RISE, a Boston-based minority owned developer and construction firm, has received approval from the City of Everett to move forward with plans for a residential project at 52 School Street.
The project sits amidst Everett Square and the Commercial Triangle – two focal points for the City of Everett. As part of the ‘Envision Everett’ initiative, the city has strategically begun to expand the infrastructure to improve residential quality of living, revitalize underutilized areas, and create opportunities for residential and commercial uses to participate in the city’s growth and advancement.
RISE’s School Street project will add to the housing uptick in the area, bringing 46 rental housing units including studios, 1-Bedroom, and 2-Bedroom unit options, all within a 4-story residential building. 7 of the 46 rental units will be designated as affordable and will be available to individuals and families earning up to 80% of the area median income (AMI).
“Everett is one of the most interesting coastal cities in Massachusetts, said Herby Duverné, Founder and CEO of RISE. “The city has made great strides to expand the economy and improve the quality of living for the 50k + residents that reside here, and RISE is honored to be part of the resurgence happening.”
The residential community will offer a variety of amenities including a club room and lounge, on-site bicycle storage areas for residents and visitors, a fitness center, work-from-home stations for all hybrid scenarios, and a common outdoor terrace.
With sustainability in mind in one of Greater Boston’s most rapidly progressing coastal cities, 52 School Street will target LEED Gold certifiability. The building will be Carbon Neutral, utilizing all-electric building systems and on-site renewable energy through rooftop photovoltaic (PV)/solar panels.
Twenty-five percent of the parking spaces on-site will be designated for electric vehicle (EV) charging stations.
School Street is in walking distance of the restaurants along the Square’s Broadway Street and beyond, as well as local green open space parks, markets, and schools. Building upon Everett’s multimodal options and advances and excellent walkability rating, a Transportation Demand Management (TDM) program will support residents seeking alternative transit.
46 bicycle storage spaces will be available for residents, in addition to 16 bike parking spaces for visitors and the general public. New sidewalks, street trees, and landscaping will be prioritized along School Street, along with a new public crosswalk, street striping, signage and ADA improvements to the surrounding sidewalks will all further enhance the experience and walkable nature of the neighborhood.
BlueBikes membership and subsidized MBTA passes will be made available for building residents – with easy access to the MBTA Orange Line subway system at Wellington Station and Sullivan Square Station and several MBTA bus routes along Broadway/Rt.99 and Main Street.
Dedicated on-site ride-share pick-up and drop-off spots will consider the follow of traffic in and out of the site.
RISE recently received approval from the City of Everett’s Zoning and Planning Board. The project is anticipated to start construction in Q2-Q3 2023.
As a minority-owned developer + construction firm, RISE’s team delivers a fundamentally different type of equitable development model: one that is committed to generating a combination of strong economic and social returns that foster growth opportunities to lift and enrich entire neighborhoods. RISE’s depth of experience in development and permitting, combined with the team’s agile mindset, brings the expertise of a large firm and the innovative cost solutions of a midsized firm together. RISE is building with intentionality to generate economic mobility and social impact for our communities. Our business model is vertically integrated. We source our opportunities internally, entitle internally with experienced staff and build the project ourselves with our construction division. This allows RISE to see the entire picture, eliminate the conflicts and misalignment that exist in the industry today and mitigate the risks associated with the build.