25 Garvey Street
Update
03/07/24
Developers Request Extension for Everett Multifamily Approvals
The development team behind the project at 25 Garvey Street in Everett has requested a one-year extension on the project approvals. Per the filing, the project was awarded funding from the Executive Office of Housing and Livable Communities and also has a tax-exempt bond financing commitment from MassDevelopment (MassDev). However, MassDev and EOHLC informed the team in late January that the Commonwealth has already exhausted its 2024 bond volume cap. Therefore the team will not be able to close on financing and start construction before 2025. Plans for the project call for 125 affordable housing units.
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