Greystar announced last week the long-awaited acquisition of 85 Boston St., the former Wood Waste facility, which is a 5.9-acre site slated for a 650-unit multifamily development that will begin construction this summer.
Greystar’s development includes two six-story buildings and 33 affordable on-site homes. The site was owned and operated by Wood Waste of Boston as a construction debris processing and recycling facility and has been in the works for re-development many years.
The 85 Boston Street site is first of two Greystar projects in Everett, the other being the recently-acquired Market Forge site on Garvey Street.
Greystar also announced they will be hosting an official groundbreaking on the Boston Street site this coming Weds., June 23. The event will feature a short speaking program by City officials and by Greystar Managing Director of Development Gary Kerr.
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 an estimated $220 billion of real estate in nearly 200 markets globally including offices throughout the United States, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing approximately 729,000 units/ beds, and has a robust institutional investment management platform with approximately $39.8 billion of assets under management, including over $18.3 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.