The site comprises a mix of industrial, office and retail usesand yields 12% of all property tax revenue here. The town hasrequested a number of zoning changes that would allow for moredensity on the site. The proposed zoning would include three newdistricts--an office park, a commercial street, and a mixed-usecenter. The proposed zoning would establish a two-tiered system,with lower densities allowed by right and higher densities allowedby special permit. A town official tells GlobeSt.com that the townwants to allow for more density in the area. According to thetown's executive summary, the 2.5 million sf of potential newdevelopment space here could generate over five million dollars peryear in new taxes.

One encouraging sign for this project is the legislation thatwas just passed that would allow Needham to establish a trafficmitigation fund. Even without the increased density, a townofficial notes that traffic has always been an issue on Route 128in this area and the town would like to build an exit here atKendrick Street.

The traffic mitigation fund, which has to be approved by TownMeeting, would create a dedicated funding source for the trafficimprovements. Special permit fees from new development wouldconstitute the fund's primary source. The proposed development ofthe area here would generate approximately $6.25 million in specialpermit fees over a 10-year period.