Image courtesy of The Architectural Team
A fourth large multifamily building planned for an industrial area just north of Boston is planned to break ground this summer after the permitted project was bought by major multifamily developer Greystar.
The company announced Tuesday that it had bought 85 Boston St. in Everett. With 650 units permitted across two 6-story buildings, Greystar’s development will be the second-largest yet built in the swath of scrap yards, warehouses and light manufacturing uses that stretch between downtown Chelsea and Revere Beach Parkway in Everett. The 85 Boston St. project itself will replace a 5.9-acre construction debris recycling facility.
The project joins Chelsea’s completed 222-unit One North development from Redgate and TransDel and under-construction, 692-unit Vero apartments from Fairfield Residential, plus Post Road Residential’s 286-unit Pioneer building. Several other large multifamily projects are also in permitting for the area, including a 21-story tower from a local development team.
The building will include 9,000 square feet of retail space, 759 parking spaces across two parking garages and two outdoor amenity spaces including pools. The project also includes 33 units designated for affordable housing. In addition to its close proximity to Route 1 and Revere Beach Parkway, the site is just blocks from a large Market Basket grocery store and a combined MBTA commuter rail and Silver Line stop.
