Economic Development & Industrial Corporation of Lynn

The Next Phase of Lynn Development: A $180M Undertaking

May 22, 2018
By Thomas Grillo/The Daily Item

The next phase of development in the city is valued at $180 million.

In a PowerPoint presentation to the City Council Tuesday night, James Cowdell, executive director of the Economic Development Industrial Corp., the city’s development bank, illustrated more than a dozen commercial projects from the former Beacon Chevrolet site with 344 apartments to the first luxury high rise apartment building in the downtown in decades, that are set to break ground this fall.

Among the new developments in the planning stages are: 40-48 Central Square that will offer 70 market rate units; the second year of Beyond Walls and its artistry; work on the other side of Federal Street, opposite the new Market Basket is coming; and Gateway Residences on Washington is nearing completion with 69 one- two- and three-bedroom units.

among the list of projects, the panel also approved $5.8 million for renovations to the Hood Elementary School on Oakwood Avenue.
(File Photo)

A public hearing was held to consider a proposal by Patrick McGrath, owner of the Lynnway Mart Indoor Mall & Flea Market, to replace a dilapidated garage and a home at 693 Western Avenue with a four-story building with 43 condominiums.

“This property has been a problem for many years,” said City Councilor Peter Capano. “This project will be a huge improvement to the area.”

The project was approved unanimously.

The panel also approved $5.8 million for renovations to the Hood Elementary School on Oakwood Avenue. Improvements include a new roof, windows and doors.

Up to 80 percent of the cost of the project could be reimbursed by the Massachusetts School Building Authority, the state agency that funds capital costs to build and renovate schools.

The council also gave the green light to a resolution by Dulce Gonzalez, a 21-year-old volunteer for the Global Embassy of Activists for Peace, to proclaim Mother Earth is a living being who deserves to be protected.

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