Everett has received a new proposal to add hundreds of multifamily units along the Malden River.
Boston-based V10 Development — a partnership between John Tocco, a former Encore Boston Harbor employee, and Ricky Beliveau of Volnay Capital — filed plans for its Rivergreen Park development on a site that is home to surface parking lots for the Encore casino and hotel.
The plans, first reported by the Boston Business Journal, call for 591 units across three five-story buildings.
In addition to the 830K SF development, part of the 25-acre site would be devoted to a 14-acre public riverfront path and park, according to the filing.
Rivergreen Park is the latest development to hit the Everett Planning Board’s desk, as the city has been flooded with activity, including over 1,500 units coming from a handful of developments from South Carolina-based Greystar.
V10 Development has been active in the city’s Commercial Triangle Economic District, which has seen the most development activity and attraction from residents. The developer has three major multifamily projects in the district: the 397-unit Sky Everett, a 230-unit project off of Second Street and an 85-unit development on Broadway Street.
Although the city is seeing this boom in development, not all parts have seen it equally. Most of Everett’s waterfront is still underdeveloped, with old industrial sites lining its part of the Mystic River, leaving little access to the waterfront for residents and the public.
The waterfront appeared to gain some momentum when The Davis Cos. was reportedly in talks to buy the 95-acre ExxonMobil site, one of the largest potential redevelopment sites in Greater Boston, but in September the deal was terminated.