East Elm Residence at 99 East Elm Street presents a fully entitled opportunity in Everett’s rapidly transforming Harborwalk submarket. This mid-rise project is approved for 190 residential units and 27,800 square feet of ground-level retail, strategically positioned within walking distance of the new Silver Line station and just minutes from downtown Boston and Logan International Airport.
Total Units: 190
Retail Space: 27,800 SF
Building Size: 100,000 SF
Stories: 6
Parking: 114 surface spaces
Zoning: Commercial (C)
Lot Size: 1.39 acres (60,588 SF)
FAR: 1.65
Construction Start: June 2025
Projected Completion: September 2026
Opportunity Zone: Yes
Transit Access: 0.4 miles to Chelsea Station (MBTA Newburyport/Rockport Line); 2.9 miles to Malden Center (MBTA Haverhill Line)
Proximity to Boston: 2 miles to downtown; 4 miles to Logan International Airport
High Visibility: Situated near major thoroughfares including Route 1 and Revere Beach Parkway
Walk Score: 67 (Somewhat Walkable)
Transit Score: 61 (Good Transit)
According to CoStar data, the Everett/Malden/Medford/Melrose submarket is experiencing robust multifamily demand:
Vacancy Rate (2-4 Star Properties): 10.8%
Average Rent per Unit: $2,863
12-Month Sales Volume: $428.25 million
Average Sales Price per Unit: $438,940
Under Construction Units (Market Overall): 15,479
These metrics indicate a healthy investment environment with strong rental rates and significant sales activity.
Thibeault Development is a privately held, multi-platform real estate company operating throughout New England, with a strong presence in downtown Boston. The firm develops, operates, manages, and owns residential, retail, industrial, and mixed-use properties. Residential projects include re-developed downtown Boston buildings, urban ring apartment complexes, and suburban subdivisions and communities. Retail projects have encompassed big-box retail development and storefront sites in Boston. Industrial holdings range from heavy industrial sites to light industrial rentals and commercial storage facilities.
Established in 1985, Khalsa Design Inc. (KDI) is an award-winning design firm specializing in multifamily housing, hospitality, and mixed-use developments. Based in Somerville, MA, KDI collaborates with developers and city officials across New England to enhance community spaces. Their portfolio includes new construction, renovations, adaptive reuse of historic structures, and advanced architectural modeling. KDI is recognized for its commitment to sustainable and community-focused design.
Encore Boston Harbor: A luxury resort and casino featuring fine dining, a spa, and a scenic harborwalk.
Night Shift Brewing: A popular craft brewery known for its innovative beers and lively taproom.
Glendale Park: Everett's largest public park offering athletic fields, a playground, and walking paths.
Short Path Distillery: A craft distillery producing a variety of spirits with a focus on quality and flavor.
Everett Harborwalk: A scenic waterfront path along the Mystic River, ideal for walking and biking.
East Elm Residence offers a rare chance to invest in or purchase a fully approved, transit-oriented development in one of Greater Boston's emerging neighborhoods. With its strategic location, strong market fundamentals, and experienced development team, this project is poised for success.
Is this your project?
Discover why boutique multifamily buildings outperform their larger competitors by focusing on curated experiences, intentional design, and emotionally resonant branding.
Discover how data-driven branding strategies can accelerate leasing, boost NOI, and turn your multifamily property's identity into a measurable performance asset.
Your brand’s reputation is built—or broken—at the leasing desk. Are you ready to unify leasing and marketing to protect it?
Remember when we all DIY dip-dyed our hair in Kool-aide and learned just because you can do it yourself doesn't mean you should? This week we're digging into the hidden costs of DIY'd branding.
A simple read in under 5 minutes, delivered to your inbox Saturday mornings.
A simple read in under 5 minutes, delivered to your inbox Saturday mornings.