Real Estate Heating Up In Revere
An economic boom in the areas to the north of Boston is bringing heat to the real estate market in Revere. As explained in an article from The Daily Item, Revere is just one of nine North Boston areas which are poised for an economic explosion. With the high costs of real estate in the city of Boston, middle class families, business, developers and investors are moving their money to these towns where it will go further. Casinos, homes, restaurants, luxury apartments, and much more exciting opportunities are moving into Revere as the real estate market heats up.
Casinos
As Massachusetts paves the way for casinos, Revere’s mayor Dan Rizzo explained to the Boston Globe that the jobs created would be a major lure for the city. A one billion dollar project for a casino and horse race track at Suffolk Downs is already in the works, with a 15 year agreement which will bring in both financial payments and job opportunities. Rizzo stated, “I really do believe the jobs alone could cut our unemployment rate in half.” The process to receive a license to operate a casino will not be an easy one, however. Anyone who is interested in submitting an application for a casino license in Revere would greatly benefit from using a good Revere lawyer to go over the financial and legal aspects of filing the application.
Homes
Another story from the Boston Globe shares a bit of Colonial real estate which is shining bright in Revere. An 84 year old rick colonial home located just across from Revere Beach’s quiet end was recently named “Home of the Week.” Most of the home’s original features are still intact, including the five-chiming doorbell, oak flooring, light fixtures, and a front mudroom with dual closets. The fireplace in the main entry has been replaced with gas, but is still surrounded by a carve mahogany mantel. This exquisite brick home is just one of the many gorgeous pieces of real state that Revere has to offer. Anyone who is interested in exploring the historic real estate of Revere, Massachusetts should contact one of our Revere real estate attorneys.
Luxury Apartments
The Boston Globe also shares that ground will be broken on a $37 million dollar luxury apartment development on Revere Beach his September. Mayor Dan Rizzo feels that this stretch of land will be the home of many more millions of dollars worth of real estate in the next ten years. Covington Realty Partners has spearheaded the project, which will be located at the corner of Ocean Avenue and Revere Street. Revere is expecting to be the home of at least $500 million in real estate expansions over the next decade. For those who wish to take advantage of the explosion of Revere’s real estate market, we have Revere lawyers on hand to work with you. Give us a call today.
