The redevelopment of Suffolk Downs, the former horse racing track located in East Boston and Revere, is one of the most ambitious real estate projects in Massachusetts’ history.
\Spanning across 161 acres, the project is transforming the site into a vibrant mixed-use neighborhood. With an estimated construction cost in the billions, Suffolk Downs is set to deliver 16.2 million square feet of space, creating a modern hub that blends residential, commercial, and recreational areas.
Key Players Behind the Development
Developers:
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The HYM Investment Group
The primary developer behind the project, The HYM Investment Group, is responsible for the master planning and overall project execution. -
Cathexis
A key partner in the development, providing strategic insights and financial backing. -
National Real Estate Advisors
Another prominent partner, National Real Estate Advisors brings significant investment and financial expertise to ensure the timely delivery of residential components.
Architects and Design Firms:
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CBT
The architecture firm CBT is responsible for much of the design work on the site, including planning the mixed-use layout, residential buildings, and life sciences spaces. -
Stoss
Known for their landscape architecture, Stoss plays a crucial role in designing the extensive open spaces and integrating the site’s natural elements. -
Beals + Thomas
A landscape architecture and environmental design firm that collaborates with Stoss to ensure sustainability and community-friendly spaces. -
VHB
An engineering firm focused on transportation planning, VHB is instrumental in ensuring the project aligns with local transportation goals, particularly improvements to the MBTA Blue Line and internal bike path networks. -
Arup
This global engineering firm contributes with its expertise in sustainable design and environmental solutions to meet Boston’s goal of net-zero emissions by 2050.
General Contractors:
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John Moriarty & Associates
The general contractor responsible for constructing the first residential and life science buildings, including Amaya and 100 Salt Street. -
Suffolk Construction
Suffolk Construction is a key player in building out the large-scale infrastructure and other development components at Suffolk Downs.
Brokers and Leasing Agents:
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JLL (Jones Lang Lasalle)
JLL is working as the project’s real estate broker, handling leasing and sales efforts for both the residential and commercial spaces within the development. -
CBRE
Another major brokerage involved, CBRE plays a pivotal role in marketing the office and retail space to potential tenants.
Project Scope and Timeline
The redevelopment of Suffolk Downs is set to create one of the largest urban transformations in the Boston area. The project will be delivered in multiple phases over the next two decades, with a focus on sustainable development and community integration.
Key Milestones:
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Groundbreaking: The project officially broke ground in May 2022.
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Amaya Building: The first residential component, Amaya, is a 475-unit apartment building. Scheduled for completion by mid-2024, this project will include amenities like a fitness center, rooftop terraces, and 24,000 square feet of ground-floor retail space.
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100 Salt Street: A 280,000-square-foot life science and biomanufacturing facility adjacent to the MBTA Beachmont Station. Set for completion by the end of 2023, it will house laboratories, manufacturing floors, and retail spaces.
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Future Phases: Over the next several years, additional residential buildings, office space, and community amenities will be constructed, bringing the total residential units to 10,000 and the commercial space to over 5 million square feet.
Financial Impact and Community Benefits
The Suffolk Downs redevelopment is projected to generate an estimated $10 billion in total investment, making it one of the most financially significant projects in the region. Beyond its size and scope, the development will bring substantial benefits to the surrounding communities:
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Job Creation: Suffolk Downs is expected to generate 22,000 permanent jobs in life sciences, manufacturing, and retail sectors, along with an estimated 18,000 construction jobs over the next 20 years.
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Affordable Housing: The project includes provisions for 20% affordable housing, amounting to approximately 930 units on-site and 500 off-site.
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Transportation and Connectivity: The project will enhance local transportation infrastructure, including major improvements to the MBTA Blue Line and bus stations. Additionally, bike paths and walking trails will be integrated into the development, making the neighborhood more accessible.
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Public Open Spaces: 40 acres of public parks and recreational areas are planned, offering green space for residents and visitors. These spaces will be designed to complement the area’s wetlands, Revere Beach, and Belle Isle Marsh.
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Sustainability and Resilience: The project is designed to exceed energy efficiency standards and LEED certification requirements, helping the city meet its ambitious environmental goals for 2050.
Looking Forward
As construction continues, Suffolk Downs is poised to become a significant urban destination in Boston and its surrounding areas. With a mix of residential units, commercial office space, life sciences facilities, and expansive public spaces, the project will offer a dynamic live-work environment that fosters economic growth, community engagement, and sustainability.
This massive redevelopment, being shaped by a diverse group of developers, architects, engineers, and contractors, is set to create a lasting legacy in the Boston area, one that will be felt for generations.
