^^ A few other notes about how/why Everett is seeing so much new development:
- As of Right Zoning: Everett’s been very proactive about updating its zoning to accommodate new larger scale development ever since Wynn Resorts got the casino license.
- You know how in Boston there are Impact Advisory Groups, the Boston Civic Design Commission, Landmark Commission, Historic Commission, a million neighborhood groups, 13% affordable housing minimums, stringent DBE requirements, and variance requests for all new large-project developments that can draw out the approval process years (and dollars)? Everett doesn’t have these. Sky Everett, for example, had a 2-month approval process.
- A lot of the new development in Everett is in historically commercial and industrial areas. This makes it less disruptive to existing Everett residents, and is good for local businesses.
- Opportunity Zone: much of the new development in Everett is in a designated Opportunity Zone, meaning it’s much more favorable a location for large multi-family development tax-wise than other areas. It’s not an accident—this is all happening as planned.
-Timing: supply constraints in every municipality surrounding Everett the last decade coupled with regionally high housing demand has made Everett’s comparably low property values ripe for developer interest.