Project facts in this post are current as of August 27, 2026. Permit status will move this fall, so treat the details here as due for review by February 2027.
The biggest housing project in Newton's pipeline is being rebuilt behind the scenes. Mark Development is bringing in two national partners to finance Riverside, the roughly 753 unit development approved at the Riverside MBTA station last December, and the plan itself is shrinking in the process. Here is what changed, what has to happen by March 2027, and what it means if you own property nearby.
- Mark Development is restructuring Newton's Riverside project, with Greystar taking over as lead developer and Harbert South Bay building the senior housing, as reported by Fig City News on August 18, 2026.
- Newton's City Council approved the Riverside plan on December 1, 2025 with roughly 753 apartments, 20 percent of them affordable, according to Fig City News coverage of the vote.
- The MBTA's terms for the site set a Phase 1 permitting deadline of August 31, 2026 and a Phase 2 permitting deadline of August 31, 2028, per Newton Beacon reporting from August 2024.
- Mark Development's own project site, riversideupdate.com, still describes the version formally approved in fall 2021: 550 housing units plus two life science buildings that never broke ground.
What Changed at Riverside in August 2026
Riverside is getting two new developers. Greystar, the national apartment giant, would take over as lead developer and build the site infrastructure plus Buildings 1 and 6, Harbert South Bay would build the two senior housing buildings, and Mark Development would stay on to build Buildings 4 and 5 itself.
The reason is money. Mark Development spent months restructuring the deal to get the project financeable, and CEO Robert Korff told Fig City News the process "was not easy to do." Large multifamily projects across Greater Boston have stalled at exactly this stage, fully approved but unable to close construction financing, so bringing in partners with deep balance sheets is what moves Riverside from paper to shovels.
Newton officials have so far read the change as positive. Councilor Randy Block called the Greystar partnership "a great improvement" and described the design revisions as moving in the right direction. The new team still needs the city's blessing, which is the fall's main event.
What Newton Approved in December 2025, and How Long This Took
The approved plan is roughly 753 apartments with ground floor retail next to the Riverside Green Line terminus, and the December 1, 2025 council vote was itself a rescue of a much older plan. Roughly 545 units sit in Phase 1 and about 210 more in a second phase, with 20 percent of units affordable and a projected 1,200 to 1,600 future residents.
The history explains the urgency. The project was formally approved in fall 2021 as 550 housing units plus two life science buildings, and that version never broke ground; the developer's own update site still describes it. When the lab market died, Mark Development went back to the MBTA, and in August 2024 the T's board approved a residential focused two phase plan in its place.
The December 2025 approval also locked in the public side of the ledger: about $7 million in mitigation and off site improvements, plus up to $500,000 toward Newton's public safety radio system. Those commitments carry forward into the amended plan now taking shape.
What the New Partners Want to Change
The revision on the table cuts 55 to 75 apartments from the approved count and rebuilds the senior housing in steel and concrete. The two senior buildings, which Harbert South Bay would own and operate, drop from 353 units to roughly 267, and their height rises from 52 feet to 59 feet, still inside the 60 foot zoning limit.
The garage shrinks with the unit count, losing two floors and landing around 720 spaces instead of the 980 planned. A loop drive comes out of the site plan in favor of a drop off area beneath the senior buildings, the playground moves to a larger stretch of green space, and the ground floor retail stays as approved.
None of this is final. The changes require an amended special permit from the City Council, the Riverside Liaison Committee takes it up in mid September, and updated renderings are expected this fall. If you want to weigh in as a neighbor or an owner nearby, this fall is the window.
The Deadlines That Make This Real
The forcing function is the MBTA's ground lease: under the agreement, construction has to start by March 2027. The partners are working to complete the zoning review around September 1, 2026, which lines up with the Phase 1 permitting deadline of August 31, 2026 that the T set when its board approved the residential plan in 2024.
The lease terms also require the second phase to be permitted by August 31, 2028 and preserve 650 commuter parking spaces for the station. That structure is why this restructuring reads differently from the project's earlier false starts. Riverside has had approvals before. What it has not had is a construction lender, a lead builder of Greystar's scale, and a contractual start date all pointing at the same six month window.
What This Means If You Own Property Near Riverside
For owners in Auburndale, Lower Falls, and West Newton, the question stops being whether Riverside happens and becomes when construction starts and what roughly 700 new households do to the local market. On the rental side, a delivery this size lands hardest at the top of the market first. New Class A buildings compete on amenities, so older units nearby hold up best competing on price, condition, and location rather than matching finishes.
The senior housing is the quieter story. Around 267 purpose built senior units would give long held Newton owners an actual local landing spot, and that is the mechanism that frees up single family inventory in a town where downsizers have had almost nowhere to go. If you have owned in Newton for decades and stayed put partly for lack of options, this pipeline is worth watching by name.
Worth being precise about one thing: Riverside is a special permit project on leased MBTA land, separate from Newton's MBTA Communities Act compliance, which runs through the Village Center Overlay District. The two often get lumped together, and they move on different rules and different timelines. For the zoning side of that picture, start with our MBTA 3A zoning hub and our breakdown of what transit oriented zoning has meant for property values.
Construction itself will be a factor on Grove Street for years once it starts. If you own on that corridor, plan leases and any sale timing with the buildout in mind rather than reacting to it after the excavators show up.
Frequently Asked Questions About Newton's Riverside Project
Who is developing the Riverside project in Newton now?
Under the restructuring reported in August 2026, Greystar would become lead developer and build the infrastructure plus Buildings 1 and 6, Harbert South Bay would build the two senior housing buildings, and Mark Development would remain to build Buildings 4 and 5.
How many apartments will the Riverside project in Newton have?
Newton's City Council approved roughly 753 apartments in December 2025, and the revision proposed in August 2026 would trim 55 to 75 units, with the final count set when the council acts on the amended special permit.
When does construction start at Riverside Station in Newton?
The agreement with the MBTA requires construction to start by March 2027, and the development partners have been working to complete the zoning review around September 1, 2026.
Is the Riverside project part of Newton's MBTA 3A zoning?
No, Riverside is a special permit development on land leased from the MBTA, while Newton's MBTA Communities Act compliance runs separately through the Village Center Overlay District zoning adopted by the City Council.
Will the Riverside project include senior housing?
Yes, Buildings 2 and 3 are planned as senior housing built and operated by Harbert South Bay, at roughly 267 units under the August 2026 proposal, down from the 353 in the approved plan.
Will Riverside Station keep commuter parking?
Yes, the MBTA's terms preserve 650 commuter parking spaces at the station, and the proposed garage would hold around 720 spaces total, two floors shorter than the 980 space garage previously planned.
PH Realty Group works with owners, landlords, and investors across Newton, Watertown, Waltham, and the surrounding towns, and we track projects like Riverside because they change the math for the streets around them. If you own near Riverside and want to talk through timing, rents, or what your property is worth as this moves, reach out to PH Realty Group.
