Greystar Breaks Ground for Project

Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development, and management of high-quality rental housing, today celebrated the groundbreaking of 85 Boston Street in Everett, Mass. alongside Everett Mayor Carlo DeMaria, State Senator Sal DiDomenico, State Representative Joseph McGonagle, and Alfred Wojciechowski, a principal with CBT Architects. The 5.9-acre site will be developed with 650 new apartments across two 6-story buildings with 33 affordable on-site units. Today’s groundbreaking sets that stage for the first building comprised of 330 rental units and on-site parking for approximately 400 cars. The name for this first building was announced today as “The Mason.”

Pictured (l. to r.) State Senator Sal DiDomenico, Everett Mayor Carlo DeMaria, Greystar Managing Director Gary Kerr, State Representative Joseph McGonagle, and CBT’s Alfred Wojciechowski.

This is Greystar’s first development project in the City of Everett, and it contributes to the progress and supports the city’s efforts to transform the Commercial Triangle Economic Development District, a historically industrial area, into a vibrant and welcoming mixed-use neighborhood. The project is a joint venture between Greystar and Cigna Investment Management.

“The Greystar Development project is going to transform the City of Everett’s Commercial Triangle Economic Development District,” said Mayor DeMaria. “Through this mixed-use residential development, Greystar will make best use of the land. We are grateful for the City’s partnership with Greystar and look forward to the dynamic neighborhood that will be created.”

Designed by CBT Architects, The Mason will activate the building’s streetscape for residents and neighbors. Approximately 5,000 sq. ft of retail plus a variety of amenity uses will line the building’s frontage along Vale Street, while a raised bike lane with a public bike share station, new sidewalks and landscaping all contribute to the enhancement of the pedestrian thoroughfare. 

For building residents, on-site amenities include a courtyard with a pool and grilling stations, individual and collaborative spaces to support remote working, a fitness center with a studio room for classes, dining and lounge areas, a pet-friendly park, and a community room that can host private and public community events.

“The City has been a terrific partner at all stages of this project and The Mason will greatly contribute to the transformation of the surrounding industrial neighborhood into a walkable, welcoming district with vibrant retail and outdoor spaces,” said Gary Kerr, Managing Director for Greystar Development Services in the Northeast Region. 

Greystar is the country’s largest operator of apartments, and The Mason is the first of two projects in Everett where the company has made a long-term commitment to bring national expertise, quality and integrity to join with the city as it continues to thoughtfully steer the transformation of underutilized spaces. Greystar will perform construction management for the project. 

Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates over an estimated $220 billion of real estate in more than 200 markets globally including offices throughout the United States, United Kingdom, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing more than 740,000 units/ beds, and has a robust institutional investment management platform with approximately $41.3 billion of assets under management, including over $19.2 billion of assets under development. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com. 

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