Revere’s newest affordable housing complex held a ribbon cutting ceremony on July 22 The building, known as 571 Revere, the former site of the Cove Bar on Revere Street, is the latest initiative by The Neighborhood Developers to provide affordable housing to Revere’s residents. At the beginning of the ceremony, Rafael Mares, the executive director for The Neighborhood Developers, underscored the need for the mixed-income development. As he noted, more than 2,000 market-rate rental units have been completed, started, or planned in the Waterfront square development. With the completion of 571 Revere, The Neighborhood Developers integrates 51 affordable rental units and creates a physical connection to the existing neighborhood. The organization hopes that the project’s bright future will inspire more conversations about community well-being.
The Neighborhood Developers designed 571 Revere to respond to a vast variety of needs across the City of Revere. The development includes one, two, and three-bedroom apartments with varying affordable rent levels
571 Revere demonstrates The Neighborhood Developer’s continued commitment to the city of Revere. “571 Revere builds upon our successful community development work in Revere, where, since 2010, we have served more than 1,000 residents through our workforce development programs, preserved and created 137 affordable rental homes, funded and rebuilt public parks and public art, expanded our workforce development programs of CONNECT, and hosted many community events,†said Rafael Mares. The ribbon cutting ceremony shall be an especially auspicious occasion for the City as it begins to pull itself up from the chaos of the Covid-19 pandemic.
“571 Revere stands as testament to what can be accomplished when government, developers, and other community stakeholders work strategically for the benefit of our neighborhoods,†said Mayor Brian M. Arrigo. “Offering a wide array of units restricted to certain income levels and just steps away from the beach, this building replicates the unique configurations that have made Revere a city we all love. A majority of these units have been offered to long-time Revere residents, and I am proud of the work we have done throughout the course of my administration to further our promotion of housing affordability,†said Mayor Brian Arrigo.
List of All Funders:
• Boston Financial Investment Management
• Department of Housing & Community Development (DHCD)
• HOME funding provided by the North Suburban Consortium through the Malden Redevelopment Authority
• Santander Bank
• MassHousing
• Community Economic Development Assistance Corporation (CEDAC)
• Dorfman Capital
• LISC Boston
• The Life Initiative
List of Project Partners:
• Contractor: NEI General Contracting
• Architect: Arrowstreet
• Development Consultant: Peter Munkenbeck (pronounced “Mun-ken-beckâ€)
• Legal Counsel: Klein Hornig; D’Ambrosio Brown; and Noble, Wickersham and Heart
• Owner’s Rep.: Matt Munkenbeck
• Environmental Engineer: Irwin Engineers
• Civil Engineer: Hancock Associates
• Landscape Architect: Off-Shoots
• Geotechnical Engineer: The Geotechnical Partnership
• Property Manager: Winn Residential
• Accountant: AAF CPAs
• Metro Housing Boston: overseeing the rental assistance that makes homes affordable
