COURTESY PHOTO
Pictured is a rendering for the $100 million development planned for transforming the Hilltop Steak House site.
By BRIDGET TURCOTTE
SAUGUS — The Planning Board could sign off on AvalonBay Communities’ vision for the former Hilltop Steak House site at a meeting in two weeks.
The Virginia-based real estate investment trust presented a Master Plan to the board on Thursday night and will return on Feb. 16 for approval.
The plan represents a detailed vision for reusing the former Hilltop site and it is one of several proposed developments that have the potential to reshape Route 1’s appearance
A peer review consultant will be hired to critique the project before the plan is signed off.
The $100 million development includes 280 apartments in three buildings at the rear of the property and about 24,000 square feet of retail space in front.
Not only will the company need the board to approve a conceptual Master Plan, it will also need to submit a Site Plan Review detailing the property’s infrastructure before any work can begin. Once the project gains all necessary approvals, it is expected to be completed in two years.
In January, AvalonBay presented plans that include parking throughout and a parking garage at the back for the former site of the 52-year-old landmark family restaurant, which closed in 2013.
The apartment buildings are configured to form a landscaped courtyard between them with outdoor amenities including a pool, grilling stations, outdoor fireplaces and dog parks, according to Michael Roberts, AvalonBay senior vice-president of development.
There will be 16 studio, 122 one-bedroom and 142 two-bedroom apartments. Ten percent of the units will be affordable.
Each will have a modern kitchen with stainless steel appliances, granite countertops and open-concept living space. Each will be equipped with a washer and dryer, a walk-in closet and a form of outdoor space — either a patio or balcony.
Both a full-service and fast-service restaurant will be on site, as well as businesses such as a dry cleaners, hair salon, coffee shop and pharmacy.
At Thursday night’s board meeting, Chairman Peter Rossetti, who represents High Country Investors, handed the meeting over to member Lawrence Shaver to avoid a conflict of interest.
High Country purchased the Hilltop property in 2004 for $10.1 million and subsequently sold the 14.2 acres to AvalonBay.
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Bridget Turcotte can be reached at [email protected]. Follow her on Twitter @BridgetTurcotte.