6/7/2017 - Mayor Arrigo's Update: Building a 21st Century Economy in Revere
June 9, 2017
In this week's update from Mayor Brian Arrigo, the Mayor gives updates on several important items pertaining to economic development in Revere:
-The NECCO property has been sold to Atlantic Management - a high-quality developer with a successful track record. Atlantic Management has committed to the City of Revere that the property will remain a 100% Commercial development. Atlantic Management's past successes include bringing GE Medical, the corporate offices of whole foods, and other corporate clients to an old HP factory in Marlborough. The City of Revere and Atlantic Management envision the NECCO property as being home to Massachusetts' industries of the future, such as robotics, biotech, and advanced manufacturing.
-The Suffolk Downs property has been sold to HYM Investment - another world-class developer. HYM's recent projects include the Allston Landing project, which brought the New Balance factory building, the Boston Bruins practice facility, and millions of dollars worth of economic activity to an underutilized site along the Mass Pike. The initial vision for the Suffolk Downs site is a mixed-use, transit-oriented development along the lines of Assembly Row. HYM and the City look forward to a robust process that will engage the community about the future of this important landmark.
-The Wonderland Dog Track will finally be demolished, with work beginning in the next few weeks. Ownership has pulled demolition permits to begin taking down the eyesore, and is working with the city on a plan to carry out the work.