3.4 ACRE TRANSIT-ORIENTED DEVELOPMENT OPPORTUNITY

On behalf of the Town of Andover McCall & Almy is pleased to present the opportunity to acquire a transit-oriented development site in the heart of Downtown Andover.

 

Click the links below for exclusive documents related to Town Yard Development.

 

 

SITE DESCRIPTION

The former Andover Town Yard is a 3.4-acre site comprising 6 parcels in Downtown Andover, located adjacent to the MBTA Commuter Rail and at the intersection of Main Street, the Shawsheen River and the Historic Mill District. Historically used to support municipal functions, the Town has conducted an extensive public process to establish the parameters for the revitalization and transformation of these industrial lots into a vibrant and lively neighborhood that supports community needs and activates the site. The Town of Andover’s public process culminated in the approval of an extensive zoning overlay district for approximately 100 acres of land, known as the Historic Mill District, in which the Site is located.


The Site sits in the center of the Historic Mill District zoning overlay and is seen by the Town as a vital anchor in the broader initiative to create a new live-work-play destination. The purpose of the overlay district is to encourage smart growth and to foster a range of potential development opportunities, with a focus on mixed-use including residential, retail, and office components. The community has been heavily involved in the planning process and has shown immense support for and excitement about this initiative.

 

TOWN OBJECTIVES

The Town has two primary objectives for the project: (i) selecting a qualified developer that can successfully implement a work-live-play development connecting the Historical Mill District with Main Street of Downtown Andover and spur additional development in the overlay district; and, (ii) asset monetization.


The Town has taken significant steps over the past several years to ensure the successful disposition of the site. The Town is soliciting Development Proposals as part of a two-phase process comprising an Initial Proposal and Final Proposal, as further detailed in the RFP. The RFP and supporting documents available to facilitate developer review of the opportunity are available for download through the link above.

 

RFP PROCESS

The Town’s extensive planning effort, now resulting in the opportunity for private acquisition of the Town Yard site, has produced a collection of materials describing the opportunity which are available for review as part of this RFP process. The Town of Andover will assume that respondents have thoroughly reviewed and are familiar with the existing body of planning-related documents. In light of the extensive community support for the redevelopment, the Town expects to move through the developer selection process on an efficient timeline and anticipates selecting a winning bidder by Q3 2021.

  • Initial Proposals Due: April 22, 2021

  • Selection Committee to invite select developers to submit Final Proposals: Late May 2021

  • Final Proposals Due: July 22, 2021

  • Selection Committee to recommend developer: Q3 2021

JULIE GRAY

Executive Vice President
+1 617.896.0805

LAUREN DONAHUE

Senior Vice President
+1 617.714.9714

KATI BRIGHAM

Vice President
+1 617.303.0157

DANIELLE DONOVAN

Associate
+1 978.866.0855
Town Yard Development Opportunity _ Zoomed out Aerial _ updated 3.17.2021

INVESTMENT HIGHLIGHTS

prime_location

Prime Location

Situated in the heart of Downtown Andover with amenities, retail shops, and restaurants within walking distance.

exceptional_access

Exceptional Access

Located along Route 28, less than 2 miles south of l-495 and less than 4 miles east of l-93, providing direct and easy access to key neighboring communities. Just 20 miles outside of downtown Boston and adjacent to the MBTA Commuter Rail with direct service to North Station, making it a commuter's dream.

excellent_market

Excellent Market Dynamics

There is a growing shift to the suburbs as the pandemic’s long-term impacts on workplace strategy continue to unfold. Andover is perfectly positioned to attract residents looking for the space and convenience of suburban life and tenants looking to open satellite offices closer to their workforce.

favorable_zoning

Favorable Zoning

Located in the newly rezoned Historic Mill District which supports multiple redevelopment mixes including residential, office, retail, and mixed use.

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Bigger Picture

Opportunity to be the vital anchor for the nearly 100-acres of land included within the new Historic Mill District overlay.

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