Suffolk Downs which spans East Boston and Revere marked the groundbreaking of a new mixed-use multifamily development. Portico marks a major milestone in the site’s redevelopment and will deliver hundreds of new residential units. The project will feature world-class amenities for future residents.
Portico Breaks Ground at Suffolk Downs Redevelopment
The Suffolk Downs redevelopment is a major real estate projects in the city’s history. It is located at a former horse racing site on the border of East Boston and Revere. The redevelopment aims to transform the former racetrack into one of the city’s largest mixed-use neighborhoods, adding significant new housing.
As part of this development, on December 17, 2025, the Suffolk Downs team officially broke ground on its second residential building. Portico is a 473-unit residential building with ground-floor retail and a slate of on-site amenities. A milestone project, it marks the continued momentum of the Suffolk Downs redevelopment.
Amaya was the first residential building delivered as part of the Suffolk Downs redevelopment. As the mixed-use district continues to welcome new projects and grow, Boston will witness a transformative sight in this area. Portico is expected to be completed and delivered by February 2028.
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Features and Amenities of the Milestone Project
Portico is a multifamily project at the 161-acre Suffolk Downs site. The project will offer 473 residential units to the redevelopment site’s aim of delivering 10,000 new homes. It includes a mix of studio, one- and two-bedroom, and one-bedroom-plus-den apartments.
Along with this, Portico will also offer 33,000 square feet of ground-floor retail space. Meanwhile, residents of the project will be offered an amenity-rich community featuring a 15th-floor sky deck and a resident lounge with a kitchen and terrace. A large landscaped courtyard with fire pits, lawn space, and grills will bring residents an enjoyable yet relaxing time.
The development will also include creative studios equipped with recording pods, a fitness center, and a veranda with a coffee bar and private work pods. Meanwhile, its location just steps from the Beachmont MBTA Blue Line Station is ideal for residents seeking access to downtown and the North Shore.
Portico will integrate into Beachmont Square alongside the Amaya building, expanding the area’s retail footprint.
Partnership and Project Financing
Portico is a development driven by a public-private partnership. This partnership includes HYM, Cathexis, the City of Revere, Massachusetts, and Related Fund Management. The collaboration helped secure state and local support, paving the way for the project’s groundbreaking.
Through its Related Real Estate Debt Fund IV, Related Fund Management provided $226 million in senior construction financing. Meanwhile, JLL Capital Markets’ Debt Advisory team facilitated financing for HYM and Cathexis. A $5 million state grant and a $15 million tax break from the City of Revere further supported the project financially.
The general contractor for Portico is Suffolk, looking over the ground-up construction. Key design and engineering partners include Prellwitz Chilinski Architects, WSP Engineers, GeoEngineers Inc., Beals + Thomas, and Halvorson | Tighe & Bond Studio.
The project will add to Suffolk Downs’ redevelopment, which will bring more opportunities to the area.
