Medford Chooses Developer To Carry Out Large-Scale Project

MEDFORD, MA — The city has chosen Transom Real Estate to be the developer of a large-scale project downtown along Clippership Drive and Riverside Avenue.

The project involves transforming three unused city-owned lots into a mixture of retail and residential space. Transom’s proposal features the creation of 283 housing units and a 13,500 square foot grocery store. Of the 283 residential units, 56 are slated to be affordable. Mayor Breanna Lungo-Koehn said that Transom’s vision for the space most aligned with that of Medford leadership.

“I’m confident that the Mayor, Council, our City staff team, and Transom can work together to prioritize housing production, affordable housing, economic development needs, new open space, riverfront activation, improvements to public buildings, and making streets and sidewalks in the area safer and more accessible for all Medford residents and visitors to Medford Square,” City Council President Zac Bears said.

Transom estimates the annual tax revenue of the properties to be approximately $1,150,000. In addition, it projects the creation of 325 construction jobs while it is being put together and more than 100 permanent jobs after it is established. The project will also create ample project for the Medford Senior Center and Chevalier Theatre.

“The site offers a unique opportunity to reimagine a central artery of the City of Medford that today exists only as surface parking,” Transom staff said in a statement.