Broadway Capital Hopes to Build Development Momentum on Second Street

The gas station on Second Street in Chelsea Square is now slated for development as the long-time owner looks to retire and has an option to sell the property to Broadway Capital, which has proposed to develop the property into a new residential building.

Reggie’s Service at 31 Second St. is now being slated for 24 units of housing, with 20 percent of it being affordable units. The project was presented by Broadway Capital’s Mike Vienneau on Tuesday at the Planning Board and is making its way through the review process.

It will include 36 parking spots, all underground, he said.

Vienneau said they are very open to making the units condos for sale, rather than rental apartments. Right now, they are just finishing up the former nursing home at 932 Broadway, and if sales go as well as they hope there, then Vienneau said they would use the same formula on Second Street – if approved.

“The nursing home is kind of our test site for homeownership here and if it works – which we believe it will, we’ll plug in the same formula for Second Street,” said Vienneau.

The project will move to the Zoning Board in the coming weeks for additional reviews and potential approvals.

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