Developer Gears Up on the Lynnway |
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.Charles Patsios paid $7.6 million in 2014 to purchase the parcel from GE. His team has been working to win approval from the Conservation Commission, the city’s Inspectional Services Department and the state to build the project on the Saugus River. The Swampscott developer said his team has reached an agreement with the Massachusetts Department of Transportation (MassDOT) to expand the use of the nearby T stop at the GE plant on Western Avenue. Today, the train only stops at the factory on the Newburyport/Rockport Line for employees. But under an agreement in the works with the state, the station would be expanded for all commuters, including the new residents at the Patsios project. Jacquelyn Goddard, a MassDOT spokeswoman, did not respond to questions about a potential deal with Patsios. A source familiar with the negotiations said the state will not commit to extending access to other passengers until the project is built. Once the permitting is completed later this year, Patsios said he will seek financing for the waterfront development. “We’re getting there,” he said. Thomas Grillo can be reached at tgrillo@itemlive.com. |
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