It appears there will soon be one less empty storefront on Leonard Street.
Demetrius Spaneas, president of Land & Sea Real Estate of Andover, recently confirmed that 60 Leonard St. has been sold to Dr. Emma Wu, a dentist in North Andover.
The property was formerly home to a CVS. Wu paid $3 million for the property, Spaneas said.
In an email to the Belmont Voice, Spaneas stated that half the building will be used as a dental office, and the other half will house up to three retail spaces, depending on the size and needs of tenants.
According to the website for Dr. Emma Wu & Associates, Wu specializes in general, implant, cosmetic and restorative dentistry.
She did not respond to requests for comment on when work will commence.
Select Board Chair Elizabeth Dionne sees the sale as a win-win for residents and other businesses, bringing a much-needed service to Belmont Center as well as turning the property over to a local owner rather than an out-of-state developer.
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“I think it’s nothing but positive,” she said. “It’s good for the business owner, good for the residents in terms of amenities, and good for the town in terms of increased tax revenue.”
Empty storefronts in the center shopping district have been an issue for years, Dionne said, and residents have indicated their concerns about a lack of services.
“Residents have told us repeatedly about their concerns about Belmont Center, and it’s not just empty storefronts. Residents want amenities there,” she said. “It’s also bad for town finances to have a lot of empty storefronts. It’s bad for businesses because they’re not generating foot traffic.”
Studies conducted over the past 17 years have shown residents want a thriving, vibrant shopping area. Dionne said one of the issues facing development is balancing density with the charm of the shopping district.
“You’ve got to have a certain degree of density just to have a positive growth spiral. And yet, what people value about the center is this community feel, this historic feel,” she said. “I think good design can get us over that hump.”
Dionne said she would like to see businesses designed with two stories in front with a third story in back to add density yet avoid a “concrete canyon” along Leonard Street.
“You keep the historic and design elements that you want but you get the density that you need to make a success,” she said.
Ideally, Dionne said, the new owner at 60 Leonard St. would develop the property to “go up two and a half stories” to add “more options for residents and more tax revenue.”
“If she develops what’s there right now, that’s great. That’s certainly an improvement. Anything is better than nothing, but there’s good, better, best and we would like to get from better to best,” Dionne said. “It might be worth waiting to develop, if at the end of the day, she can fill up something that’s better for her and better for the town.”
Editor’s Note: This story has been updated to correct the address to 60 Leonard St.
