Recently, there has been a fair amount of press coverage regarding the Market and Main project at the former Macy’s site in Bedford. As the developers of the project, we think it is our responsibility to inform you about our progress to date.
We are Encore Enterprises and over our 20 years in the commercial real estate business we have built a reputation for successful retail and mixed-use development in big cities, small towns and everything in between. We were drawn to Bedford because we see great potential for a quality, family-friendly entertainment and shopping experience. We believe these will add to the economic, aesthetic and quality of life experience for all residents in Bedford. That remains our goal and our commitment.
Since we first introduced the project, retailer conditions have changed, which required our concept to be re-envisioned. But that has not changed our commitment to the project or our belief in being collaborative partners with the town.
To date, we have successfully completed Phase I of the project which includes Trader Joe’s, which has enjoyed incredible success and The Friendly Toast, which has fast become a family favorite.
As we move forward with Phase II, we have made some modifications which include mixed retail, entertainment, a hotel and luxury residential offerings which require approval by the town’s planning board.
We want to reaffirm our commitment to ensuring that Market and Main remains a complement to everything special about Bedford and that it can be a source of pride for residents.
Recently, there had been inquiries regarding the type of retailers that could be expected to open following the development of Phase II. After showing some of the potential tenants that had expressed an interest in Market and Main, there was miscommunication regarding the status of these potential tenants which resulted in their names being inadvertently released to the public. This understandably upset those businesses and caused confusion about the project.
We take full responsibility and have reached out directly to those businesses and the town and apologized.
Since our initial appearances before the planning board, we have incorporated feedback from town officials and listened carefully to residents and business owners in an effort to improve this project.
This includes incorporating additional green space, a walking trail, a dog park, access to public transportation, and enhanced architectural treatments to be more in keeping with the aesthetic value of Bedford. These improvements come in addition to the $1 million in roadway and infrastructure improvements to South River Road and Meetinghouse Road soon to be completed.
We appreciate and understand Bedford residents wanting to ensure that this project continues to be of high quality and that it will provide the best economic benefit, aesthetics and lifestyle experience. As a gateway project to our community, we share the same desires and assure you that it will meet those standards.
If you enjoy Trader Joe’s and The Friendly Toast, you are going to love what is coming next. In the coming weeks we will be making some major announcements about tenants and our plans to make certain Market and Main remains thoughtful, respectful and complementary to everything that is special about this town. We believe Bedford deserves nothing less.
The Encore Team