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Today, No Gateway Into Boston Is More Prominent Than One Mystic Avenue
Boston is a vital and growing city. However, it has relatively few areas suitable for new, high-density residential development. It is the second smallest major U.S. city in terms of land area after San Francisco (48 vs. 47 square miles). More than 50 percent of this land is both unavailable for development and tax-exempt because it is held in public or institutional ownership.
Some of the remaining lands are subject to historic district designations that preclude essentially all change. Other areas feature fine-grained existing residential fabric where new development can be very difficult to construct. Accordingly, several city-led planning initiatives have identified and prioritized those few areas that are perfectly suited for major redevelopments, such as the area around Sullivan Square.
The Project Site is located at a high-visibility entrance to the city, at the foot of the Mystic Avenue bridge crossing the Orange Line/Commuter Rail corridor. It is, therefore, the ideal location at which to kick off the long-anticipated transformation of Sullivan Square.
The Project Site is located in the Northern section of Charlestown near several transit, community, and commercial amenities. It is approximately 650 feet from the entrance of the MBTA Sullivan Square Station (a 3-minute walk), which is served by the Orange Line and 12 local bus routes connecting the Site to key areas of Boston, Cambridge, Somerville, and Everett.
These include The Financial District Back Bay; Downtown Crossing; Government Center; Nubian Square; the Longwood Medical Area; and Harvard, Central, Kendall, Union, Davis, and Assembly Squares. The Site is within 0.25 miles of Ryan Playground, Schrafft’s City Center and the East Somerville Neighborhood. Within 0.5 miles are Assembly Row, the Encore Casino, and the new Hood Park development.
To see and understand more about One Mystic Avenue click the following hot link:
http://www.bostonplans.org/projects/development-projects/one-mystic-avenue
The Sofia
Fulcrum Global Investors has received all local and state permits for "The Sofia," a 21-story, 620-unit luxury Class-A multifamily tower located at 380 2nd St, Everett, MA (Greater Boston). The project is centrally positioned within the Commercial Triangle Economic Zone, a high-growth 110-acre area situated between the Revere Beach Parkway, MBTA commuter rail tracks, and the Chelsea city line. "The Sofia" is ideally located near the MBTA Commuter Rail and steps from the future Silver Line T stop, providing future tenants with a non-stop 18-minute commute to Downtown Boston.
Greater Boston's tenant demographics are strong, including well-educated, higher-income households and a diversified workforce. Boston’s highly skilled workforce, coupled with land scarcity, increased affordability requirements, and a rigorous and unpredictable entitlement process, has resulted in a limited supply of new housing in the city's urban core. Due to its proximity to Boston, the Everett residential submarket has experienced strong rent growth, high tenant retention rates, and strong institutional investment.
