Jim Davis, the chairman of New Balance, has bought two properties next to the company's headquarters in Brighton, Massachusetts, reports The Boston Herald. The land, which cost $26.5 million, will be the site of a $235 million development including office buildings, a hotel, a movie theater, shops and a park. It would mean a new commuter rail station as well as a new exit off the Massachusetts Turnpike. The land was the center of a dispute in the town, as a big-box home improvement retailer, Lowe's, wanted to build a store there. However, the town was opposed to the idea because of worries about traffic, and concern that the new rail station wouldn't be built.

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