New 400-Unit Development Proposed In Medford

MEDFORD, MA — A developer is proposing a 400-unit rental complex on Mystic Valley Parkway. MCRT Investments, LLC, an affiliate of Mill Creek Residential, submitted a Site Approval Application to the Massachusetts Housing Finance Agency earlier this month.

The application was filed under Chapter 40B, a statute that facilitates the construction of low- or moderate-income housing. The development, Modera Mystic, would be located at 4000 Mystic Valley Pkwy, the current site of Gold's Gym and other businesses.

MassHousing is still reviewing the application. A 30-day comment period began Aug. 7.