LYNN — Construction is underway on a $2.4 million mixed-use housing development on Andrew Street.
Zachary Andrews, a Swampscott developer, said he is constructing a five-story, 36-unit apartment building with ground-floor commercial space, which is expected to be completed in two years.
The developer is unsure whether the apartments would be market-rate or have an affordable component. Andrews said he was drawn to build in Lynn because he has other residential properties in the city.
He purchased the land at 38-44 Andrew St. from American By Products Inc. for $260,000 last February, according to land records. It was previously used by the local recycling company, American By Products, which relocated to Alley Street, according to a letter to the city from Sam Vitali, Andrews’ attorney.
Andrews received approval from the Site Plan Review Committee and pulled building permits for the project. For the latter, he paid $38,560 in fees, according to city records.
“It’s a $2.5 million investment in downtown Lynn,” said James Cowdell, Economic Development and Industrial Corporation of Lynn executive director. “Another sign that the investment community is investing in Lynn.”
Last month, Andrews spoke in opposition to a future pot shop that will be located on Oxford Street, following City Council approval. Natural Selections received its special permit in January to operate at 193 Oxford St., next to the Blue Ox.
Andrews said his development would be directly behind the future facility, and the future shop would bring more gridlock to the area and the parking situation would be horrendous.
Vitali could not immediately be reached for comment.