EDC discusses ideas for revitalizing Route 20 corridor

The Select Board on Dec. 15 heard a presentation from the Economic Development Committee outlining illustrative strategies to expand Wayland’s tax base, with discussion focused on growth priorities, zoning tools and the fiscal risks of maintaining the status quo.
When asked by Select Board member Fay if a town-wide master plan was needed, Economic Development Committee Chair Rebecca Stanizzi responded, “A master plan basically is a guiding document, but when’s the last time you looked at the master plan done 20 years ago? Do we want to have Route 20 looking exactly the way it looks for the next 10 years, or the next three or four years, while we do a master plan? Probably not. There are certain things that you would do [sooner]. Can they run in parallel? Absolutely. Would you wait until it’s completely done? No. We need to figure out how we want to grow and we have some good opportunities that are coming up.”
Stanizzi said Wayland’s commercial tax base represents 2.8% of total assessed value in FY2025, compared with 95% residential, limiting the town’s ability to generate new revenue without increasing residential taxes.
Stanizzi pointed to the River’s Edge/Alta Oxbow development as a case study in high-value, relatively low-impact growth. Committee figures showed the project added $72.8 million to the tax base in FY2024 and generated about $1.1 million per year in property tax revenue.
Net cash proceeds to the town were estimated at $2.7 million, with an additional $800,000 in building permit fees and $4.2 million in MassWorks grants, after roughly $6 million in site cleanup by Wood Partners. Alta Oxbow sold in 2024 for $98.4 million, a transaction Stanizzi said could result in a higher future assessment, though cautioning reassessments do not always match sale prices.
Townhomes were pointed out as a significant but often overlooked driver of local revenue. Stanizzi compared the combined assessed value of developments such as River Trail Place and Wayland Commons to the entire commercial tax base, citing high value per acre and relatively low municipal service costs, particularly lower school enrollment. She suggested reducing permitting barriers for townhomes, potentially allowing them as-of-right under defined conditions, and focusing on a small number of suitable locations over a three- to five-year period.
904 new housing units allowed
MBTA Communities zoning was presented as another high-impact tool. Stanizzi noted that Town Meeting-approved zoning allows for about 904 units across four districts, exceeding the state minimum of 750 units. Committee estimates showed that, if fully built out, unbuilt portions of this zoning could yield $4 million to $5 million per year in new tax revenue, with about $2.9 million identified as potential lost opportunity tied to inactive or constrained districts, including deed restrictions at Town Center and Mainstone. She emphasized that the slide deck figures presented were for discussion purposes only.
The EDC also reported that they had been in talks with the Finance Committee about their goal for developing a masterplan for the Route 20 corridor. Select Board member Tom Fay later presented a draft/proposed charge for a Route 20 Task Force however the Board decided to ask the Planning Board if they would consider a joint task force by the next meeting.