Work set to start for 7-story building at site of Sir Morgan's Cove on Green Street

Work set to start for 7-story building at site of Sir Morgan’s Cove on Green Street

Work set to start for 7-story building at site of Sir Morgan's Cove on Green Street
Photos: Rare images of the Rolling Stones rocking Sir Morgan’s Cove unearthed

WORCESTER — Dirt is set to start moving soon for the construction of a seven-story mixed-use building that will come into being at 89 Green St., taking over the former location of local legendary bar Sir Morgan’s Cove.

Coined as “The Cove” in honor of previous occupants, the building will spread across 203,000 square feet with 171 market-rate apartment units, 16,000 square feet dedicated for a restaurant and a bowling complex, and 99 parking spaces.

The building will tower over Polar Park only a pop fly away from the cheers of WooSox fans, which will give the higher floors full visibility, according to artists depictions by developers V10 Development.

Work will start next week for The Cove, a seven-story building on Green Street that will be built over Sir Morgan's Cove.
Work will start next week for The Cove, a seven-story building on Green Street that will be built over Sir Morgan’s Cove.

Work is expected to wrap up by September 2024, when its two patios, a gym, fire pits and lounge areas will come to life with residents.

The previous red-bricked building was torn down in March, when Worcester residents lamented its historic value for being a constant presence in the city.

Dating from 1910, the 12,000-square-foot building was most notably used as a music hall, first becoming home to Sir Morgan’s Cove, a name that the bar had carried from the previous location at 139 Green St. since 1969.

A conceptual rendering of The Cove mixed-use development on Green Street overlooking Polar Park.
A conceptual rendering of The Cove mixed-use development on Green Street overlooking Polar Park.

A Monday night in September 1981 brought special attention to the bar and the city when the Rolling Stones put on a memorable last-minute show after Mick Jagger and company looked for a small-scale live show while practicing at a farm in North Brookfield.

In 1999, the location was renamed the Lucky Dog Music Hall, to then rebrand in 2015 as The Cove Music Hall.

This article was originally published in Telegram on Now 18, 2022. Click here to view the original article.

Construction to begin on seven-story Canal District development

Construction to begin on seven-story Canal District development

Construction to begin on seven-story Canal District development
The Cove will bring 171 residential units and 16,000 square feet of commercial space to the Canal District.

Construction site work on The Cove, a mixed-use development at 89 Green St. in Worcester, is expected to begin next week.

The seven-story project will feature 16,000 square feet of commercial space, as well as 171 residential units. It is expected to open in August 2024, said John Tocco, V10 Development managing partner and COO.

The developer already has a tenant, Flatbread Pizza and Bowling, lined up for the ground floor.

Tocco is a graduate of The College of the Holy Cross in Worcester, class of ‘03.

“I was shocked at the changes in Worcester since I lived there. It’s a special opportunity to build this project by the outfield wall of Polar Park,” Tocco said to WBJ on Tuesday.

V10 Development of Boston is the lead developer on the project. Worcester investment management firm Churchill James, V10’s partner on the project, sourced the land and led the entitlement effort with the city.

The plan to begin construction was first reported by commercial real estate intelligence firm BLDUP.

NEI General Contracting of Randolph is the general contractor.

The Cove was initially approved in May 2021 as a 13-story, 300-unit building with 30,000 square feet of retail space. The plan to move forward with a project about half that size was approved in February.

The project is part of the ballpark tax district, which is intended to help pay for the $160-million Polar Park baseball stadium.

This article was originally published in NEREJ on November 15, 2022. Click here to view the original article.

Developer set to buy 95-acre tank farm site near Encore casino in Everett

Developer set to buy 95-acre tank farm site near Encore casino in Everett

Developer set to buy 95-acre tank farm site near Encore casino in Everett
A massive power plant across the street from Encore Casino in Everett and neighboring gas tanks owned by ExxonMobil are slated for redevelopment over the next few years in a move that promises to remake the industrial area on Boston’s northern doorstep.DAVID L. RYAN/GLOBE STAFF

Prominent Boston developer The Davis Companies has reached an agreement to buy a roughly 100-acre tank farm in Everett from ExxonMobil, positioning one of the largest available development sites near Boston for a sprawling mixed-use project.

Meanwhile, power plant owner Constellation has agreed to put a 45-acre portion of its nearby Mystic Generating Station up for sale.

Taken together, the two properties could bring about massive changes to this industrial area on Boston’s northern doorstep, an evolution that kicked off with Wynn Resorts’ decision to build a casino and luxury hotel on the site of an old chemical factory overlooking the Mystic River. Wynn has more in the works, including a nearly 1,000-seat events venue and restaurant alongside a parking garage across Broadway (Route 99) from the Encore Boston Harbor casino complex. Meanwhile, The Kraft Group has been rumored to be in the mix for this area, known as the Lower Broadway Economic Development District, as part of the search for a home for the New England Revolution soccer team.

“Everett residents finally have the chance to realize the benefits of the types of economic development opportunities they deserve with the redevelopment of the ExxonMobil … parcel and the Constellation Energy generating sites,” Everett Mayor Carlo DeMaria said in an e-mail. “I have always known the potential that Everett has to evolve from its industrial age commercial uses because we have the acreage that is no longer found in surrounding communities.”

DeMaria said he hopes the developer interest can help city officials make the case for public transit improvements, such as an extension of the Silver Line bus system or a new station for the commuter rail trains that travel through the city but do not stop there.

The city of Everett has touted much of the 95-acre Exxon property — actually four parcels that stretch from the Sweetser Circle rotary, at routes 16 and 99, all the way to the Mystic River — for life sciences. But Davis has not yet disclosed any plans for the site.

A rendering of Wynn Resort’s proposed events venue and parking garage across the street from the Encore Casino in Everett.
A rendering of Wynn Resort’s proposed events venue and parking garage across the street from the Encore Casino in Everett. Wynn originally proposed an 1,800-seat venue but has since scaled the project back to under 1,000 seats after rival theater operators complained to the state gaming commission. ELKUS MANFREDI ARCHITECTS

The firm’s chief development officer, Michael Cantalupa, confirmed in an e-mail that a Davis affiliate has signed an agreement with Exxon for its Everett fuels storage and distribution terminal, but would not comment beyond that. (Davis is also building a roughly 225,000-square-foot “last mile” distribution center near the Chelsea-Everett line, rumored to be for Amazon.)

Similarly, a spokeswoman for Exxon, which had hired brokerage firm JLL to market the site last year, declined to say much about the deal other than to confirm it and to add that it is consistent with the energy giant’s strategy to “continually evaluate and upgrade our portfolio.”

Matt Lattanzi, Everett’s director of planning and development, said city officials have had preliminary discussions with Davis executives about the developer’s interest but have not yet seen any formal plans. He said the property in all likelihood will be home to a mixed-use project totaling millions of square feet, with some residential construction, likely close to Sweetser Circle. He said he’s hopeful to see official plans submitted within the next few months.

“It’s such a huge parcel, so heavily contaminated,” Lattanzi said. “Seeing a redevelopment down there would be transformative.”

Next to hit the market will be a big section of Constellation’s massive riverside power plant. Most of the turbines have been shut down, and the two remaining gas-fired units, known as Mystic 8 and 9, are slated to be retired in mid-2024. Spokesman Mark Rodgers confirmed Constellation hired brokerage firm CBRE to sell its already decommissioned units, labeled 1 through 7, and much of the land around them. The process will start in the third quarter of this year, with a goal to “maximize benefits” for Constellation and for Everett, Rodgers said.

A number of potential buyers have expressed interest, Rodgers said. The sale process, he said, is designed to create “a fair process for all interested parties.” The two electric transmission switchyards next door are owned by Eversource, and are not part of the sale.

Because the Mystic power plant parcel is across Broadway from the casino and adjacent to Wynn-owned land, the Las Vegas-based company is viewed as a possible buyer. But all spokesman Michael Weaver would say when asked about its potential interest is that it is “very supportive of redevelopment” at both the Exxon and Constellation sites.

Part of the Mystic Generating Station in Everett will soon be put up for sale for redevelopment
Part of the Mystic Generating Station in Everett will soon be put up for sale for redevelopment.PAT GREENHOUSE/GLOBE STAFF

DeMaria has envisioned a dining and entertainment district along that stretch of Broadway across from the casino. For that reason, Everett officials added the section of the power plant property in question to an urban renewal area last year that would enable the city to take it by eminent domain, although officials said at the time they would prefer to see a private sale of the land instead.

Likewise, Wynn executives would like to see a hospitality-oriented area to augment their Everett casino, which opened in 2019. That’s one reason why they’re looking to build hotels, restaurants, and the events venue on 13 acres of Wynn-owned land across the street.

Then there’s the Revolution.

The soccer team currently shares Gillette Stadium in Foxborough with the New England Patriots. But The Kraft Group have spent years looking for an appropriate place in or near Boston to build a roughly 20,000-seat soccer arena that the Revs could call their own. Several parcels that have come up for consideration in the past are now slated for other uses: The old Wonderland dog track in Revere is slated to be the site of a new high school, for example, while the former Bayside Expo property in Dorchester was acquired by developers who are proposing a large life-sciences oriented project. A spokesman for The Kraft Group declined to comment about any potential interest in Everett.

The movements with the Exxon and Constellation properties were welcomed by developer John Tocco, whose V10 Development is planning two apartment complexes that would bring more than 600 units to old industrial properties just across the railroad tracks from the Exxon site, in an area known as the “Commercial Triangle.”

Tocco said the developer interest in the Exxon site shows that when Everett residents approved the casino project, they were betting on something much bigger than a casino. They were betting on a full-scale revitalization of a major industrial section of their city.

“This is a tremendously exciting opportunity for the residents of Everett to see this industrial site transformed,” said Tocco, who worked for Wynn in community and government relations before leaving in 2019. “Its really been a desire of the community, and the people I talked to, for almost a decade at this point.”

Housing eyed for parish campus at St. Matthew’s site

Two development groups are exploring a partnership that would redevelop the former St. Matthew parish campus on Dorchester’s Stanton Street into a mixed residential project with a significant affordable housing component.

V10 Development and Codman Square Neighborhood Development Corporation (NDC) rolled out their collaborative proposal, which is still in the exploratory stage, along with some initial ideas at a small public meeting with neighborhood association leaders from Redefining Our Community (ROC), Dorchester Unified, and Talbot Norfolk Triangle (TNT) on March 31.

St. Matthew parish was established in Dorchester in 1923. On Oct. 1, 2020, the parish was combined with nearby St. Angela parish to form Our Lady of Carmel parish. The church on Stanton Street was decommissioned and is now ready for what is known as “profane [non-religious] use.”

John Tocco, of V10, said his firm has owned the former rectory building at St. Matthew’s for some time and obtained the rest of the property under agreement from the archdiocese of Boston early this year.

St. Matthew Church

“We envision a mixed residential project with a heavy influence on affordability,” he said. “One way of achieving this is to potentially partner with the Codman Square Neighborhood Development Corporation or a similar affordable development group, which is what we’re exploring now.”

Gail Latimore, director of Codman Square NDC, said that while there are no agreements between the two potential partners, they’ve had some “good conversations” over the past two months about the opportunity.

“We have no formal relationship or agreement,” she said, “but what we are doing is seeing how we can do something on the site. We have no plans. Being that the site is a former church, we wanted to have conversations in the community. We want to see if we can make the site work financially.”

Tocco and Latimore said any agreement would likely be a collaboration whereby Codman Square NDC would need to develop a minimum of 100 affordable rental units on the part of the site where the church and two related buildings now sit.

Such a venture would include purchasing the land at market rates from V10.

Meanwhile, V10 would develop a combination of 50 market rate and affordable units that would likely offer homeownership opportunities, with the entire campus being made up of a few separate buildings.

With that, the collaboration would consist of 150 units across the site, with parking aiming to be one-to-one for the V10 portion and the minimum 0.7 spots per unit for the affordable site. Tocco said they understand, even at this early point, that they are looking at a residential neighborhood that needs off-street parking.

“We don’t want people spilling out into the neighborhood and disrupting your block,” he said.

Said Latimore: “The other thing is we’re not sure if we can keep the buildings on the site. We haven’t decided anything, but we don’t know. We may have to demolish them, including the church.”

Tocco said his group has not developed in Dorchester, but has two large projects in the works in Everett and Worcester. He said he had experience in infrastructure development overseas before coming back to his home in Greater Boston, where he took on a major community relations role during the development and construction of the Encore Boston Harbor casino.

Knowing how communities work, and wanting to respect the area around St. Matthew, he said his company wanted to meet with neighbors before embarking on any big plans. They knew they wanted to make a big splash on the affordable housing piece at the site, and after investigating how to do it themselves, they realized it was much more complicated than they had anticipated. That led them to search for partners, which is how Codman Square NDC came to being considered for such a role.

“What we hope to take away at this early stage is what is exciting for the community.,” Tocco said.

For community members in attendance, one of the biggest concerns was the potential loss of long-time local operator Wesley Child Care, which has served the community since 1969 and has been located on the St. Matthew site since 2006.

Neighbors from Stanton Street and ROC indicated they would love to see a portion of the development be devoted to Wesley, as childcare in the area is tough to find.

“That’s very important to us,” said one neighbor representing Stanton Street. “Having a leasable space that could be a day care would be very important to maintain.”

Many neighbors also said they felt blindsided by the sale of the property. They stressed that the campus has always been a community gathering space, even for those who didn’t attend church there. Representatives from ROC and Dorchester Unified indicated they would like to see the gathering space continued with the provision of an enhanced community room for at least three of the abutting associations, a place for monthly meetings, for community gatherings, and for receiving official association mail.

“We need a place to call home,” said one ROC leader. “Not just a room, but a home.”

Other concerns were about the density on the site – a church campus with nearly no residential component would now have at least 150 new residences within a tight neighborhood. That, neighborhood leaders said, would need to be carefully planned and expertly executed to avoid disrupting a street that consists mostly of long-time homeowners.

Other leaders asked V10 to consider implementing a developer’s teaching program for young people and teens who are interested in any aspect of development – from property acquisition to architecture to community engagement to construction.

While the initial results of the meeting seemed promising for the potential development collaboration, more discussion is ongoing and any potential development agreement is still in the exploration stages, Tocco said late last week.

Fans flocking to Polar Park will enjoy new improvements to Canal District this summer

WORCESTER — Polar Park has revitalized the city of Worcester and the historic Canal District.

Even before the relocation of the Boston Red Sox’ Triple-A affiliate from Pawtucket, Rhode Island, to Worcester was made official on Aug. 17, 2018, team officials, government leaders, utilities, construction companies, local businesses and residents already were working in unison to help this project come to fruition.

In fact, with the leadership from the Worcester Redevelopment Authority, all entities worked in relative harmony to help get the ballpark built on schedule. The WooSox home became a reality when Polar Park officially opened in April 2021.

“The vision of the ballpark is to create a great civic space where people come and create memories, and create opportunities,” City Manager Edward M. Augustus Jr. said after the team’s inaugural season was complete.“We have raised Worcester’s visibility and brand. (Polar Park) has definitely delivered beyond expectations on all those things.”

While upgrades and improvements inside the state-of-the-art ballpark will continue for the 2022 season and beyond, real estate continues to boom around Polar Park. There will be significant changes to the city’s skyline around the ballpark, and most projects are underway.

Parking garage

Let’s start with the most immediate impact for WooSox fans — parking. The Green Island Boulevard parking garage will be fully operational in time for Opening Day on April 12. The garage directly across from Polar Park will have 300 parking spots.

Cove building

The building that once housed the Sir Morgan’s Cove nightclub, behind the center field wall on Summit Street is in the midst of demolition. It’s slated to become residential units and a parking garage. The project is hoping to break ground in August, with a completion date in the fall of 2024.

Table Talk Pies

Table Talk Pies opened its headquarters in Kelley Square in 1924, but recently baked its last pie on the property. Since its new location on Gardner Street is operational, the company has begun to remove equipment from the old building. Construction on the proposed Table Talk Lofts is set to begin in the fall.

Building behind berm

The proposed building behind the left field berm inside Polar Park is looking for an anchor tenant before construction begins, which could start as early as August. Once completed, WooSox fans will no longer be able to see Union Station from inside the ballpark.

Compass Tavern

The Compass Tavern was a popular place before, during and after WooSox games last summer. Worcester Railers owner Cliff Rucker recently purchased the restaurant, renovated it and renamed it The District Wood Fired Kitchen. It is set to open April 12, the same day as the WooSox’ home opener. Rucker also owns the popular Off the Rails on Commercial Street, which also is adding an outdoor music venue for concerts.

Baystate Business: Teachers to the Front (Radio)

Bloomberg Baystate Business for Wednesday, March 3rd, 2021 – John Tocco, V10 Development, about their proposed 21-story residential tower for Everett that would include a rooftop restaurant (2:54) – Brown University student Maggie Bachenberg talks about Pointz, an app that helps bicyclists navigate traffic (16:07) – Bloomberg Opinion columnist Sarah Green Carmichael on work-from-home changing the sick day (25:53) – Janet Wu interviews Brooks Tingle, the President and CEO of John Hancock Insurance, about their new initiative with an unlikely partner, Amazon (32:56) – Rockland Trust CEO Chris Oddleifson on the latest news from his company and trends in banking (47:04) – Bloomberg Opinion columnist Brian Chappatta on the M&A activity in regional banking (1:00:10) – Massachusetts School Superintendents Association President Tom Scott on the President’s vow to get all school employees vaccinated by the end of the month (1:07:33) – Merrie Najimy, President of the Massachusetts Teachers Association, on teachers being put at the head of the line for vaccinations (1:21:17) – Bloomberg News reporter Angelica LaVito on how the pharmacy companies were caught off guard by the President’s announcement (1:32:09) Hosts: Tom Moroney, Joe Shortsleeve and Kim Carrigan Producer: Dan Pierce


This article was originally published in the Bloomberg on March 4, 2021. Click here to view the original article.

Developer files plans for a residential building in Everett with ‘the tallest restaurant in New England’

The Varano Group will head up the building’s restaurant project.

Restaurant at Sky Everett.

Gone are the days of dining at the Top of the Hub while the twinkling lights of Boston stretch before you, but a new building might offer diners another chance to take in expansive views with a martini in hand.

John Tocco, who helped to build Encore Boston Harbor as the casino’s executive director of government affairs and community relations, has filed plans with the City of Everett to build a 21-story residential tower with a rooftop restaurant at 114 Spring St. Developed by Tocco’s V10 Development and designed by Context in Charlestown, Sky Everett aims to be the tallest residential building in Everett.

In a press release, V10 Development said Sky Everett will also house “the tallest restaurant in New England.” The rooftop destination will be run by Nick and Nico Varano, of the The Varano Group, whose restaurants currently include Strega North End, Nico, and Rina’s. (Earlier this year, Danu Partners purchased three Strega restaurants from The Varano Group.)

Tocco told that he first got to know Nick through the opening of Encore Boston Harbor, where the restaurateur opened Fratelli with Frank DePasquale.

“I’ve always enjoyed his dining establishments, and I think when we were envisioning a restaurant on a roof, it really needed to be something that people could recognize and be drawn to,” Tocco said. “Nick does a wonderful job of creating special places that people want to go to. So it was kind of a no-brainer.”


Sky Everett

The Sky bar and restaurant will feature a 6,000-square-foot restaurant and lounge area, including a 1,500-square-foot sky deck with a retractable roof conducive to four-season indoor and outdoor dining. There currently aren’t any details about the menu, and The Varano Group declined to provide further information to about the upcoming concept.

Sky Everett is still in the early stages of development. Tocco said they had recently filed plans to the city for review, and that construction would ideally start in the spring of 2022, with a finish date of late 2024. V10 also stated it would provide a 15-foot right of way to the city along 114 Spring St. to allow for a dedicated bus lane and future Silver Line stop.

“I commend V10 for working with the City to help advance our transportation priorities as well as creating fantastic public spaces,” said Everett Mayor Carlo DeMaria in the press release. “Silver Line expansion into Everett has been a priority of my administration for years. … This project supports our transportation goals and, just as important, cleans another significantly contaminated site in our city and returns it to the public for lasting enjoyment and revitalization. At the end of the day, it’s a beautiful project.”

This article was originally published in the Boston Globe on March 3, 2021. Click here to view the original article.

Luxury apartment tower in Everett clears city permitting

A rendering of the proposed Luxury apartment tower in Everett.THE ARCHITECTURAL TEAM, INC/ZVZSTUDIO

A former Wynn Resorts executive-turned-developer has won a key city approval for what would be the tallest residential building in Everett.

John Tocco, a partner at V10 Development, received planning board approval this week for the 21-story luxury apartment building he wants to build at 114 Spring St., in an industrial area targeted for redevelopment near the Chelsea line. Tocco still needs to go back to City Hall, likely in early 2022, for the final building permit.

V10′s $215 million project, which would feature a rooftop restaurant run by The Varano Group with views of the Boston skyline, has undergone modest changes during the permitting process. The 550,000-square-foot building would now feature 385 apartments, including 20 designated as affordable.

The tower is going up in a 100-acre section of the city known as the Commercial Triangle, where new zoning rules were established in 2018 to encourage high-density, mixed-use development. V10′s project, dubbed Sky Everett, makes it a pioneer in that part of the city. Whether other developers will follow remains to be seen, although the possibility of a Silver Line bus-lane extension could draw investors’ interest.

V10 still needs to line up financing, Tocco said. The developer has hired Colliers, the real estate brokerage, to find equity and debt partners for the project. Tocco said he expects multiple offers, and investors will be finalized by the end of the year, with construction starting in late spring of 2022. Construction could take up to three years.

The tallest building in the city, of course, is Wynn’s Encore Boston Harbor hotel and casino. Tocco knows that project well: He was the casino’s head of community affairs and government relations and came to realize the city’s development potential in that role. Tocco ventured out on his own in 2019, less than the two months after the casino opened, to join with partner Ricky Beliveau to launch V10.

This article was originally published in the Boston Globe on July 23, 2021. Click here to view the original article.

The Silver Line lining drop// Could Everett be the next boomtown?

If you build transit, real estate developers will come. That’s at least how it has played out along the Green Line Extension into Somerville and Medford.

Everett already was drawing the attention of developers before the transit chatter around a potential Silver Line extension began earlier this year. But many in Boston’s real estate circles are less sure of the bus rapid transit line’s potential impact on prices: Housing costs are already on the rise there and in neighboring cities.

“Those areas like Chelsea and Everett have had a good-sized jump in rental costs already, but that’s not a product of the Silver Line coming into play in several years,” said Tucker White, the director of research at real estate firm Hunneman.

Rents across Chelsea and Everett increased by 3 percent for a studio and 8 percent for a one-bedroom apartment from the end of 2017 to the end of 2019, according to MLS data. The Chelsea extension of the Silver Line began service in 2018, but the first public mention of a potential Everett extension into Somerville and Cambridge wasn’t announced until the following year.

“Everett and Chelsea are definitely benefiting in the same way East Boston has from overflow taking place from the core of Boston and even in Somerville, Cambridge, and Charlestown now,” White said. “You don’t have major employers going in, but you’ll have plenty of residents going in.”

Specific rental data for the Green Line Extension corridor wasn’t available, but the price-per-square foot for an apartment in Somerville within a half-mile of the planned Green Line railway rose by 7 percent between the end of 2017 — when the extension was approved — and the end of 2019. Overall rents in Somerville grew by 6 percent for a studio and 5 percent for a one-bedroom.

“The Green Line is more of a concrete thing that’s happening. It’s not just evidenced by multifamily, but you have commercial office and lab product banking on that,” White said. “The Silver Line doesn’t have nearly the amount of ridership and frequency of the Green Line. There will be a bump in rents, but I don’t think it will be as much a direct product of the Silver Line going in.”

Chatter around the speculative soar in real estate values around the Green Line Extension began well before the first shovel hit the ground. Condos sold for more than their listing price, and a 2014 Metropolitan Area Planning Council study warned that monthly rents could increase as much as 67 percent around the new stations in areas like Union Square.

Commercial development has followed suit, with developments like the Boynton Yards mixed-use project in Somerville.

But this doesn’t mean White is discounting what’s happening in Everett, either. He just doesn’t see the city’s success tethered to Silver Line transit speculation.

Wynn Resorts built Encore Boston Harbor and alluded to long-term development opportunities in the area well before any Silver Line corridor was proposed. Everett Mayor Carlo DeMaria’s plan for widespread mixed-use redevelopment in an area known as the Commercial Triangle similarly arrived before talk of extending the Silver Line.

If anything, DeMaria was vocal more about a potential aerial gondola running between City Hall to Encore and then to Assembly Station in Somerville on the Orange Line. That idea followed Millennium Partners’ ill-fated $100 million gondola plan to run from South Station to the eastern edge of the Seaport.

But gondola talks have quieted, and all eyes are now on the Silver Line — including the mayor’s.

“The extension of the Silver Line is critical to growing Everett in a manner that is inclusive of people of all income levels, minimizes impacts to the environment, and provides mobility options to all Everett residents that are unavailable today. Despite being only 2½ miles from downtown Boston and Cambridge, we are the only inner-core city that lacks both a rapid transit connection or even a one-seat ride to all of the major job centers in the region. The Silver Line will allow us to become a much more accessible city for our existing residents, new residents, and employers,” DeMaria said in a statement. “It is my administration’s vision that by allowing for adequate numbers of new housing units, both affordable and market-rate, and designing these new neighborhoods along the Silver Line such that they are walkable and accessible to transit, that we will be able to maintain Everett as a welcoming, inclusive, and accessible City both for our current residents and for all those who wish to make their home here.”

Some developers also view it as a game-changer.

“The ability to get from Everett to the Seaport on one seat, that’s a huge advantage for that area. Not many places can say they have that,” said John Tocco, the developer behind the planned 21-story Sky Everett apartment building. “It’s tremendously transformative if it goes forward.”

Tocco isn’t banking on the Silver Line — the tower could be directly on the extended route if it moves forward — in getting people to his project. But he also strongly supports the plan, as it would set the stage for a so-called urban ring transit network around Boston and into high-tech and life science markets like Cambridge and Somerville.

“That’s the long-term vision and the holy grail of the Silver Line,” Tocco said. “This area in Everett is just the natural fit to put people to bed, wake up, and go to work.”

City leaders like Jay Monty, Everett’s transportation planner, are making sure the long-term vision entails making the Silver Line a more reliable experience through Everett than it is through neighborhoods like the South End and Downtown Crossing, where the bus inevitably merges with regular car traffic.

Everett already has dedicated bus lanes and intends to have a similar right-of-way for the Silver Line, including utilizing some portions of land adjacent to a commuter rail line solely for the proposed bus rapid transit line.

“It’s important to us to have the right transit infrastructure here first,” Monty said. “To do it later is too expensive and time-consuming.”

Early signs of a residential development boom are reason enough to move ahead as quickly as possible to avoid the gridlock seen in other parts of the city. Roughly 3,000 new apartment units have been permitted for Everett in a former industrial area where the Silver Line would pass, Monty said.

Given the Silver Line extension hasn’t even moved past an initial feasibility study and developers are already pouring into the area, one might think this part of the region is poised to become Somerville 2.0 with soaring housing costs. For now, City Hall is downplaying any potential pricing pain on the horizon.

“Price-wise, I think what you’re seeing there is nothing like what happened with Somerville with the Green Line,” Monty said. “Somerville saw a lot of ‘condo-ization’ of existing real estate. We’re not seeing that as much. The new construction is so far just apartments, and land values are going up from when they were industrial uses.”

Monty also recognizes that fears of displacement permeate Greater Boston, but he notes that Everett has a variety of affordable housing initiatives and plans for greater density to provide residents with more housing stability, even if the Silver Line does arrive and drive up costs.

“We’re doing everything we can so folks who live here today have the option to stay in Everett,” Monty said.

Cameron Sperance can be reached at Subscribe to the Globe’s free real estate newsletter — our weekly digest on buying, selling, and design — at Follow us on Facebook, Instagram, and Twitter @globehomes.

This article was originally published in the Boston Globe on April 4, 2021. Click here to view the original article.

Strega founder, Wynn exec propose 21-story Everett tower and restaurant

The former owner of Strega has partnered with a former Wynn Resorts exec to build a 21-story residential tower in Everett that would include a top-floor restaurant with views of the Boston skyline.

This article was originally published in Boston Business Journal on March 3, 2021. Click here to view the original article.