News
BOSTON: Development Turns Chelsea Around
March 21, 2014
Back in the day, Chelsea—which at 1.8 square miles is Massachusetts' smallest city—was known for the nefarious nature of its nightlife. But by this summer, projects valued at nearly $200M will be in construction or recently completed, while another $500M (including 2,200 housing units) are in the pipeline, city manager Jay Ash tells us. Coming out of the ground are a multifamily rental building and two hotels, and this summer, a new $100M regional HQ for the FBI gets underway. The feds coming to town “wasn't always good news,” he quips. Here's why: In the late '90s, the only hotel in town was “rented by the hour, not the night,” says Jay, who grew up in Chelsea. Read more about its dramatic transformation in Real Estate Bisnow Boston.
