Suffolk Downs transformation draws closer
Developer discusses plans for site; work could begin next year
Developers behind the Suffolk Downs site say the process is chugging along, launching one of the largest land redevelopment projects in New England that could see shovels on the ground as early as next year. “We want this place to be walkable with opportunities to enjoy parks, shops and restaurants,” said Thomas O’Brien, founder of HYM Investment Group and director of the Boston Redevelopment Authority from 1994 to 2000, which now does business as the Boston Planning & Development Agency. “The reception we have received from the community is very positive.” Currently, much of the former horse racing facility is underutilized, providing no tax revenues or purpose to the city. Operators of the Suffolk Downs horse races will close out their last live racing season in 2019 as developers plan to begin construction in the summer. Boston is currently on the shortlist of contenders for Amazon’s second headquarters, with Suffolk Downs featured as a build site. A decision is expected by the end of the year, but with or without the e-commerce giant, plans to redevelop the site will proceed, O’Brien said. Situated on approximately 161 acres, HYM proposes to build upwards of 10,000 housing units, 500,000 square feet of retail and 8 million square feet of office space. A quarter of the site will be devoted to open space, O’Brien said, adding that the site will focus on walkability and easy access to the Beachmont and Suffolk Downs MBTA stations. The project, which would span upwards of two decades, would bring 14,000 new construction jobs and would start as early as next year when the cities of Boston and Revere are expected to greenlight the project. When completed, the site would bring $81.7 million annually in property tax revenues for the city of Boston, O’Brien said. The BPDA and HYM will host another community meeting next Tuesday.