A market study conducted by the highly respected Metropolitan Area Planning Council of the Wells Avenue Office Park says the site needs residential, retail and office space to remain vital, Jim Morrison reports in the Newton TAB
The report claims the age of the buildings and design of the park will make it “functionally obsolete” and less attractive, particularly since other mixed-use projects are being planned in the vicinity.
“Wells Avenue will be at a significant competitive disadvantage and lose value as new, amenity-rich product comes online nearby in Needham, and along the entire 128 corridor,” the study reports.
Go here to read the full study, along with a letter from Acting Planning Department Director James Freas here.
Previously: Globe columnist says Newton should infuse new life into tired office park