MG2 Development submitted a plan to the Boston Planning Department on Oct 16, 2026 to replace a car‑rental lot and billboard at 295 Waldemar Avenue in East Boston with a five‑story building that would contain 35 residential units and 18 ground‑floor parking spaces.

The proposed site sits at the junction of Waldemar Avenue and Route 1A, positioned between the ongoing Suffolk Downs redevelopment project and the Irving gas tanks to the north.