Land Use
enter 128, Needham, MA
Master-Planned Mixed-Use Park
Over a period of three years, beginning in 2010, Mr. Krebs acquired, assembled and permitted three tracts of land totaling 41-acres in the New England Business Park (first master-planned industrial park in the nation) and worked with the Town of Needham to re-zone the area into a suburban based technology park. Through the re-zoning, Mr. Krebs received entitlements for 1.8 million square feet of mixed-use development, including office, hospitality, residential and retail uses. The development was kicked off with a five-story Marriott Residence Inn with 128 rooms, and shortly thereafter Mr. Krebs secured TripAdvisor, the world’s leading technology travel firm, for a 450,000 square foot global headquarters office complex. He also led the build-to-suit lease negotiations with TripAdvisor and was able to secure Tax Incremental Financing from the Commonwealth for the development. The park also incorporates a 390-unit residential apartment project, which Mr. Krebs secured Toll Brothers to purchase the property upon entitlements. The Center 128 Project was a key catalyst to the Needham Newton Chamber of Commerce’s development of the N2 corridor and helped the Town of Needham secure a $2 million MassWorks grant for roadway improvements on Needham & Highland Avenues, in addition to over $2 million in mitigation projects provided by the Developer.
iverside Station, Newton, MA
Transportation Oriented Development
Beginning in 2007, after the acquisition of the abutting Holiday Inn hotel, Mr. Krebs commenced discussions with the MBTA to issue an RFP for the redevelopment of this 1,000-space parking lot at the Riverside MBTA station in Newton, MA. The MBTA issued an RFP in 2009, and at the conclusion of the competitive process, the site was awarded and a long-term lease was signed with the MBTA. In 2010, Mr. Krebs began the permitting process with the City of Newton. After a two and a half year re-zoning and permitting process, the project was approved in 2012 for a 580,000 square foot mixed-use project, including a 290-unit apartment project, a 10-story, 225,000 square foot office building and 25,000 square feet of service retail. This was the largest project ever approved in Newton. Mr. Krebs is current working with the ownership group and the MBTA to commence construction of the MBTA garage and advance the vertical development of this project.
It all started when...
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