"Forest Park" is set to kick off with Quest Diagnostics as a major tenant of 200,000 square feet for a new laboratory facility in the proposed multi-use development.
The site is reporting that in addition to the 950 employees that will come to the site, they will be looking to hire an additional 240.
Marlborough officials will provide the company with a tax break on the cost of the improvements to the property over a 15-year period. The exact dollar amount of the tax deal has not been decided, according to Boston.com.
This marks the second large company to announce a move to the area following the decision by TJx to move to Marlborough.
Key to the "Forest Park" development is a mixed-use overlay district that will appear before the City Council The zoning change would allow for residential and retail in addition to the currently allowed industrial and commercial uses.
Once the entire site is built out, Developers Atlantic Management are saying it would mean $3 million in additional taxes for the city every year.