MINCO, an 18-employee firm with offices in North Andover and this community, is the developer of a 114-unit complex off Storey Avenue known as Maritime Landing. It is also developing a medical-arts building at 255 Low St., units of which will be leased by Anna Jaques Hospital.
“There is an existing pent-up need for places to live in Newburyport,” said Minicucci. “Newburyport is a very desirable community, and we feel there will be a demand for these units.”
He said he couldn’t identify a specific start date, in part because of the coordination required with city officials. But he speculated groundbreaking could be next fall.
City officials for more than a decade have said they want to create a “smart residential growth district” in that area.
The vision of community leaders would call for more development near the nearby Route 1 rotary, and it appears that a new apartment complex will be an appropriate component of the growth plan.
Andy Port, the city’s director of development and planning who pressed to have affordable housing included in the cost estimates, said that MINCO is in its “due diligence period for site investigation and permitting.”
He indicated that the city is a key stakeholder in the development of the land and that some of the corporation’s plans could change to address concerns of the city.