Alta at River's Edge Update - June 29, 2021
Construction is well underway at the Alta at River’s Edge Project. The foundation of the first building, which will be for senior housing, was completed this week. The building is expected to be completed by mid- to late 2022. Construction work on the second and third buildings will begin shortly, with an anticipated occupancy by mid- 2023. When fully occupied, the value of the building is projected to result in the Town’s receipt of $1 million in additional real estate tax revenue.
The Town has received its first escrow payment for the building permit fee of $829,275, much needed revenue this year.
The Department of Housing and Community Development has approved the Town’s local action plan, vaulting Wayland to over 11% affordable housing, based on the 2010 census. The soon to be released 2020 census data will reduce the percent of affordable housing to over 9% but still shy of the 10% requirement under Massachusetts General Laws. We will continue to work with developers to complete projects that meet the Town’s housing goals (see below letters from DHCD).
The Wastewater Management District Commissioners recently completed negotiations and approved an Operations and Maintenance Agreement that provides for Alta at River’s Edge to discharge its wastewater into the Town’s wastewater treatment plant and allows for the Town to send treated effluent to the Alta at River’s Edge leaching field. This will increase the discharge capacity of the Town’s wastewater system, which will allow for expansion of use of the system, and help reduce costs to the current users.
Construction along Route 20 of the wastewater pipe between Alta at River’s Edge and the Town wastewater treatment will begin this week. Work will take place primarily at night and is expected to be completed by early fall.
For more information regarding Alta at River’s Edge please visit https://www.wayland.ma.us/riversedge