200 residential units proposed for Ocean Ave., Boulevard
By The Advocate
According to a posting on the developer website BLDUP.com on Aug. 13, 2018, Boston-based Gate Residential, which purchased the property at 50 Ocean Ave. for $8 million, is moving forward in its construction of two levels of parking under five levels of residential spaces within a 0.74-acre area of land on Ocean Avenue beachfront.
According to the release, the plans call for a 127-unit mixed-use development at 21 Revere Beach Blvd., and 73 units in the rear building at 20-50 Ocean Ave. for a combined total of 200 units.
Gate Residential received approval by the Zoning Board of Appeals (ZBA) in May for parking requirements for apartments, retail use and restaurant use. In addition, a minimum loading space requirement for restaurant use and a minimum screening for an off-street parking area were also approved by the ZBA.
The development includes a 4,000 square-foot restaurant, a series of arcade/retail spaces covering 1,600 square feet, and an area that will have upgraded sidewalks and a rebuilt boardwalk. Initial plans call for a 1.21 parking ratio, which is 142 spaces. The company is also building 38 spaces on the Ocean Avenue parcel, and this will make the parking ratio 1.4 parking spaces.
The existing conditions of the Project Site are a paved parking area bounded by a vacant lot to the north, the Surf Side Condominium (a residential building) to the south, Ocean Avenue to the east and MBTA Blue Line property to the west.
Associated Project Site improvements in support of the Project will include paved vehicular and pedestrian areas, landscaped areas, utility services and a storm water management system.
According to Robert O’Brien, director of Economic Development for Revere, the two parcels, which are located between Surfside Lofts and Atlantic Towers, are fully permitted and approved by the ZBA. The city is currently awaiting architectural drawings of the project.
Gate Residential partnered with Revere Beach Parkway Partners, LLC and Transdel Corp. to build the $90 million apartment/hotel project currently under construction at the former Shaw’s Supermarket site at 205 Revere Beach Pkwy.
Also approved for possible development in the near future is the former Ming’s Chinese restaurant site at 90 Ocean Ave., which is adjacent to the proposed project. It is currently approved for 75 residential units.