Revere Infill and Small Developments

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MassHousing Provides $4.6 Million in Financing for 71 New Mixed-Income Homeownership Opportunities in Revere ​

“BOSTON – MassHousing will provide $4.6 million in financing through the CommonWealth Builder Program to Broadway Capital Inc. to develop 71 new mixed-income condominiums for sale in the Gateway City of Revere. The MassHousing funding will create 18 new homeownership opportunities for moderate-income first-time homebuyers.  

Broadway Capital Inc. has commenced construction and will transform a former four-story assisted living community on Salem Street into a new residential community that will also include 1,415 square feet of commercial space. Six of the new homes will be sold to first-time homebuyers earning up to 70 percent of the Area Median Income (AMI) and 12 homes will be sold to homebuyers earning up to 80 percent of AMI. The remaining 53 condos will be sold at market rates. Construction is expected to be completed in June. 

“MassHousing is excited to be part of this project that is going to create homeownership opportunities for 71 households in Revere,” said MassHousing CEO Chrystal Kornegay. “As homeowners, they will begin to build equity and wealth, which they one day may pass along to a new generation. We are pleased that CommonWealth Builder will help build these new homes, with all the benefits homeownership can bring.” 

https://bostonrealestatetimes.com/m...income-homeownership-opportunities-in-revere/

 

[Javier]

Millcreek

 

[Javier]

 

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Next up on the docket was a continuation of the hearing for an NOI for the property at the former Lee Trailer Park at 2, 12, & 16 Pratt Street/418 Winthrop Ave., where the developer, Parkway Homes, LLC, is proposing a new residential development of 250 units.

The members took up a request for an extension for the project at 459-463 Revere Beach Boulevard by the developer, KQ & Sons LLC. Peter Blaisdell, the project engineer, said that an Order of Conditions (OOC) was issued on May 5, 2021, but there has been no activity on the site because of ongoing permit delays with the DCR and MEPA. Blaisdell noted that the project has been in development since 2017 and has been through many city boards and state agencies during that time.

There presently are three structures on the 25,000 sq. ft. lot and the developer wants to tear those down and construct a 10-story building with 59 units, including a restaurant on the top floor, The project will feature a stacked parking system for 90 spaces.

ConsComm Further Delays Vote on Former Trailer Park; Takes Up Wonderland Site | Revere Journal

The Revere Conservation Commission (ConsComm) held its regular monthly meeting last Wednesday evening (April 3) in the City Council Chamber. Vice-chair Nick Rudolph presided over the session that was attended by members Joseph LaValle, Samantha Woodman, Brian Averback, and Wilson Correa. The...

reverejournal.com

 

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The Massachusetts School Building Authority Board is expected to vote on the grant approval of the new Revere High School building at Wonderland at its April 24 meeting.

If the project is approved by the MSBA, it would then come back to the city council for several votes in May, including a potential May 20 vote on the debt authorization for the new four-story high school, which is expected to have a $522 million price tag.

MSBA To Vote on High School Project By Month’s End | Revere Journal

By Adam Swift The Massachusetts School Building Authority Board is expected to vote on the grant approval of the new Revere High School building at Wonderland at its April 24 meeting. If the project is approved by the MSBA, it would then come back to the city council for several votes in May...

reverejournal.com

 

[Javier]