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'Reading Woods' Condo Development Begins to Take Shape

The condo development will be located at the former Addison Wesley site in Reading.

From Route 128, if you look toward the former Addison Wesley site, just west of Main Street in Reading, you can see construction equipment, piles of dirt and a building under construction. To the east, you can catch a glimpse of a completed building, and another one under next to it still in the works.

Pulte Homes is building condominiums, in phases, on the 25-acre site.  

The larger building – four stories when it’s done – will contain 50 one and two-bedroom condo units, all garden-style -- that is, on one level. They will be done in four to five months, in August to September, according to Sales Consultant for Pulte Homes Mary Burbank.

The other two buildings are townhouse-style-condos, three levels, with three bedrooms. Each building contains four units.

Ultimately, Pulte could build 424 condos on the property, named Reading Woods: three more buildings of 50 garden-style units each near the first one; two more buildings of townhouse units adjacent to the existing two; and five other buildings, in two clusters, with a total of 208 units specifically for residents age 55 and older.  

The market-rate price for a one-bedroom unit in the first building of garden-style condos ranges, Burbank said, from about $238,000 to $255,000; a two-bedroom, from about $335,000 to $390,000.

The price of the townhouse-style units ranges, Burbank said, from the mid-to high $400,000s.

The townhouse condos include two car garages. The other units have 1.6 outside parking spaces per unit.

Deeded underground parking is available for a one-time fee of between $9,000 and $12,000 for one space; $15,000 for two spaces.

Forty of the garden-style condos -- out of 200 when all four buildings are built – will be affordable, according to Burbank.

A lottery for the affordable units will be held in June, she said.

Pulte has sold 23 units, 22 garden style and one townhouse, according to Burbank. Buyers are from Reading, she said, and surrounding communities, including Stoneham, Wakekfield, Melrose, Medford, Andover and North Andover.

Reading has no new housing of this type, Burbank commented. She pointed to the space in the condos – “right-sized,” not downsized, she said, and details such as the nine-foot ceilings and thick molding in the townhouses.

Mary Burbank, (508)-641-7014; Sarah Eldred, affordable home program consultant for Pulte Homes, (508)-614-8541.

Festivus April 19, 2012 at 01:33 PM
What was the purpose of installing the island at South St & Jacob Way? What a mess!
Karl Weld April 19, 2012 at 01:54 PM
So only half of the units are deed-restricted 55+? That's not how this project was initially presented. I recall the whole development being 55+ housing. What impact will this have on our school system. Isn't the Eaton school already at max capacity? Based on a project in Lexington, with the same company doing the fiscal impact analysis as Reading Woods, we could be seeing 80 new students. If I remember the report correctly, it was projected that the max number would be 25 new students from Reading Woods. That's a BIG difference. (link: http://www.wickedlocal.com/lexington/news/x698070514/Projections-dont-match-reality-for-Avalon-at-Lexington-Hills#axzz1sUgp1pTb)
M April 19, 2012 at 11:08 PM
Karl, my memory may be wrong but I recall only half being 55+, and I've been following this fairly closely. See:http://www.ci.reading.ma.us/Pages/ReadingMA_BComm/CPDCDocs/Current/01625E84-000F8513 However, the article today did not say whether the units sold (or built) thus far are the dedicated 55+ units, I think the over 55 units were going to be entire buildings and not mixed in. I am amazed that they have sold that many units thus far. You are correct that Eaton seems to be at capacity. For example, they had to move the RISE preschool from there this past year to add a 4th 1st grade class,(all classes are 20-22 students), which is now moving on to 2nd grade, where a 4th class probably will be added, etc I don't know why we folks using south st to get to main have to get a stop sign but the Pulte homes site has the right of way now, seems wrong to unfairly penalize existing residents to yield to vehicles speeding in and out of Reading Woods.. Moreover, entire intersection seems to have reduced capacity and is narrower as it enters South; will not work well or have visibility if (when) there are big snow piles.
Rob April 19, 2012 at 11:59 PM
This whole development is a fiasco. One more nail in Reading's coffin. You want to be like Malden, you're gonna get it.
David A April 20, 2012 at 02:19 PM
The whole idea behind the island is to isolate the neighborhood and dissipate the traffic, encouraging residents of Reading Woods to exit to Main Street as much as possible, and not head down the narrow, residential South Street in large numbers. It was added as a buffer to help alleviate the impact to the immediate neighborhood. Will it actually help is another question.
HM April 20, 2012 at 03:19 PM
I agree
Nadine Wandzilak April 21, 2012 at 02:11 AM
A Jan. 25, 2011 story on Patch cited 208 units for residents 55 and older. Those units will be in two clusters of buildings that will be built in several years, according to the sales consultant for Pulte Homes.
tom flaherty April 21, 2012 at 02:14 AM
Tom F Where did they come up with an estimate of 25 students being added to the Reading school system? Here we go again! And now we're loosing Keurig. Would not the Addison land have been a nice property for corporate development. We need to have a plan for our town and just not wait for developers to come here and do our planning for us.
GLeo April 21, 2012 at 08:14 PM
The addition is really going to hurt the Joshua School system, it makes me want to look for a home in a different area of Reading. The best case scenario would be closing off the access to South Street from Main Street and leaving an entry to Reading Woods. The rest of the neighborhood could loop around, it would be a blessing to the whole neighborhood.

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