BELMONT, MA-As part of the recent "smart growth" initiative, the Massachusetts Bay Transportation Authority develops an RFP for the air rights at the Waverly Square commuter rail station on Trapelo Road.

MIDDLEBOROUGH, MA-A developer wants to convert the former St. Luke's Hospital into a 70-unit condominium complex under the Chapter 40B affordable housing law. A town representative says the community welcomes the project.

BOSTON-The state will invest at least $400 million every year in upgrading roads and bridges until the year 2012. The bill includes a $54-million commitment to developing residential and economic activity around MBTA stations.

BOSTON-Wachovia Corp. opens a local commercial real estate banking office at One Boston Place in the city's downtown area. The financial services company hired three bankers from Fleet Bank to run the operation.

BOSTON-The Massachusetts Port Authority selects Chicago-based Urban Retail Properties and locally based Drew Co. to develop its 11.3-acre site located on South Boston's waterfront.

MARLBOROUGH, MA-New England Development and SR Weiner and Co. sell the Shops at the Pond Shopping Center for $26.5 million. Kimco Realty Trust acquired the fully tenanted, 103,000-sf mall, which was built last year.

LEXINGTON, MA-NitroMed Inc. relocates and expands its corporate headquarters and research facilities with a 52,000-sf lease in the Spring Street Technology Park. The 361,000-sf complex is the site of Raytheon's former headquarters.

SUDBURY, MA-The town will acquire 35 acres of developable land in a settlement of a lawsuit with the property's owners. There is interest in building a senior housing development on the site, which is zoned for residential use.