Developer Gears Up on the Lynnway


March 17, 2017
By Bill Brotherton/The Daily Item

The developer of the former General Electric Co. Gear Works property has provided a first glimpse into the $500 million redevelopment.

An artist’s rendering shows the sprawling new neighborhood that will feature eight buildings to be built on a 65-acre site off the Lynnway with a walkway to the River Works MBTA commuter rail station.  

When completed, the complex is expected to feature 1,260 apartments, boutique retail, restaurants, a gym and new roads within walking distance to bike trails, beaches and the T.

Pictured is an artist's rendering of a possible redevelopment off thel Lynnway


Pictured is an artist’s rending of a possible redevelopment off the Lynnway.

.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

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