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Jefferson Apartment Group Confirms New Mixed-Use Redevelopment in Downtown Malden

New Transit-Oriented Project to Feature 320 Apts., Revitalize Historic City Center
March 7, 2017
Jefferson Apartment Group (JAG) will develop a mixed-use, transit-oriented residential, civic office and retail project in downtown Malden, MA.

The project comes after three years of cooperation with the City of Malden and the purchase of three properties: the City of Malden Police Station, City Hall, and the First Church of Malden.

The goal of the public-private development is to transform the gateway to Malden Center and reconnect Pleasant St., the city’s historic retail core, to the Malden Center MBTA station.

The redevelopment will include three buildings all connected by a sky bridge. At full build-out, the project will feature 320 residential units, 45,000 square feet of office space and 22,500 square feet of street-level retail space.

A new public park and roughly 30,000 square feet of common space, to include approximately 9,000 square feet of indoor amenity space housing a fitness center and yoga room, solarium, club lounge and conference space, and 21,000 square feet of outdoor space featuring a pool, pergolas, fire pits and a roof deck, have also been incorporated into plans for the development.

Debt and equity financing for the project has been provided by Northwestern Mutual Life Real Estate.

Jefferson Apartment Group is a McLean, VA-based full-service real estate firm specializing in multifamily and mixed-use real estate investments. JAG focuses on urban transit-oriented properties on the East Coast. Milwaukee, WI-based Northwestern Mutual Real Estate is one of the largest real estate investors in the nation with investments across all major commercial property types.
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