Reading's Green Shoots: Reading Woods

"Reading Woods" – 1 Jacob Way (Former Addison Wesley)

The Community Preservation and Development Corporation (CPDC) voted and approved the site plan review application for to redevelop the former Addison Wesley site at 1 Jacob Way back on Monday, March 28th – ultimately approving the development of 424 owner occupied residential units at the site.

"It's always good to see redevelopment of vacant properties, so that’s another big win for Reading having Reading Woods come in," said Community Services Director/Town Planner Jean Delios.

One fiscal benefit Pulte Homes has stressed in relation to the development is the fact that the town will receive a total of $950,000 in Charter 40R smart growth funds by 2015, a trust fund that offers  “housing incentive payments” when certain criteria is met.

Although Chapter 40R encourages "mixed-use" projects (aka residential and commercial components to new developments), Delios feels that although it would have been nice to incorporate some sort of commercial component to Reading Woods, the residential project meshes well with the residential neighborhood at Jacob Way.

"We got a very nice project, and a very complementary residential project to the residential neighborhood, so I think that will be a real win for the community," said Delios.

Additional progress that has been made in regards to the project includes the Board of Selectmen deciding on a intersection that they felt best suited current residents and those moving in to the area. Also, a monitoring agency has recently been chosen for the project.

Although there is a lot to do before this project gets off the ground, demolition and construction is expected to begin in late spring or early fall of this year. 

This week, Reading Patch will feature businesses and developments that could be considered "green shoots", or signs of economic growth, for the town of Reading. We will feature one new business or development each day.