Council to vote Monday on new 72-unit condominium project in North Revere

Mike Vienneau, managing partner at Broadway Capital, transformed a former retirement home in Chelsea into a spectacular 33-unit condominium project that sold out quickly. The 932 Broadway project has been applauded by neighbors for helping to transform and beautify the neighborhood.

Vienneau will attempt to achieve the same goal at the former Annemark Nursing Home site at 133 Salem Street in North Revere.

Vienneau is proposing a 72-unit luxury condominium project for the property. City Council will discuss the project at a subcommittee meeting on Monday and will likely vote on the project at its regular meeting.

Ward 6 Councilor Richard Serino expressed support for the 133 Salem Street project (see box) which will include all owner-occupied (non-rental) condominiums, as requested by Mayor Brian Arrigo and the city by Revere.

During a site visit with the Revere Journal, Vienneau said that all utilities, mechanical, electrical and plumbing will all be redone for the building. All units in the building will have their own electric heating system. There will be two elevators inside the building, 103 parking spaces for residents, and an outdoor courtyard at the rear of the building.

Vienneau said the property at 133 Salem Street was purchased for $4.5 million. “We estimate construction costs at $13-15 million,” he said. “We have a full landscaping plan that was one of the requests at the last city council meeting.”

Vienneau expects condo prices to range between $200,000 and $500,000 to $600,000. There will be studios, one-bedroom and two-bedroom condominiums.

“I think this project will be a great use of space,” Vienneau said. “Based on feedback from the neighborhood, the primary concern at this time is traffic. We have completed a traffic study, and the results of impacts have been minimal for the neighborhood.”

Ward Councilor 6 Serino supports a new condo project

Ward 6 Councilor Richard Serino expressed his support for the 72-unit luxury condominium project that will be located at 133 Salem St. in North Revere.

Serino and his Council colleagues are expected to vote on the project at the April 11 Council meeting.

Here is the statement from Councilor Serino:

“Over the past two months, Broadway Capital has engaged North Revere residents by hosting two neighborhood meetings and was present at two public meetings regarding their proposal.

Neighborhood feedback from North Revere residents has been considered and the developer has worked to alleviate concerns raised by residents during this process, including increasing the number of parking spaces.

I’ve long feared sticking residential units where I don’t believe they belong; however, this site is different and unique in that the building has been used as a residential setting for over 30 years.

Working with the neighborhood, I believe this owner-occupied condominium project will update the unsightly building that currently exists in a more modern and attractive light, enhancing North Revere and our city as a whole.

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