‘The very best of a public-private partnership’: King Street Common breaks ground

LITTLETON — The groundbreaking ceremony for King Street Common, an expansive, campus-style development by the Lupoli Companies, took place on the site of the former IBM campus located at 550 King St. Monday afternoon.

Gov. Maura Healey, U.S. Rep. Lori Trahan, state Reps. Jamie Eldridge and James Arciero, state Housing Secretary Ed Augustus, former Lt. Gov. Karyn Polito, Lupoli Companies President and CEO Sal Lupoli and many other state and local leaders threw the ceremonial sand from gold-handled shovels to mark the development that Healey called “really, really exciting.”

The governor said Lupoli was “a force and a force of nature” while praising the visionary aspect to the project.

“It’s a hugely important project for Massachusetts,” Healey said during her remarks before a large crowd. “It shows what’s possible — the very best of a public-private partnership.”

King Street Common project will transform the 50-acre former site of IBM, which was once one of the largest software labs in North America. Its nearly 2 million square feet of space will be built out with about 1,100 housing units, a 150-room hotel, 115,000 square feet of retail and restaurant space, and significant office and manufacturing space. The project will also include open space for community use and events.

The corporation moved their headquarters to Cambridge, leaving the campus empty amid the COVID-19 pandemic.

The project was a public-private partnership between the town of Littleton and Lupoli Companies, with funding and support from state and federal leadership.

The development is a big leap forward toward the Healey-Driscoll administration’s goal to build 200,000 homes statewide.

“This is so critical,” Augustus said. “To take a former commercial space and convert it to housing is what we need to be doing.”

Significant state and federal funding played a critical role in the deal.

An enormous sewer expansion, required to support the largest investment in housing in the history of the commonwealth, was taking place within earshot of the groundbreaking ceremony.

A large excavator was digging trenches to lay down new and expanded sewer lines that were partially funded by $8 million in state American Rescue Plan Act monies that Eldridge and Arciero secured in Healey’s economic development bond bill.

The town approved another $2 million in ARPA funds, and the state threw in an additional $3 million in federal loan forgiveness from the state’s Clean Water Trust Fund.

The $13 million represented the public sector working to match the Lupoli Companies’ “incredible” private investment, said Trahan.

“This is what progress looks like,” she said. “Public and private sectors working together to deliver tangible benefits for communities like Littleton.”

King Street Common sits right off of Interstate 495; right across from The Point, an open-air shopping destination with shops, restaurants, a movie theater, and a hotel; and 10 minutes from the commuter rail station.

Earlier this year, Arciero and Eldridge secured a $1 million grant from the HousingWorks Infrastructure Program, a competitive state grant program for municipalities and other public entities for a variety of infrastructure projects and housing projects.

The project also took advantage of commercial conversion tax credits and sustainability green housing initiatives, Arciero said.

“Public and private partnership is a real-life example of the Affordable Homes Act that we passed this last summer,” he said.

Arciero praised Lupoli for his “leap of faith” in developing the project, which was first proposed in 2022.

Following construction of the sewer infrastructure improvements, the campus is set to begin construction within the next two years, with the final phase being completed by 2037. The 40 senior affordable housing units will be completed by 2027-2029.

“We want Massachusetts to be affordable, where you can grow up and stay and raise a family,” Healey said. “Businesses can look to expand and attract more talent. This is the kind of project that we need. It’s an example for the whole state.”

Lupoli closed out the program, thanking the town of Littleton, Town Manager Jim Duggan, the Select Board and the various land use boards for their “unwavering support and boundless excitement” for King Street Common.

“I’m beyond thrilled for this monumental project as it is a legacy endeavor that will eventually transition to the second generation of the Lupoli family,” Lupoli said. “Nothing is more important than building for the future of my family and the company they will eventually lead. This project is not just a development; it is a beacon of progress and a testament to our unwavering commitment to excellence.”