Economic Development Sites – Revere, Massachusetts

November 10, 2022 8:37 am

One of the roles of the North Shore Alliance is to support economic development initiatives across 30 towns along the northeast region of Massachusetts. Not only do we encourage and support growing companies and their leaders, but we also bolster new businesses by providing information about commercial development opportunities for entrepreneurs to start a new business or current business owners to expand their footprint. 

To do this, we highlight commercial priority development sites with the help of the region’s Economic Development Directors, City and Town Planners, and Community Directors. 

In staying with this month’s town spotlight featuring Revere, Massachusetts, we will be highlighting three economic development sites in that town. Please visit our North Shore Alliance site to check on availability as availability status may change. 

Suffolk Downs Site 

Located along the Lee Burbank Highway, this former site of Suffolk Downs boasts 151 acres of which 52 are in Revere. The now nearly vacant former Suffolk Downs Race Track purchased in May of 2017 by HYM Investment Group, was rezoned in 2018 and was fully approved for mixed-use development in 2019. They are in the construction phase of such development (1.6M sq. ft. of retail, residential, and commercial development, including a new hotel and innovation center). 

The Former NECCO Headquarters Site 

Located along the American Legion, the former site of the NECCO headquarters allows for 49 acres of land. Additionally, this property contains an 840K sq. ft. manufacturing, distribution, and office facility on one, 500K sq. ft. footprint. 

This property was purchased in 2017 by Atlantic Management Company of Framingham; and it was rezoned for advanced, manufacturing, e-commerce, research and development, and ancillary uses. Vacated by NECCO in late 2018, it is now being refurbished for re-tenanting in 2019. 

Wonderland Site 

Conveniently located Route 1A / North Shore Road Size: 34 acres Description: This now vacant site of the former Wonderland Dog Track is available for sale by the current owner, CBW Capital. It is adjacent to the existing Blue Line transit station and a planned new commuter rail station. There has been preliminary interest in this site for residential, commercial and entertainment purposes. To those ends, it is expected that an overlay zoning district would be approved, as was done at Suffolk Downs; and the permitting process could/would proceed thereafter, once a developer is selected. This site is completely within the City of Revere; and it has been designated as an Opportunity Zone, with attendance tax benefits. If you are interested in learning more, please contact Robert B. O’Brien, Director of Economic Development (617) 461-6730.


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