Upscale Boston-Area Community Breaks Ground
Developed by The NRP Group with construction financing from Capital One Financial Corp., the 145-unit property is situated directly across from Revere Beach on the Atlantic Ocean in the city of Revere.
BLVD at Revere Beach. Rendering courtesy of The NRP Group
The NRP Group started construction on BLVD at Revere Beach, a Class A community with 145 upscale apartments in Revere, Mass.
Capital One Financial Corp. is providing The NRP Group with $35.3 million in construction financing for the new development. The two companies have partnered together numerous times in the past, bringing both market-rate and affordable housing developments to light.
“We are directly across from the beach, which is pretty unique,” Carolyn Mendel, The NRP Group’s vice president of development, told Multi-Housing News. “There are a few other developments along Revere Beach that have been recently built, but we are only one of two that are directly across the street, which makes for some really nice views and a nice amenity for our residents as well.”
Located at 320 Revere Beach Blvd., directly across from Revere Beach on the Atlantic Ocean, the new apartment community will offer studio, one- and two-bedroom units, as well as 189 parking spaces in a two-level garage and 5,800 square feet of amenities, including sea kayak rentals, fire pits, a saltwater pool and pet spa. Additionally, the property will house 2,500 square feet of ground-floor retail space.
“We see this as a really nice alternative for younger professionals who are being priced out of expensive areas in downtown Boston, but who still want to live in a high-quality product,” Mendel said. “Rents are going through the roof in Boston, and this allows people who want to be near downtown to have an opportunity to be.”
Close Proximity to Boston
The property is close to Boston, with great access to downtown by public transportation.
“This development is transit-oriented; we’re a half mile from the end of the Blue Line on the T, so you can get to downtown Boston in 10 minutes and get to Logan Airport in about five minutes,” Mendel said. “From a driving perspective, we are about 10 minutes from Boston as well depending on traffic, so we’re really excited about this location.”
BLVD at Revere Beach is expected to be complete sometime in 2020.
“We are delighted to be a part of the renaissance along Revere Beach, America’s oldest public beach,” Mendel said. “We take great care to tailor our developments to the local needs of the community and we are confident that BLVD will be a marquee project anchoring development along the waterfront.”
In February, the NRP Group began construction on The Axiom at Cabin Branch, a 272-unit property that will be the only rental community within Cabin Branch—a neo-traditional development located at 22551 Cabin Branch Ave. in Clarksburg, Md.
