Completing Overlook Ridge and Improving Traffic Flow for the Community
Beginning in 2001, the Overlook Ridge development has transformed the historic Rowe Quarry on the Revere-Malden border into a successful, master-planned community featuring 1,977 apartment homes.
As part of this initial phase of development, the owner, Veris Residential Trust of New Jersey, has paid nearly $4 million in impact fees to Revere and Malden, constructed a seven-acre wetland, passive recreation area, developed a two-acre community park, built a 7,000-square-foot public fire station, and installed a new pedestrian crossing signal on Salem Street to improve access to the new parks.
In conjunction with WinnDevelopment of Boston, Veris Residential Trust is now proposing to
complete the original vision for Overlook Ridge by developing four remaining parcels on the property and improving traffic flow into and out of the community via Route 1.
The proposal calls for a phased development that would create:
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An active adult and mixed-income community in Malden that would include 172 apartments for households with incomes that qualify affordable and middle-income (workforce) housing.
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A mixed-income apartment community in Revere that would include 47 affordable housing units.
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Market rate apartments, along with a limited-service hotel with retail space, in Malden.
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Retail space in Revere to serve residents of Overlook Ridge.
As part of the development plan, proposed transportation improvements would not only redesign Overlook Ridge Drive and Salem Street to make the intersection safer but also reconstruct the on and off-ramps to Route 1 North, in conjunction with the state’s plan to widen the highway, to significantly improve traffic flow for residents, guests and commuters. The existing Route 1 North on and off-ramps at Vining Street in Malden will be removed, improving the quality of life for residents that live there.
This proposal for the final phase of Overlook Ridge requires local zoning and local permitting from officials in Revere and Malden, as well as state permitting approvals and state subsidies and grants.
This website is designed to explain the Overlook Project in more detail, keep you informed of public meetings on the development and provide an opportunity to submit your feedback and questions to the development team.