January17, 2014
By Thor Jourgensen/The Daily Item

A Malden man wants to convert a former Market Street restaurant’s upper floors into apartments, following a formula that has already filled former downtown loft and commercial buildings with residences.

Jian Guan filed a building permit with the city outlining his plan to convert the former Nandee’s restaurant’s second and third floors at 98 Market St. into apartments. Guan’s son, Benny, said plans call for converting each floor into four apartments with up to three bedrooms.

Guan said his family owns a Revere building and his father likes Market Street’s central location.

“We want to help out those who have a need and the property is fairly inexpensive,” Guan said.

A discount store occupies the Nandee’s building’s ground floor at the corner of Market and Andrew Street. Guan’s plan to build residences above a ground-level downtown business fits into the city’s “vision” for the area, said Economic Development and Industrial Corporation Director James Cowdell.

“We want a combination of residents and businesses downtown,” Cowdell said.

Benny Guan said 98 Market’s location near downtown restaurants and stores makes its upper floors attractive for development. He said his father hopes to complete the apartment project over the next year.

Cowdell said space in downtown buildings have been converted into 250 residential units since 2003.

A study under way to determine how to improve downtown notes that city residential development guidelines established that year “resulted in several housing redevelopments in (D)owntown and helped to preserve historic buildings.”

But the Metropolitan Area Planning Council report reviewed Tuesday night by local residents, business people and elected officials points out the city can get “bonus payments” from the state for certain housing developments.

The report — available online at the MAPC’s website — also encourages multi-family housing development downtown. More people living downtown is a good idea, Guan said.

“We should make more residential buildings, the police will be around and it will be safer,” he added.