50 Silsbee Street Update 07/20/18
Developer Granted One Year Extension on 50 Silsbee Street Project
Illy, a Lynn developer, was granted a final opportunity to redevelop the building at 50 Silsbee Street in Lynn. Earlier this month, the Lynn City Council agreed to grant a one-year extension period for the project. The council voted for no additional extensions and agreed that if the developer chooses to sell the property the special permit could not be sold with the building. The $20 million project is set to include 115 residential units and ground floor retail space, expected to house a grocery store.
Construction is expected to begin March 2019 and the anticipated completion date is the summer of 2020.