On September 10th representatives from Sam Park & Company and TEC Engineering provided the 128 Business Council with an update on the progress of their development of the former Polaroid site in Waltham, now known as 1265 Main Street. Demolition and site preparation is currently underway on Phase 1 of the project, which will consist of 280,000 square feet of primarily retail space. Phase 1 is slated to be completed and occupied with tenants by the fall of 2013. The development team is in negotiations with a variety of tenants including a major grocery store chain, several restaurants, and a department store.
As part of the permitting process for Phase 1, Sam Park & Company (SPC) has agreed to a number of roadway mitigation projects. The section of Main Street between Hill Road and Stow Street will undergo minor widening and resurfacing to create a 4-lane intersection at the entrance of the development at Border Road. A traffic signal would also be added at this intersection. Additionally, Exit 26 off of Route 128 Northbound will be slightly widened and resurfaced to create an additional stripped lane onto Route 20 Eastbound towards Tavern Square.
Phase 2 of the project will include an additional 1,000,000 square feet of mixed use development. Before Phase 2 construction can commence, SPC will work with MassDOT to study the impact the new development could have on traffic in the Waltham stretch of Route 128. The development team emphasized that the of the corridor study's scope of work will be informed by feedback from City, State, and local stakeholders, and will examine potential improvements the development team can make to improve access to the site and discourage through traffic in residential neighborhoods surrounding the project site.
In addition, the development team has created two websites with more information about the project: