MAYOR NEIL PERRY ANNOUNCES DESIGNATION OF SAi GROUP FOR THE REDEVELOPMENT OF 54 OSGOOD STREET AND SURROUNDING PARCELS IN METHUEN'S HISTORIC CENTER
Concept plans call for the transformation of long-blighted and contaminated City-owned property and adjacent parcels into a vibrant residential and commercial development that includes new construction of market-rate and affordable apartments and the restoration and re-use of the historic nineteenth century Methuen Company Storehouse
METHUEN, MA: Methuen Mayor Neil Perry announced that the City will begin formal negotiations with SAi Group, based in Salem, NH, on a proposal for the sale of 54 Osgood Street, a City-owned parcel of contaminated land that has been vacant and blighted since 1994. SAi Group's concept plans, which were presented to the City in response to a Request for Proposals that the City issued in May, encompass not only the City-owned parcel, but also the surrounding adjacent parcels on the same block. The project includes new construction of 76-88 attractive market-rate and affordable residential units, and the adaptive re-use of the historic Methuen Company Storehouse into retail/restaurant space.
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