Everett Rezones 200 Acres for Residential Development Along Mystic River

The Everett Planning Board will hold a public hearing on August 12 to review rezoning petitions covering 200 acres of waterfront and former manufacturing land east of Broadway.

The timing aligns with spillover demand from Cambridge and Somerville, where university-driven job growth has pushed median sale prices above 1.1 million dollars in many blocks. Everett’s current median sits near 565000 dollars, according to June 2026 Multiple Listing Service data, creating a price gap that developers have begun to test with small multifamily conversions.

Local anchors driving interest

Proximity to Encore Boston Harbor and the Silver Line stop at Chelsea Street already draws commuters who work at the Seaport District or attend events at TD Garden. The city’s draft zoning map would allow buildings up to six stories on parcels within a half mile of the riverwalk extension now under construction between the casino and the Malden River confluence.

Market Street and the blocks around the former Monsanto site are the first areas slated for the new overlay district. A separate proposal would create a 40-unit affordable housing requirement for any project exceeding 50 units, modeled on the inclusionary policy the Boston Planning and Development Agency adopted in 2024.

Price data and next steps

Single-family homes on Nichols Street sold for a median 612000 dollars in the second quarter, up 9 percent from the same period last year. That figure remains 22 percent below the citywide Boston median of 780000 dollars. Two limited-liability companies filed site-plan applications last month for 180-unit buildings on parcels currently zoned for warehouse use.

Residents and investors can review the full rezoning packet on the city website or attend the August 12 hearing at Everett City Hall. The board is expected to forward its recommendation to the City Council for a final vote by early October.