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ARLINGTON, MA-Town meeting approved the rezoning of the 18-acre former Symmes Hospital site that will allow developers to build a 265-unit residential complex and a 54,000-sf medical office building on the property. Symmes Redevelopment Associates picked up the site for $10 million from the town. The group is a partnership of developer Edward A. Fish Associates and a locally based physician’s practice, Menotomy Medical Partners.

The Lahey Clinic currently occupies 25,000 sf of the 170,000-sf hospital building. The project will entail the demolition of the main hospital building as well as the 24,000-sf former nurses’ residents, which is currently vacant. The agreement also involves a profit sharing component in which the town will be able to share profits of the project once the partnership’s profits exceed 21%.

Kevin O’Brien, director of the town’s planning and community development department, tells GlobeSt.com that the developers still need a special permit from the Arlington Redevelopment Board before they can start the project.

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