ANDOVER — The Town Yard is one step closer to seeing a 248,788-square-foot, mixed-use redevelopment.
The Planning Board unanimously approved the project at 11 Lewis St. on Thursday following lengthy discussions.
Louis Minicucci, president of Minco Development, the North Andover-based developer in charge of the project, estimated this could be an $80 million investment in private and public infrastructure when completed. He previously estimated the project would cost about $65 million.
Minicucci applied for a special permit to construct the large development, which would bring residential units, a cafe, retail and commercial space, affordable housing, and a community building to the former site of the Town Yard next to the rail station.
The property is in the middle of the Historic Mill District. It would bring 136 residential units with 15% affordable housing and a 2,160-square-foot community building for the town to use.
“This is a long-standing vision for the town and one 30 years in the making,” town Director of Planning and Land Use Paul Materazzo said.
He added that the land was looked at more closely for this purpose in 2007 to see what it could be developed into when the Department of Public Works was moving to a different location.
The special permit included 58 conditions, three of which were amended. Two amendments dealt with the land disposition agreement, which puts restrictions on how land can be used regarding matters like open space and affordable housing.
The Planning Board required a special permit in accordance with town bylaws to make sure social, economic and community needs are met and consider traffic flow and safety. The developer also needed to address utilities in the area and any impacts on the environment.
One amendment looked to see that construction will continue until the project is completed in accordance with the land disposition agreement. A condition was also changed to reflect Minco’s request of a financial cap on mitigation of $50,000 for future improvements in the area.
The approval comes after the completion of a traffic study and recommendations from the Department of Public Works.
Planning Board member Rocky Leavitt said the viability of this project is contingent on the traffic flow and vehicular pattern studies.
Another concern was the impact of a water main replacement near the project.
Town Engineer Art Martineau said the water main replacement timeline has accelerated because of the project but it was going to happen regardless if the expansive mixed-use development were approved.
Deputy Director of Public Works Carlos Jacquez added that the town is upgrading all water mains in the area and the work is related to improvements not directly associated with Andover Town Yard.
Minicucci said he understands it is a complex project that is important to the town.
“We are a local company in North Andover and we are going to be judged on how well this project comes out,” he said.
The project will now undergo an appeal process and then a permit process. The land disposition agreement will come into play to set up the eventual sale for the land transfer, Materazzo said.
There is no timetable for the next steps, he added.