Photo: Chaiel Schaffel/WBZ NewsRadio
REVERE, Mass. (WBZ NewsRadio) — The Suffolk Downs racetrack redevelopment project opens its first residential apartment building, Amaya, on Tuesday.
The eight-story residence, located right across the Beachmont Square station on the MBTA Blue Line, will include 475 units of housing. The building offers studios to two-bedroom apartments starting at $2,280 per month. As of now, about 300 apartments are built and around 150 have been rented out.
From an out-door grill space to a state-of-the-art fitness center, completes phase one of two in the long term redevelopment project.
“We want this building to be a building to attract a group of younger people,” HYM Investment Group CEO Thomas O’Brien told WBZ NewsRadio.
The Suffolk Downs racetrack closed in 2017, and Revere Mayor Patrick J. Keefe said that the empty space gave them the potential to think big.
“We just noticed the entire industry that really helped support Revere’s commercial infrastructure was starting the fail,” Mayor Keefe told WBZ NewsRadio, adding that the completion of the project is estimated to bring in between 25 to 30 million dollars in tax revenue per year for the city.
Additionally, Amaya includes 24,000 square feet of ground-level retailer space. Twisted Fate Brewing, locally owned nanobrewery, was announced as the building’s first retail tenant and is expected to open next year.
“Basically when we’re done, there will be approximately 15 thousand people living here and maybe 25 thousand people coming to work here every day,” O’Brien said.
WBZ News Radio's Chaiel Schaffel (@CSchaffelWBZ) reports.
Photo: Chaiel Schaffel/WBZ NewsRadio
Photo: Chaiel Schaffel/WBZ NewsRadio
Follow WBZ NewsRadio: Facebook | Twitter | Instagram | iHeartmedia App | TikTok