The residential component of the Edgemere Crossing at Flint Pond development in Shrewsbury, which will be anchored by an 80,000-square-foot Market Basket grocery store, is expected to deliver the first of its 250 units by June 2022, with final completion by January 2023.
“We are excited to be moving our first residents in next year,” said Andrew Dolben, executive vice president of The Dolben Co., Inc. of Woburn, which is building the housing development.
The bank Rockland Trust gave the updated timeline in an announcement on Thursday, saying the bank led the $53-million financing package to The Dolben Co. to build the housing at the former Edgemere Drive-In movie theater on Route 20. The development will include 116 one-bedroom units and 134 two-bedroom units, and 25 of those will be affordable housing.
“The development will support economic activity, especially the patronage of local businesses. We look forward to continuing to be part of the area’s success for years to come,” said Peter Staiti, first vice president and Worcester commercial lending center manager at Rockland Trust. in a press release.
The rest of the Edgemere Crossing at Flint Pond development will include 43,000 square feet of additional retail, on top of the planned Market Basket, for which the Tewksbury grocery chain paid $3 million in April for the property to build the site.
