The proposed 21 story tower with 387 units for Spring Street in the so-called “Triangle” where the city wants to build apartment housing on a grand scale is considered by several local developers as undoable.
The notion that Everett can enter the 20-story high Boston type building club is improbable at best and impossible at worst, according to the developers, who all wished to remain unnamed.
“Not even at Assembly Square (in Somerville) are the buildings taller than 12-14 stories,” said one of the developers.
Another developer said the numbers just don’t work for such a building in Everett.
A provocative feature in last weekend’s Boston Sunday Globe suggests Everett is quite possibly the next Somerville with the coming of the Silver Line to the city.
With thousands of new units being built here, and the Silver Line close to becoming a reality, the thought among some developers and analysts who follow real estate development is that Everett stands on the doorstep of a new day.
Overflow from the core of Boston is considered one of the key elements in Everett’s real estate revival.
That is, as Boston housing prices rise dramatically, renters and buyers look to surrounding cities and towns for a place to live.
Soaring costs for apartments and properties in Charlestown, Cambridge, and even Somerville, have caused developers and renters, and home buyers to flock to Chelsea and Everett.
Everett’s housing costs have jumped dramatically without a rapid transit connection in recent years.
For the matrix to work for increased development interest here, public transportation is the key – and this is especially true for cities like Everett.
The public park now being redone in North Everett is a glaring example of precious city money being spent – hundreds of thousands of dollars – to reconstruct the park which was already one of the loveliest public parks in the city.
Manyresidentshaveaskeduswhytheparkwasbeingredonewhenit gave the appearance of a park not at all in need of any improvements. The recent redo just a few years back of the park by GTA was flawless. The gazebo built by GTA is perhaps the most brilliant piece of period
style exterior construction in the city today.
Some have suggested this present redo of the park, (not by GTA) by
a contractor friend of the mayor’s, is what made the project possible. This sounds very likely but we have no proof of this.
The only proof we have about the park being redone – new and wider
sidewalks, new granite, landscaping, possibly a few benches, some paving and whatever else was planned for – is that it didn’t appear to need to be redone.