Boston’s commercial real estate development in 2024 and 2025 is marked by steady multifamily housing growth and large mixed-use projects like the Suffolk Downs redevelopment, which transform underutilized sites into vibrant, transit-oriented communities. Developers are focusing on transit-accessible locations and adaptive reuse of office buildings to address housing demand and office vacancies. However, the pace of new construction has slowed due to high interest rates, financing challenges, and stricter permitting and zoning regulations.
Despite these challenges, here are some of top projects to look out for in the area:
Boston’s Bold Blueprint: Transforming Public Housing into a Green Urban Oasis
Boston has taken a significant step forward in its ambitious $2 billion redevelopment of the Mary Ellen McCormack public housing complex, securing $70 million in financing for the project’s first phase. Led by WinnCompanies in partnership with the Boston Housing Authority, the redevelopment will transform the aging site into a modern, mixed-income community featuring 3,300 units over the next two decades. The initial building, set to open in 2026, will include 94 units built to Passive House standards, emphasizing sustainability with all-electric design. This project exemplifies the city’s broader trend toward large-scale, transit-oriented, mixed-use developments that balance growth with affordability and environmental responsibility amid ongoing financial and regulatory challenges.
Suffolk Downs Rises: Boston’s Vision for a Thriving Transit-Centered Community
The Suffolk Downs redevelopment is one of Massachusetts’ largest construction projects, transforming a 161-acre former racetrack in East Boston and Revere into a vibrant mixed-use community. Led by The HYM Investment Group, it will bring 10,000 residential units with 20 percent affordable housing, along with over 5 million square feet of commercial space, public parks, and improved transit connections over the next two decades. The first phase, including the 475-unit Amaya building and Beachmont Square, is already complete, with public spaces and events activating the site. This project clearly reflects Boston’s broader commercial real estate trends in 2024 and 2025, where developers focus on large, sustainable, transit-oriented communities to meet housing demand and navigate financial and regulatory challenges.
Brighton’s New Green Living Hub: Affordable, Transit-Friendly Housing Takes Root
A new 240-unit multifamily housing project has been approved for 250 Everett Street in Brighton, transforming a current parking lot and office space into a six-story, all-electric residential building. Of the total units, 41 will be income-restricted, and the development will feature a mix of studios, one- and two-bedroom apartments, along with new landscaping, 90 additional trees, and publicly accessible open spaces. The project also includes a new Bluebikes dock and will contribute funds to local parks and the city’s bikeshare system, supporting both green space and sustainable transportation. This development aligns with Boston’s broader commercial real estate trends in 2024 and 2025 by focusing on transit-accessible, sustainable multifamily housing that addresses local housing needs and enhances community amenities, even as the city faces financing and regulatory challenges.
