This week, the Boston Planning and Development Agency approved the $8 development of former racetrack Suffolk Downs by developers HYM Investment Group. The project, which the developer names, "the largest single creation of housing in Bosotn history," will include 10,000 units of housing and 3M square-feet of office and retail space, all on 161 acres.
The enormous project has been shaped after more than 450 design meetings with local groups and elected officials in East Boston and Revere; and is expected to be completed in 20 years.
The project will create an estimated 18,000 union construction jobs, including 22,000 permanent jobs.
We have a tremendous opportunity to create this new neighborhood from the ground up, and for Suffolk Downs to serve as a model of how to thoughtfully design a modern development with climate resiliency, transit access, housing, and public space in mind,” HYM Managing Director Thomas O’Brien said in a statement. “We look forward to moving ahead towards building a new future at Suffolk Downs, creating housing, improved transit, and jobs for residents and the Greater Boston community.”
930 new affordable housing units will be constructed on-site with an additional 500 affordable units off-site. a 40-acre open space system, making up 25% of the site, will incorporate existing wetland features and construct an approximately 15-acre common, landscaped amphitheater, and new recreation areas throughout.
Phase 1 of the project consists of 9 buildings plus an additional 7 townhome buildings. The architectural design of the Phase 1 project will achieve a balance of neighborhood cohesion, design diversity, and architectural quality that is imperative to creation of a successful mixed-use community with an authentic sense of place.
Commitments to Boston Parks & Recreation include 2.5 acres to be deeded to Boston including Orient Heights Park and Gateway Park and 3 acres of shared programming rights on key recreational fields. Commitments to recreational facilities include a 2.3 acre multipurpose field, 0.7 acre flexible field, 4 basketball courts, 3 tennis courts, 5 playgrounds and 5 bocce courts.
Two existing adjacent MBTA Blue Line Stations will be integrated into the project, and new bicycle path connections and Hubway stations will be added. The development is expected to be constructed in phases over a 15 to 20 year period, with construction likely to cost over $1 billion.
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