355 Bennington

355 Bennington & 419 Bremen Streets, East Boston, MA
355 Bennington 1

Redgate Real Estate Advisors is advancing 355 Bennington, a six-story, mixed-use development located at 355 Bennington and 419 Bremen Streets in East Boston's Day Square neighborhood. This project will feature 170 rental units, including 24 affordable units (14% of the total), nearly 7,000 square feet of ground-floor retail space, and 5,800 square feet of publicly accessible open space. The development is strategically positioned just a quarter-mile from the Wood Island MBTA station and adjacent to the East Boston Greenway, enhancing its appeal as a transit-oriented project. Additional amenities include 81 structured parking spaces and extensive bicycle accommodations, all designed to improve pedestrian access and elevate the area's walkability.

Project Overview

Address: 355 Bennington & 419 Bremen Streets, East Boston, MA

Developer:Redgate Real Estate Advisors

Project Type: Mixed-use multifamily with retail

Total Units: 170 (14% affordable)

Retail Space: 6,985 SF

Open Space: 5,800 SF publicly accessible

Parking: 81 structured spaces

Status: Predevelopment (Construction financing secured March 2025)

Estimated Delivery: TBD

Market Context: East Boston Multifamily Trends

As of Q4 2024, the Greater Boston multifamily market remains robust, with rent growth outperforming many other markets and investment sales activity rebounding. Occupancy rates are among the highest in the country, with a vacancy rate of 5.9%, just 10 basis points above the historical 10-year average of 5.8% . The stabilized vacancy rate stands at 4.7%, indicating strong demand for rental units. However, the luxury segment has seen increased vacancies, rising to 8.3%, due to a surge in new Class A units entering the market.

Developer Profile: Redgate Real Estate Advisors

Redgate is a Boston-based real estate firm specializing in strategic advisory, owner’s representation, and investment. With a team of over 55 professionals, Redgate operates on a mission to enrich lives and communities by unlocking the power of real estate. The firm has a successful track record spanning over 25 years, bringing broad experience and a stellar reputation to each investment.

Stay Informed

355 Bennington represents a significant investment in East Boston's urban development, aligning with the city's goals for transit-oriented, mixed-use projects that enhance community engagement and accessibility. With its strategic location, thoughtful design, and commitment to affordability, this development is poised to contribute positively to the neighborhood's growth and vibrancy.

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Project Details

Developer

Redgate

Type

Multifamily

Unit Count

170

Financing

Not Specified

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