The Suffolk Downs developer has selected an exclusive retail leasing agent for Beachmont Square, the first phase of the Suffolk Downs redevelopment.
Last week, the HYM Investment Group announced that Blackline Retail Group will be the leasing agent. The retail group is kicking off leasing efforts now, with the first building, Amaya, containing 24,000 square feet of retail space and scheduled to be ready for operation in the summer of 2024.
Overall, Beachmont Square will comprise 1.7 millionsquare feet with a mix of uses, located in the heart of Revere’s Beachmont neighborhood. The development will feature over 1,500 luxury residential units, 325,000 square feet of lab/office space, 85,000 square feet of retail space, a 159-key hotel and open space including a plaza and outdoor amphitheater.
The project will be situated directly across from the MBTA Beachmont Station and is designed to be an accessible, sustainable, and dynamic community that enhances the quality of life for its many residents and visitors, according to the developers. Construction of the first residential building, Amaya, broke ground in 2022 and is set to open in the summer of 2024. Amaya will feature 475 apartments and 24,000 square feet of ground floor retail.
“HYM is thrilled to partner with Blackline as we look to bring diverse and vibrant retail, lively food and beverage concepts and neighborhood resources to Beachmont Square,†said Thomas N. O’Brien, Managing Partner and Chief Executive Officer of HYM. “Beachmont Square will intentionally serve and provide meaningful economic opportunities for the surrounding Revere and East Boston neighborhoods.â€
Blackline Retail Group is a commercial real estate brokerage firm specializing in the representation of landlords and tenants for retail properties throughout New England. Members of the Blackline team have been involved with the lease up of Boston’s Fenway neighborhood, The Continuum in Allston, and many restaurant and retail deals throughout the city. Blackline currently leases some of New England’s premier mixed use destinations including Patriot Place, Hingham Shipyard & Linden Square.
“We are thrilled to launch the retail leasing component of Suffolk Downs and be a part of the largest mixed-use projects in Boston’s history. We look forward to working with the professional team at HYM to bring Beachmont Square to life,” said Daniel Dori, President of Blackline. “We are confident that our expertise and knowledge of this asset class will help attract the best tenants and create a vibrant shopping and dining destination for the community.”
In 2017, Suffolk Downs, located in both East Boston and Revere along two MBTA Blue Line Stops, was purchased by HYM and its investors. Plans for the 161-acre space at Suffolk Downs include 5.2 millions square feet of life science and office space, 10.15 million square feet of residential space, 450,000 square feet of retail space, 400,000 square feet of hotel space and over 40 acres of open space. Phase 1 of the redevelopment, Beachmont Square, broke ground in May 2022 on the Revere side of the site and will begin to deliver in 2024.
“Every day we can see more and more the vision of the future of Suffolk Downs,” said Acting Mayor Patrick Keefe. “Today’s announcement is a great step in the right direction for this project. With experience at Patriot Place, the Hingham Shipyard and other esteemed developments across New England, I believe Blackline’s professionalism and vision fits well with Suffolk Downs. We in the City of Revere cannot wait to get started on this new chapter of the project.”
