The company's plan calls for a 579-unit luxury complex with a20,000-sf retail component. According to Denise Gaffey, actingdirector at the office of planning and development here, theproject needs a special permit to receive approval as the site isunder three different zoning restrictions. The bulk of theproperty, notes Gaffey, is in a commercial zone that would allowfor a mixed-use project with a special permit, which Fidelity isapplying for.

Other special permits include a request to the town to cut backon the parking-space requirements. The city requires 800 parkingspaces for a development of this size. But if Fidelity were allowedto cut back to 600 spaces it would not have to use any above groundspace for parking. The company is basing its request on the factthat the complex is within walking distance of an MBTA stationmaking it a transit-oriented complex. The three acres of the sitethat is in Malden is zoned for its proximity to the MBTA stationand has less onerous parking requirements because of thatdesignation.

Gaffey tells GlobeSt.com that Fidelity has formally applied tothe city's planning board and is currently involved in a series ofpublic hearings. The local response has been mixed, says Gaffey."There been some favorable responses but there are concerns," shepoints out, "because this is a very big project for this city."Traffic concerns and density of the project are the sticking pointsfor some local residents.