Exploring New East Boston Developments – Part 2

In this second of a two-part series on new developments in East Boston, we will explore some additional developments that are coming to the area.

Boston East

Developed by Trinity Financial, the $71 million Boston East Project located at 186 Border Street is bringing 200 units to the area. While 174 of the units will be market rate, the other 26 are designated as affordable with six of them being artist live-work apartments. Amenities include a dog spa, a kayak and paddleboard launch, a concierge, a fitness center, a Hubway dock, quick access to the Harborwalk and Zipcar spots on site.

Pre-leasing is already underway, with the official opening expected to occur in December. Studios start at around $2,000 per month, while one-bedrooms start at around $2,200 and two-bedrooms at $3,000. Three-bedrooms start at around $4,800, while numerous lofts of various sizes start at around $2,400.

Clippership Wharf

Situated on a 12-acre parcel of land at 65 Lewis Street Clippership Wharf will offer 478 residential units. Developed by Lendlease, the complex will include ground-floor commercial space, off-street parking for 295 to 308 vehicles, and public facilities. The complex is expected to open in late 2018. The 80-unit condo component of the development, which is located at the same address but named Slip65, started sales in early June and sold out in just 8 weeks.

Everett Street Residences

The four-story residential complex of Everett Street Residences received approval from the city in late June. Developed by K&K Development, the complex will boast 19 condos and 21 garaged parking spaces. Thirteen of the units will be two-bedroom, while six will have one bedroom. Two of the units will also be designated as affordable.

Maverick Shipyard

The 23-unit apartment complex of Maverick Shipyard received approval from the city in July 2016, but construction has yet to get underway. Located at 202 Maverick Street. The development is slated to have 20 parking space and three affordable units.

Suffolk Downs

The former 161-acre Suffolk Downs racetrack may soon become the site of one of the largest developments in Boston’s recent history. In fact, there is a possibility that the property may soon serve as the home to Amazon’s second headquarters.

The old Suffolk Downs racetrack has a long history of potential redevelopments that have not come to fruition. At one point, it was the leading contender to host a casino-resort that was ultimately constructed in Everett. Since being passed over for this development in 2014, however, the property has been barely operational and has hosted only a handful of events. Earlier this year, things seemed to have turned around for the property after the development firm HYM Investment Group contracted to purchase the property.

The deal with HYM, which has been involved in many of Boston’s large-scale developments including Brighton’s Boston Landing and Cambridge’s NorthPoint, has helped to renew interest in the property. With HYM at the help, it is likely the development, which is located at 11 Waldemar Avenue, will feature a mixture of housing and retail establishments.

The Residences at 245 Sumner Street

The four-story apartment complex on Sumner Street is expected to open soon, with construction nearing completion. The new development offers 34 units, with market-rate rents starting at $2,400 per month. The building also boasts 2,257-square-feet of ground-floor retail space along with a 34-spot underground garage.

 

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