WATERTOWN — Developer Michael Lundy plans to sit down with city officials in the next couple of weeks to talk about how he wants to redevelop the old Medical Arts Building property on Clinton Street.
In 2017, Mr. Lundy purchased the property, with plans to renovate the two structures into a $14 million professional office building.
He began preparing the site for his project when the Watertown YMCA expressed interest in the property for its $16 million aquatics, racquet sport and wellness center project.
Since then, Y officials learned the site did not qualify for two crucial federal tax credit programs, so the two buildings continue to sit with nothing happening.
“I’m not going to let it sit idle much longer,” Mr. Lundy said Monday night after meeting with the City Council about his plans for the Watertown Golf Club.
His original concept for the Medical Arts Building project may change or not.
The developer is looking at a few unspecified “options” for the property and intends to discuss them with city officials within about two weeks.
“It’s absolutely a great location, absolutely a great piece of property,” he said.
Ten months after acquiring the property, he put the office building project on hold before Y officials approached him about using the property for the 55,000- to 70,000-square-foot aquatics center.
When he first proposed his project two years ago, plans called for medical-related offices, featuring a two-story glass atrium at the back of the building and retail and food-service businesses.
Mr. Lundy said the property remains viable to redevelop, which is nearly 3 acres in size and within proximity to a growing downtown.
Before Monday night’s City Council work session, Mr. Lundy approached Michael A. Lumbis, the city’s planning and community development director, to tell him that he plans to set up a meeting with the city.
Depending on the plans for the project, Mr. Lundy might not have to go through with the site plans process again, Mr. Lumbis said.
If the project remains basically the same, the original site plans approved in 2017 can be used, Mr. Lumbis said.
Now that he’s planning to proceed with redeveloping the site, Mr. Lundy can keep construction fencing up at the site. In April, the city directed him to take down the fence if he had no plans for the property.
The city’s code enforcement office said Mr. Lundy approached staff members several weeks ago about what he might to do with the property.