Suffolk Downs developer updates councillors over ongoing construction project

By Barbara Taormina

REVERE – HYM CEO Tom O’Brien was at the City Council meeting this week with the same message he has been delivering since The Boston Globe ran a story suggesting the Suffolk Downs development was on hold. City councillors told O’Brien the story was troubling considering how much the city is depending on the success of the project to pay for the new high school.

O’Brien listed the accomplishments at Suffolk Downs, focusing on the 475-unit building that is complete and now leasing. He highlighted the second 475-unit building across the street from the Amaya building and the nine retail spots that have interested parties investigating leases.

Councillor-at-Large Michelle Kelley said she had driven by the site twice and didn’t see any work going on, no trucks, no crews. O’Brien explained that HYM is working with the trade unions on project labor agreements that will align costs with what HYM needs to pay suppliers and investors.

Councillor-at-Large Marc Silvestri said he had spoken with several members of trade unions and they anticipate working at Suffolk Downs. “So will Suffolk Downs still be 10,000 units?” Silvestri asked O’Brien.

O’Brien first stressed that Revere’s share of residential units is 2,500; the remainder of the units will be built in Boston. Revere specified that 50 percent of the development in Revere must be earmarked for commercial development. “We believe the demand is out there for 10,000 units,” said O’Brien, adding that HYM is working with the unions to ensure more local labor is hired and more opportunities are available for young workers. “With that we can roll, we can build 10,000 units.”

O’Brien also said HYM has held several job fairs and the turnout has been great. “We were able to connect with people, get them trained and on a career path,” he said.

Kelley asked about the biolab building, which actually has been paused. O’Brien first asked the council to refer to that building as a Life Sciences building rather than biolab. He explained that when the project was first designed, the Life Sciences industry was thriving and growing. HYM felt it was conceivable to bring that type of facility to Revere. He mentioned huge companies like Pfizer moving into the city creating jobs and revenue.

“We thought, this is possible, we can make this happen in Revere,” said O’Brien.

But the Life Sciences industry has slowed and the Life Sciences building at Suffolk Downs has been paused until industry conditions change. O’Brien said the jobs created will not be exclusively for PhDs from MIT and Harvard. The majority of jobs will be for lab technicians who need high school diplomas and a certificate or certification. “Those are great jobs that pay $70,000 to $80,000 a year,” said O’Brien.

The foundation for the Life Sciences building has been completed and the building itself has been designed and is ready to go.

O’Brien stressed that HYM and its investors have already spent $600 million at Suffolk Downs. “We want to advance this project as aggressively as possible. No one is walking away,” he said.