National Development’s withdrawal letter

Dear Selectmen,

Thank you, particularly to Mr. Dalton and Mr. Crawford, for your continuing efforts to work with MarketStreet and for the best interests of the community.  You have reflected the true spirit of partnership that has marked MarketStreet’s twelve year relationship with the Town of Lynnfield.  We have appreciated the opportunity to explore our proposal and work with you, the MarketStreet Advisory Committee, the Town of Lynnfield, and the greater Lynnfield community.

The decision not to proceed to spring Town Meeting is a difficult one.  In the end, we believe that it is an unfortunate outcome for both Lynnfield and MarketStreet.  Our application was delayed for a year to allow the MarketStreet Advisory Committee to study the project.  Waiting another year, as suggested by some, would yield no new information.

One of the things that we said when we came before the Board several months ago was that we hoped the discourse could occur in a constructive manner.  Unfortunately, the idea of civil discourse was not embraced by all.  Misrepresentations, inaccuracies and name calling by several vocal opponents will, without doubt, contribute to a poor long-term result for the town.

MarketStreet will continue to be the premier retail destination on the North Shore.  We will also continue to contribute over $4 million to Lynnfield’s tax base and, in time, build the remaining approximately 60,000 square feet of already permitted space within MarketStreet.  What we will not be able to do without the development of the theater is provide a smart signal system, ramp improvements, additional parking or make a major contribution to Lynnfield’s park improvements.

Thank you to those in Lynnfield who gave us their time and attention overt the last few months.  We look forward to continuing our partnership with the Town for many more years.

 

Ted Tye
Managing Partner
617-559-5050
tye@natdev.com
 

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