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114-Unit Apartment Complex Breaks Ground in Revere

Nov 4, 2022 | Reprints | Unlock Link | Print

Image courtesy of Helge Capital

Construction of a 114-unit apartment complex is under way in a joint venture between multifamily developers Helge Capital and Gansett Ventures.

The seven-story SORA Revere complex at 93 Bennington St. received $42.5 million in construction financing from Needham Bank. Located a short walk from the MBTA’s Beachmont station, the project replaces nine vacant lots just east of the Suffolk Downs property. Rubicon is general contractor for the project, which is scheduled for completion in late 2024.

“The project revitalizes a long vacant and underutilized site, and will add employment, drive economic growth, and increase transit-oriented housing availability in the city,” Gansett Ventures CEO Caleb Manchester said in a statement.

Helge Capital and Gansett Ventures previously partnered on the 64-unit Mira condominium project at 301 Border St. in East Boston, which broke ground in 2020.

B&T Daily