The following is from the City of Malden.
With members of the Malden City Council looking on, Mayor Gary Christenson signed a Land Disposition Agreement (LDA) with Jefferson Apartment Group Development Company LLC (JAG) for the sale of the 200 Pleasant Street, Government Center site on Thursday evening, February 20th. The execution of the LDA is a significant milestone in the City's efforts to revitalize Malden Square by demolishing the Government Center Building and Police Station to reopen Pleasant Street to through traffic.
The project includes 245 units of housing, 17,250 square feet of commercial space and 314 parking spaces subject to refinements as the project moves forward into more advanced design and development. In accordance with the LDA, the City must be off the site by December 31, 2015.
A five-member subcommittee of the City Council has been formed to oversee this project which includes Councillors Neil Kinnon, Barbara Murphy, James Nestor, John Matheson and Craig Spadafora. Assisting this subcommittee is an internal team that includes Deborah Burke, Executive Director of the Malden Redevelopment Authority, Charles Ranaghan, City Controller, Ron Hogan, Strategic Planning Analyst and Kevin Duffy, Business Development Officer.
“This historical day has been a long time coming!” said Mayor Christenson. “The City Council and I are enthusiastically moving forward on the community’s goal of revitalizing the downtown.”