Image courtesy of JLL
The Davis Cos.’ redevelopment plans for the 95-acre Everett ExxonMobil tank farm property include a multi-million-square-foot mix of multifamily housing, warehousing and advanced manufacturing.
The Boston-based developer plans a residential development on the northern section of the site near Sweetser Circle, and commercial space including warehouse and advanced manufacturing on the center of the site near Beacham Street, according to a presentation to Everett city councilors last week.
Everett Director of Planning and Development Matthew Lattanzi said Davis Cos. presented two potential development scenarios, including an initial feasibility plan based upon existing zoning that totals 2.4 million square feet: 980,000 square feet of multifamily housing, 350,000 square feet of industrial space and 1 million square feet of high-tech manufacturing, along with 45,000 square feet of retail.
A second plan would total 4.2 million square feet of development, including 1.7 million square feet of housing, 1.4 million square feet of lab/R&D space, 780,000 square feet of manufacturing and 57,000 square feet of retail.
Redevelopment of the site will require approval of tax incentives to offset environmental costs and infrastructure, and rezoning for additional height above the existing 45-foot limit, Davis Cos. Chief Development Officer Michael Cantalupa told councilors.
Everett Mayor Carlo DeMaria has stated his support for public transit upgrades related to the development of the property and potential plans by The Kraft Group for a professional soccer stadium at the nearby Constellation Energy power plant, which shuts down in 2024.
DeMaria told The Boston Globe he hopes the Davis Cos. proposal will prompt state transportation officials to support new transit stops in the transforming one-time industrial waterfront district.
