REVERE, MASS. — The HYM Investment Group, along with project partners Cathexis Holdings, the City of Revere, Related Fund Management and Suffolk, have broken ground on Portico, the second residential building at the 161-acre Suffolk Downs, a redevelopment of a former horse racing track. HYM and Cathexis bought the site in 2017 with a plan to redevelop the property into a mixed-use district. The first project, Amaya, was completed in 2024. Portico is slated for a February 2028 completion.
Additional partners on the 473-unit project include Prellwitz Chilinski Architects, MEP engineers WSP Engineers, geotechnical engineer GeoEngineers Inc., civil engineer Beals + Thomas, and landscape architect Halvorson | Tighe & Bond Studio. Located about 5 miles northeast of Boston, Portico will include a mix of studio, one- and two-bedroom floor plans and 33,000 square feet of ground-floor retail space. Amenities will include a 15th-floor sky deck with ocean views, a lounge with a kitchen and terrace overlooking Beachmont Plaza, a courtyard with flexible lawn areas, fire pits, grills, recording pods, a fitness center and a veranda featuring a coffee bar and private workspaces.