Revere Experiences Condo Boom

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REVERE, MA-Revere Beach is turning the corner on development as a number of condominium and mixed-use projects are under way or in the planning stages. “Revere Beach remained untouched for so many years,” local developer Steve Fustolo tells GlobeSt.com. “Now we are at a turnaround point. Where else can you have ocean views from your condo, step out to a sandy beach each morning and drive just minutes to Downtown Boston?”

On tap in the next few years is Ocean Club, a $50-million condominium complex that will bring 242 units to a stretch of land just off Revere Beach Boulevard. When completed in the fall of 2008, that project, designed by architect Steffian Bradley, will offer floor-to-ceiling waterfront views in all but 10% of the units and private rooftop gardens in 23 of the complex’s penthouses. With price tags ranging from $300,000 and up, the condos offer waterfront views at prices far below Boston waterfront condo prices, yet with easy commuter access to the city, Fustolo says.

At least three smaller condo complexes are already under construction in the Boston suburb and several more are on the drawing boards. Spurring much of the city’s newfound interest is an increase of public and private funding that will bring $9 million in public improvements to Revere Beach Boulevard, Revere Mayor Thomas Ambrosino tells GlobeSt.com.

“I anticipate the beach will be unrecognizable a decade from now,” Ambrosino says. He adds an infusion of public and private cash over the next five years will alter a beachscape that was once known for its amusement park and fried clam stands.

Even the area around Wonderland Race Track, several blocks from the beach, is due for a facelift. Ambrosino says the city plans a $200-million complex that will include a hotel, retail space and condominiums. A developer is expected to be selected by late July.