Construction Underway For Massive Medford Apartment Complex

MEDFORD, MA — Construction began recently on a three-acre, mixed-use development at 4000 Mystic Valley Parkway.

Modera Mystic is slated to have 350 units of either one, two or three bedroom units. The property will also include a 2,000 square-foot ground floor that will reportedly be used for both commercial and retail purposes. According to developer Mill Creek Residential, scheduled amenities include a sky deck on the top floor, swimming pool, diverse dining areas, a fitness center, a yoga studio, game room, and pet spa. The location was previously occupied by a Gold’s Gym and CKS Furniture.

The development is a 40B zoning affordable housing project, in that some normal permitting procedures were legally bypassed in exchange for a minimum of 20 percent of the units be designated as affordable for people with low to moderate incomes. The affordability is defined by being attainable to households whose total financial resources is not higher than 80 percent of the area median income. 88 of Modera Mystic’s 350 units are scheduled to be classified as affordable.

Modera Mystic is designed as two eight-story buildings. The project’s original design was supposed to be one building containing 350 units but was later modified. Mayor Breanna Lungo-Koehn and the City Council recently reached an agreement on a Zoning Updates Project for Medford, which included reclassification of some areas in the city from MX-2 to MX-1. Areas zoned as MX-2 allow buildings up to four stories by right or up to six with incentivized zoning, whereas MX-1 limits construction to three.

Overall, the project is estimated to cost more than $118 million between a $98 million bank loan Mill Creek acquired in October and the $20.5 million it paid to acquire the land.

The complex is expected to be ready for move-ins by fall 2027.

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