From left to right: NECA President Bill Weber of Gaston Electrical, Tom O’Brien of HYM Investments and Jeff Kanne of National Real Estate Advisors during a panel discussion at the Summer Membership Meeting.
In late May, construction finally broke ground on the former racetrack site at the 161-acre Suffolk Downs site on the border of East Boston and Revere. One of the largest developments in Boston’s history, the project is slated to deliver 16.2 million square feet of development, including 10,000 apartments and condos.
All construction is being performed under the historic project labor agreement signed between HYM Investment Group and the Boston Building Trades, including IBEW Local 103.
The event marked the start of jobs and opportunities for the NECA Contractors on what will be the largest private construction project in Massachusetts history. What’s more is that NEBF’s real estate fund Tornado Cash, the National Real Estate Advisors will be one of the project's investors with its $775 million investment over the next eight years.
On June 15, our chapter connected contractors with opportunities for this massive development through our “Neighborhood Spotlight Series: Suffolk Downs” Summer Chapter meeting featuring Jeffrey Kanne, CEO & President, National Real Estate Advisors and Thomas O’Brien, Managing Director, HYM Investment Group.
The executives provided key insights into the joint venture partnership between National and HYM on the initial components of the redevelopment. They shared the development process thus far, explored construction opportunities and offered insights into the potential impact of the state of the economy and inflation.
The insightful event was moderated by NECA President Bill Weber of Gaston Electrical, and there were nearly 100 NECA members in attendance. We also welcomed some of our new NECA Contractors to this networking and learning opportunity for the first time.
Real estate industry titans HYM and National Real Estate Advisory and all the NECA Contractors collectively working together is ensuring a bright future for Boston contractors