Town of Wayland Officially Closes Settlement with Twenty Wayland LLC

Posted by the Town of Wayland:

The Select Board announces that the Town of Wayland has officially finalized all necessary steps related to the settlement with Twenty Wayland LLC, regarding the development agreement dating to 2006 for the Wayland Town Center mixed-use plaza.

Steps included the recording of all necessary deeds, which now makes the Town of Wayland owners of eight parcels, totaling 24 acres, on the western edge of the Wayland Town Center in the area of 400-440 Boston Post Road. The deeds were finalized last month.

About half of this land will be designated for municipal use, while the other half will be designated for conservation. The Town will renovate an existing building on the land to create a new Council on Aging and Community Center Space following approval at Annual Town Meeting last month.

“The Select Board is pleased to bring this settlement to a close and secure these multi-acre parcels for both conservation and community gathering uses,” Select Board Chair Cherry Karlson said. “This has been a multi-year effort involving many prior Select Board members, and I would like to thank all those who helped complete the effort, including Twenty Wayland LLC for negotiating in good faith. We look forward to using this land to benefit residents and community members.”

The Town originally entered a development agreement with Twenty Wayland LLC in March 2006 for the mixed-use property to be used for the Wayland Town Center plaza on Boston Post Road. In 2015, Twenty Wayland LLC sold the retail portion of the Wayland Town Center, but retained ownership of the eight other parcels.

The Town continued its relationship after the sale with Twenty Wayland LLC per the terms of the development agreement, and entered settlement discussions in 2015. The Board of Selectmen entered into an agreement with Twenty Wayland LLC in 2018, but it was not finalized due to title concerns.

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