The first residential building in the Suffolk Downs redevelopment project in Revere is officially open.
A grand opening ceremony was held for the eight-story Amaya building, bringing the first 475 residential units to the project.
Once complete, the 16-million-square-foot project is expected to bring upward of 10,000 condominiums and apartments to the former thoroughbred horse racing facility, which closed Oct. 4, 2014.
From left to right: Kevin Smith (Ullico), Patrick Reilly (National Real Estate Advisors), Megan Zuchowski (National Real Estate Advisors), Terrence Ahoua (National Real Estate Advisors), Mike Fenner (National Real Estate Advisors), Mayor of Revere Patrick M. Keefe, Revere City Councillor Joanne McKenna, Thomas N. O’Brien (CEO & Managing Partner of the HYM Investment Group), Doug Manz (Partner, HYM), Paul Crisalli (Partner, HYM), John Hurley (Partner, HYM)
The 161 acre Suffolk Downs site was purchased by HYM Investment Group in 2017 for $155 million. It’s located at 525 William F. McClellan Highway and includes approximately 109 acres in East Boston and 52 acres in Revere. HYM envisioned reconnecting the two neighborhoods with the multi-phase, mixed-use redevelopment, which will include 40 acres of publicly accessible open space and two retail squares, as well as offices, lab space, hotels and other amenities.
“With the grand opening of Amaya, we are celebrating the realization of the vision of Suffolk Downs, and we’re excited to officially deliver the first residential building to the site,” said Thomas N. O’Brien, managing partner and chief executive officer of HYM at the grand opening.
“Amaya represents a milestone in the vibrant, dynamic community of Beachmont Square. From modern residences with extensive amenities and lively retail offerings, Amaya exemplifies high-quality living and we look forward to celebrating with residents and guests alike at today’s grand opening.”
Amaya is located in the Beachwood Square neighborhood and includes more than 34,000 square feet of state of the art amenities for residents, as well as 24,000 square feet of ground-floor retail space. It’s also close to The Track at Suffolk Downs and The Stage at Suffolk Downs where community events and concerts are hosted.
Residents will benefit from the nearby MBTA’s Beachmont Square Blue Line station and easy access to downtown Boston and Logan Airport. The units are a mix of studios, one-bedroom and two bedroom units. The amenities include a 3,000-square-foot, state-of-the-art fitness center, two outdoor courtyards with a swimming pool, a pizza oven, grilling stations and an outdoor Shred Shed. There are also lounge areas with work-from-home spaces, pet-friendly living options and an in-building parking garage.
The ground-floor retail space will be anchored by Amaya’s first retail tenant, Twisted Fate Brewing, a Massachusetts-based, family-and-majority-female-owned nanobrewery.
“The Suffolk Downs development represents a transformative opportunity for Revere and its surroundings: It is a signal towards the growth and ambition we have chosen to embrace. When we look at Amaya, we see the first steps toward creating a dynamic community hub that is both accessible and inclusive: It is a vision that serves all of us,” said Revere Mayor Patrick J. Keefe.
The Suffolk Downs redevelopment project was greenlit by the Boston Planning & Development Agency in September 2020 and is expected to be developed in two phases over a 20-year span.
The first phase of the project will consist of 1.39 million square feet of development, including three residential buildings and townhomes proposed along Waldemar Avenue totaling more than 800 housing units, as well as construction of the Horseshoe Pond landscaped wetland enhancements and Belle Isle Square public plaza, which will include more than 100,000 square feet of ground-floor retail.