MARLBOROUGH – While construction is under way at the former McGee Farm at 339 Boston Post Road, the city has created a new account for mitigation funds generated by the project.
Procopio Companies purchased the site from Heritage Farm LLC in May. On this 27.3-acre site, Procopio, in partnership with Ridge Real Estate Partners, will build Vesa, featuring 140 upscale apartments, a lobby and resident lounge, a fitness center, an outdoor pool deck, a dog park and other resident amenities.
The property will comprise 60 one-bedroom, 62 two-bedroom and 18 three-bedroom apartments.
According to David Roache, vice president of development for Procopio, the project is currently under construction, and will be completed next fall.
During its meeting on Monday, Nov. 4, the City Council approved a transfer request for $240,000 from free cash to the McGee Farm Mitigation Stabilization Account.
The funds came from the property owner, 339 Boston Post Road Owner LLC. These funds — totaling $275,000 — were deposited into the city’s general fund on June 28. The City Council has already approved $35,000 to install an inline sewage grinder at the Boston Road pump station.
The breakdown of the remaining mitigation funds will be as follows:
- $200,000 for the “study, design and construction of a traffic signal at the intersection of Route 20, Village Drive and the site’s main entrance.”
- $20,000 for “to study and/ or fund shared transportation options.”
- $20,000 for “study and/or fund a recreational trail for pedestrians along the city-owned sewer land adjacent to the site.”
Procopio is also developing 57 Main St., the former site of Rowe Funeral Home.
