Condo Development Sought in Marlborough Office Park

[VIA BANKER & TRADESMEN]

A Southborough-based real estate developer wants to rezone a Marlborough office park to allow construction of residential condominiums.

Ferris Development Group acquired 130 Lizotte Drive, a 5-acre parcel that includes an 80,000-square-foot office building, for nearly $4.5 million in March.

Berkshire Bank provided $15 million in financing, according to a Middlesex County Registry of Deeds filing.

The developer is seeking approval from the Marlborough City Council for a Lizotte Drive Overlay District, allowing construction of residential condominiums, self-storage facilities and contractor’s yards. 

The proposed district includes properties along the west side of Lizotte Drive, off Williams Street near the junction of Interstate 495 and Route 20. 

The area is currently zoned for light industrial. A Planning Board public hearing on the proposal is scheduled for June 3.

Ferris Development Group owns office and industrial properties in Boston suburbs, primarily along the Route 495 belt.