October 5, 2022
A new residential project at 380 Second Street would continue to revitalize Everett’s Commercial Triangle and Economic Development District. It would also provide a range of housing options with 10% of the proposed 643 units designated as affordable. Everett officials rezoned the commercial triangle in 2018 to allow more urban renewal development.
This development offers the first compact living project for the city. Compact living is intended to decrease the cost of living by increasing the supply of housing, reducing unit size and housing costs, and lowering transportation costs while also facilitating community cohesion. In fact, these units are typically 17-25% less expensive for tenants renting.
Additionally, this proposal would generate 2,200 construction and permanent jobs with a job preference for local residents. The project is being developed by Newton-based Fulcrum Global Investors, LLC.
