Generation of substantial net revenues for the Town’s schools, parks, public safety, elderly services and other needs. The Town has estimated substantial one-time payments and annual net revenue to the Town.
- Diversification of the Town’s tax base through the addition of new commercial taxes and fees, which will help reduce the burden of residential property taxes.
- Development of attractive housing options for young professionals, empty-nesters, elderly and first-time home buyers (including children of Lynnfield residents looking to enter the housing market). Local residents would receive preference for housing to the extent allowed by law.
- Provision of 25% of new rental housing as affordable housing (including municipal employees and the elderly) that will help Lynnfield proactively manage its affordable housing obligations under state law.
- Creation of a permanent open space deed restriction on about 103 acres of preserved green and wooded space that will be donated to the Town.
- A new 3500 square foot cultural space at Meadow Walk for use by Town organizations.
- Space to develop 40 new units by Lynnfield Initiative for Elders (LIFE) for Lynnfield residents 60 and older.
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Call us at 617.559.5026 or submit your question or comment by clicking here
Call us at 617.559.5026 or submit your question or comment by clicking here
