NEWBURYPORT — Municipal leaders reacted with cautious optimism regarding an announcement this week that MINCO Development Corp. seems to have won a competitive contract to build 67 apartment units on 11.1 acres near the Massachusetts Bay Transit Authority train station.
If the plan is implemented, the project would be the largest home-building initiative here in at least a decade, city officials say.
“We need to learn more, but that is one of the last parcels in the city for major construction,” said City Councilor Barry Connell, who is chairman of the Neighborhoods and City Services Committee of the council. “A mixed-use plan would be interesting, and we’d like to see affordable housing emerge in this complex.”
MINCO, with offices in North Andover and Newburyport, bid $1.431 million for the land, which borders Boston Way and Parker Street near the MBTA train station.
If built, the complex could fit into what some municipal leaders hope will be a “smart residential growth district.” Planners at City Hall have envisioned housing, retail and transportation opportunities in that area.
City officials say the bid will likely be finalized within several weeks. Statutes require the MBTA to accept the highest bid, and MINCO was the highest of two bidders.
Municipal leaders plan to work with construction managers so that some units are built as “affordable housing.”
Though most city officials haven’t seen details of the MINCO proposal, city councilors including Connell, Tom Jones and Tom O’Brien have noted that providing affordable housing is a priority.
MINCO officials say that their planning takes into consideration the desire for affordable housing, and perhaps 10 percent of the units will be for those with “modest” incomes.
If that were the case, applicants must meet maximum income limits set by the U.S. Department of Housing and Urban Development.