The URL can be used to link to this page

Home My WebLink About2017-08-09-EDAC-min Town of Lexington Economic Development Advisory Committee (EDAC) Minutes of Meeting August 9, 2017 A meeting of the EDAC was held on Wednesday, August 9, 2017 at 8:00 a.m. in the Parker Room of the Town Office Building. Members Present: Rick DeAngelis, John McWeeney, David Pronchick, Sig Tullmann, Narain Bhatia, Kevin McGuire, Tom Dusel, Larry Smith, Charles Minasian, Staff Present: Melisa Tintocalis Liaisons Present: Charles Hornig, Joe Pato, Doug Loucente Members Absent: George Burnell MOTIONS 1.Narain Bhatia moved that minutes from June 21, 2017 be approved with spelling corrections, Larry Smith seconded. The minutes were approved unanimously. 2.Larry Smith moved that the EDAC fully support the King Street lab-office concept at 45- 65 Hayden, John McWeeney seconded. The motioned passed unanimously. ACTION ITEMS 1.Larry Smith volunteered to connect with BAE Systems located on Forbes Road to inquire about future plans with property. MEETING NOTES Development Areas John McWeeney outlined development areas for the EDAC members to consider and discuss. Mr. McWeeney reviewed potential development at various locations including Shire, Ledgemont, Cubist/King Street, MIT Lincoln Labs, Forbes Road, Spring Street, and 10 Maguire. Mr. McWeeney asked for updates from various members of the committee regarding these areas. Tom Dusel of Hobbs Brook reported that there remains a pending appeal regarding Ledgemont 2; however, Mr. Dusel stated that the appeal does not impact Hobbs Brook because they are not preparing to build Ledgemont 3. He reported that his company was currently focused on advancing projects in Waltham. David Pronchick reported that MIT and MIT Lincoln Labs are still making progress to fund renovations on the MIT LL campus. Mr. Pronchick reported that MIT ENGINE’s core mission is technology transfer; hence the need for nearby space is important. Larry Smith added that there have been access issues to get on the Hanscom base. Mr. Smith has observed that the air force and related contractors are exploring space options on the periphery of the Hanscom base, but those looking for space are surprised at the per square foot price which can be upwards of $34.00. Mr. Pronchick also reported that he attended a Department of Defense symposium in Washington, D.C.. He provided Melisa Tintocalis with some reference materials. Mr. Pronchick advised that it would be wise for towns that border bases to track BRAC discussions and be involved in the discussions. King Street – New Building Proposal for 45-55-65 Hayden Avenue Campus Rob Albro, a managing director at King Street Properties, introduced himself and presented the company’s proposed project at 45-65 Hayden. The project proposal is the development of a new 200,000 square foot lab-capable building and an accompanying seven story parking garage; the project would require an amendment the zoning at 45-65 Hayden by Town Meeting which they are expected to attend in October. Mr. Albro reported that the parking ratio use for the project was approximately 2.5 spaces per 1,000 square feet. Narain Bhatia inquired how much the parking structure cost per space, however, Mr. Albro did not have that information at the time. The committee members discussed the general market conditions that would make the project viable including Lexington’s location to draw in further out suburban tenants and those needing more space as they grow out of Cambridge or Dry Dock. A motion was made by Larry Smith to support and recommend the project to the Board of Selectmen and it passed unanimously th Joint Board of Selectmen and Planning Board Meetings on August 28 Melisa Tintocalis reported that there a joint Board of Selectmen and Planning Board th meeting scheduled on August 28 to review an overlay zoning concept at Hartwell and Bedford, and possibly Forbes Road. The committee reviewed the maps of the area and discussed opportunities for development. The general consensus was that Forbes may have significant build-out capacity. Larry Smith offered to reach out to BAE systems to inquire about their plans for the future. Adjournment: The meeting adjourned at 9:45 a.m. Next Meeting: September 19, 2017 Approved on: