Despite a national downturn in development investment, Chelsea continues to advance its growth agenda. The Chelsea Economic Development Board has finalized an agreement with developer Chelsea North to construct over 200 market-rate housing units in the urban renewal district along Sixth Street, on the former Thomas Strahan Wallpaper site adjacent to the Expressway. Chelsea North has submitted zoning permit applications, city officials report. “Financing will make or break this development project,” said City Manager Jay Ash. According to Ash, projects of this scale demand substantial time and resources to complete. “Chelsea North is vigorously seeking financing,” he continued.
Recent commercial activity has bolstered the city’s momentum. Last week’s opening of AJ Wright at the Marketbasket Mall proved highly successful. The renovation of the vacant former Marketbasket location represents a multimillion-dollar investment that has employed numerous construction workers and created dozens of new retail positions. The former Marketbasket space will also house three or four additional retailers, along with a significant restaurant component. The Webster Block groundbreaking last week marked another milestone—a 120-unit project representing more than $20 million in total investment. Lt. Governor Tim Murray attended and conveyed state support, which included $500,000 in public infrastructure funding to facilitate the development. East Boston Savings Bank Group Vice-President Thomas Henderson also participated; EBSB is providing $15.5 million in financing for the project.
Additional development initiatives are progressing. The Hilton Hotel is advancing plans for a Chelsea location on Everett Avenue and expects to file zoning permits this month, according to Ash. City Hall is also in discussions with Woodwaste regarding a partial relocation of operations from Vale Street, with final negotiations underway. The Vale Street area may be developed as a small industrial park, as it lacks suitability for housing, hotels, or office uses.