A Southborough developer has proposed a 400-acre mixed-use development in North Lancaster, which is expected to generate $2.5 million in real estate tax revenue per year once built up.
Known as The Landing, the development is pitched by Southborough-based developers Capital Group Properties in partnership with the Lancaster Affordable Housing Trust & Economic Development Committee.
“As Lancaster faces a budget crisis that threatens to force cuts in municipal services & increases in property taxes, this project is the next step to keeping this community a wonderful place to live, work, & raise a family,” the website says in its explanation of the project.
The site is a sand-and-gravel operation pit on Lunenburg Road across from events venue Kimball Farm.
Included in the development will be residential, retail, commercial, and industrial components.
The 63-acre residential development will include 150 units, a quarter of which will be affordable, according to Lancaster’s housing trust chair, Victoria Petracca. The remainder of the units will be market-rate.
The housing trust is pursuing state approval for a 40R Smart Growth Zoning Overlay District, which could provide state funds and a regulatory framework for the project.
The 40R district would include 34,000 square feet of retail and commercial space, and a connection to the public MBTA bus route, according to The Landing website.
The logistics center, which is separate from the 40R district, would be a nearly 1.2-million-square-foot facility creating hundreds of jobs, per the website.
Lancaster residents will be able to vote on the residential component during its spring town meeting, Petracca said. Capital Group Properties has held several public forums, most recently on Jan. 12. The next one is Feb. 9, according to The Landing Facebook page.
