The Benefits

Affordable Housing

Our residences will be a 40R community , benefiting the town financially and allowing local input. The 146-unit community includes 25% Affordable Housing, surpassing the state’s requirement. Adopting 40R brings a one-time payment of $788,000 and potential school stabilization funding. It prevents unregulated 40B housing development, helping Lancaster meet state Affordable Housing requirements.

Real Estate Taxes

The project will easily become the #1 taxpayer in all of Lancaster upon build out.  The property will transform an open sand and gravel pit into a mixed use development that will generate far more real estate tax revenue for the Town annually.

  • New real estate tax revenue estimated to reach nearly $4 million per year (at full buildout), all of which goes straight to Lancaster’s approximately $20 million Town budget
  • A one-time approximately $650,000 payment to the Town from the State under 40R & possibly school stabilization funding provided under 40R & 40S
  • Lancaster is facing a fiscal crisis, with critical municipal services expected to be cut without new sources of income

The Environment

Capital Group Properties is committed to being a good steward of the community wherever we work. We will replace the open sand & gravel pit in a manner that respects the environment by:

  • Capital Group Properties shall meet or exceed the requirements for working in the portion of the site within the Area of Critical Environmental Concern (see ACEC maps below).
  • Coordinating with Massachusetts Environmental Policy Act (MEPA) to complete environmental studies in progress.
  • Capital Group Properties will meet or exceed state and/or federal design standards for Stormwater Management controls throughout the Project.
View Cooks Conservation Land

Open Space

Two parcels of land along the Nashua River corridor, totaling over 86 acres, will be transferred to the Town by 702, LLC for public use, protecting them from development.

Trails will be connected through easements from the site to this expanded & protected open space.

Trails & Recreation

The project will also make improvements to the Cook Trail system, which currently runs through 702 LLC’s property, by improving access & creating new connection points. There will be new access points to White Pond Road and connecting to the 40R development. In addition, easements shall be formalized to the Town for use of new trails in certain areas of the property, where none exist today.

Regional Public Transit

The Landing will include bus & train access via new transit stops within the development for connectivity with the surrounding area. This amenity reduces new traffic counts & emissions & also offers a great transit benefit to existing nearby residents.

Transit connections include:

  • Connection to the public MRTA Bus Route #8 for a transit-friendly environment.
  • Two MRTA bus stops: one within the 40R & one within the logistics center.
  • MRTA Bus Route #8 currently connects to the nearby MBTA Commuter Rail Station in North Leominster via the Mall at Whitney Field, & one-stop away, the North Leominster Commuter Rail Station provides service to Boston, Cambridge & Fitchburg.
  • MRTA Bus Route #8 currently services Downtown Leominster, the Mall at Whitney Field (Market Basket/Food Court), D’Ambrosio Eye Center (Lancaster), Orchard Hill Park (Target/Kohl’s etc.), Crossroads Office Park & the Leominster Senior Center.