Boston-based Redgate Real Estate Advisors is seeking a zoning overlay from the Marlborough City Council for two office parcels at 26-50 Forest St. to allow for a mixed-use residential development.
The proposed residential overlay district would cover about 31 acres containing two office buildings. The zoning would allow multifamily housing and retail uses, with Redgate proposing a mixed-use complex.
The office properties have been underperforming, Robert Buckley, a senior partner at Boston-based law firm Riemer Braunstein, said during the City Council’s April 27 meeting.
He presented a conceptual plan for the properties involving the construction of 430 apartment units on the site. The exact number of units allowed within the proposed zone is yet to be determined.
The conceptual plan would keep one office building but add ground-floor retail to it. That office building serves as administrative offices for Marlborough-based Main Street Bank.
The other office building is vacant and would be demolished under the conceptual plan, said Kristine Hung, partner at Riemer Braunstein.
Other possible amenities include pickleball courts and a dog park.Â
Redgate purchased the two parcels for $14.1 million in December 2023 from Boston-based Washington Capital Management, according to the Middlesex South Registry of Deeds.
The council’s Urban Affairs Committee will review the request before a vote by the full council.
The site is directly across the street from a former office parcel currently being converted into 180 residential units by Southborough-based Ferris Development and Georgia-based PulteGroup.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.Â
