Breakwater Apartments: A Lynn Waterfront Transformation
Posted By: Boston City Properties
Big changes are in store for the waterfront of Lynn – and January 2020 marked the beginning of them. The announcement of the groundbreaking for Breakwater, a new apartment complex, developer Callahan Construction Managers is the first to take concrete steps to transform the city’s waterfront.
Previously home to the Beacon-Bel Chevrolet dealership, the 14-acre site upon which the new apartment development will sit has been vacant for more than 35 years. In collaboration with the state, the city of Lynn, Dolben and HDS Architecture – the designer of the complex – Callahan, Inc.’s project calls for the construction of two buildings that will sit on top of a parking garage. Plans for the development also include two courtyards; a pet-washing area; outdoor fire pits; and a fitness center.
The redevelopment of the site at 254 Lynnway, which is expected to cost around $90 million, also requires major improvements to the seawall along the property. For this to happen, the complex will avail itself of a $1-million infrastructure grant that will be provided by the Seaport Economic Council. Upon completion, the apartment development will offer 351 market-rate apartments. These units will overlook the Lynn Harbor. Construction is currently underway, and the complex is expected to be completed and ready for leasing activity by March 2022. From the sounds of it, the development will compete directly with high-end apartment developments that have cropped up across the city of Boston.
The Breakwater apartment development represents just one of many major changes that are expected to occur along the Lynn waterfront. Lynnway, the major thoroughfare that runs along the harbor in the city, will see several new developments in the years to come. Currently, five projects are in the works and are in various stages of planning. Last summer, the city updated its Waterfront Master Plan, paving the way for the development of thousands of new waterfront condos and apartments. The plan also makes room for new public access to the waterfront; mixed-use developments; retail development; and even a new hotel.
Other changes that are in the works for the Lynnway include:
- Harbor 98 at 98 Lynnway – Groundbreaking for a new luxury condo development at this site occurred in the fall of last year. Dubbed Harbor98, the complex will boast anywhere from 48 to 60 luxury condo units. The $30-to-$35-million project, which is expected to be completed by the fall of 2021, will result in an eight-story building whose condos will all feature views of the harbor; the city of Boston; and the ocean. Plans call for one-, two- and three-bedroom luxury condos along with penthouse suites. Units will range in size from 800 square feet to around 2,600 square feet, and they are expected to sell for between $520,000 to $1.95 million.
- 810 Lynnway – Developer McGrath, owner of the Lynnway Mart Indoor Mall and Flea Market that’s currently located at this 8.4-acre site, plans to demolish it soon and redevelop it into a massive apartment complex. Although many years away still, the development will include 550 market-rate apartments across four seven-story buildings. Currently in the permitting stage, the $350-million project will include studios and one- and two-bedroom apartments along with 10,000 square feet of retail space and public access to the waterfront.
- 626 Lynnway – A.W. Perry, the Boston-based developer, plans to transform this 17-acre site – the former home of Garelick Farms – into a mixed-use development with waterfront apartments, retail space and possibly even a hotel. Zoning changes are still needed, and completion of the project is likely three to seven years away.
- 843 Lynnway – Formerly home to the General Electric Co. Gear Works, this 65-acre site is expected to be redeveloped into a transit-oriented neighborhood at some point. The timeline for the $500-million project is still unknown, but it will include eight buildings with 1,262 apartments, restaurants and retail along with a walkway to the River Works MBTA station.
Stay tuned to Boston City Properties for updates regarding the ongoing Lynn waterfront transformation.