The History of River's Edge

River's Edge (originally TeleCom City) was conceived as a regional economic development project by the cities of Everett, Malden and Medford. In 1996 the Commonwealth of Massachusetts established the Mystic Valley Development Commission (the “MVDC”), defined the affected area of over 200 acres located within the three cities, and provided the MVDC with certain powers including eminent domain within the designated area. The Directors of the MVDC are the mayors of the three cities and a designee from each city. The Governor of Massachusetts is an ex officio Director.

The MVDC through its agent, the Malden Redevelopment Authority, planned the project with significant input from various community groups, and obtained state and federal funding for the following: planning, the land takings

constituting Phase I, certain environmental testing and remediation and the widening and reconstruction of the road, River’s Edge Drive/Commercial Street, which forms the western border of Phase I. The project has been recognized as a great example of a regional partnership which is highlighted by a tax sharing agreement among the three cities.

The MVDC has acquired 18 parcels from 11 owners, which parcels comprise the 30-acre Phase I of the project and allowed for widening of the road both north and south of Phase I. The MVDC has also accomplished the following; oversight of the $17 million design and reconstruction of River’s Edge Drive, demolition of approximately a dozen buildings on the Phase I site, certain environmental testing and site remediation, obtaining various approvals and permits necessary for the project to proceed, and selection of Preotle, Lane & Associates (“PLA”) as developer through a public process. The project through its original technology focus helped bring enhanced technology to the schools in the three communities.  In 2000, the project was designated a Showcase Community by the National Brownfields Partnership, which includes the United States Environmental Protection Agency and the U.S. Army Corps of Engineers, conferring on the development both prestige and financial benefits.

In recent years the MVDC has worked to broaden the project’s focus, to clean up the Malden River and on the development of future phases. The MVDC continues as the project’s permit-granting authority.

Aerial: Phase I site looking north (July 2000) by www. lesvants.com