Dear fellow Hanoverians:<\/p>\n
PECO Real Estate Partners (PREP), owners of the Hanover Mall, are holding
\nan open forum on Thursday, July 19, 2018 for people to learn about the
\nHanover Crossing revitalization project.<\/p>\n
The forum will be held on July 19 at 6:30 p.m. in the former JCPenney
\nbuilding at the front of Hanover Mall. It is open to all local residents
\nwho are interested in learning more about the revitalization project and
\nasking questions of project officials.<\/p>\n
Town Meeting voters overwhelmingly approved a tax increment financing (TIF)
\nmeasure in June 2017 that paved the way for the Hanover Mall to be
\nredeveloped into an open-air lifestyle center, following years of
\ndecreasing customers and empty stores. PREP was then approached by The
\nHanover Company \u2013 a private real estate company specializing in the
\nacquisition, development and management of high quality multifamily
\nresidential properties \u2013 to potentially construct 297 residences on nine
\nacres within the mall\u2019s footprint.<\/p>\n
PREP will be seeking the approval of zoning variances to move the project
\nforward.<\/p>\n
\u201cMixed\u2013use is so desirable these days because when you apply the
\n\u201cLive, Work, Play\u201d mindset you have people who want to live there
\nbecause of the retail amenities and retailers that want to set up shop
\nbecause of the built-in customer base,\u2019 said Lloyd Sova, vice president
\nof development at PREP. \u201cOne really does fuel the other.\u201d<\/p>\n
The residential component will be high-end units marketed to everyone from
\nyoung professionals up through empty-nesters and seniors who want to
\ndownsize but still stay in Hanover. <\/p>\n
The potential residential component would be built by The Hanover Company,
\nwhich has developed other projects across the state including in
\nFoxborough, Cambridge, Andover and Hanover at The Pinehills in Plymouth.<\/p>\n
Representatives from The Hanover5 Company will join PREP personnel at the
\nJuly 19th meeting to answer all questions. <\/p>\n
Please see the attached flyer for more information or contact Ed Callahan
\nat ed.callahan@preppg.com.<\/p>\n
For “Around Town on the Web”,
\nCathy H-B<\/p>\n
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Dear fellow Hanoverians: PECO Real Estate Partners (PREP), owners of the Hanover Mall, are holding an open forum on Thursday, July 19, 2018 for people to learn about the Hanover Crossing revitalization project. The forum will be held on July … Continue reading