Hotel Coming to Revere Beach
Revere may soon have its very first hotel on Revere Beach, with Eurovest is in final discussions with a hotel developer to bring a Marriot or Hilton to Waterfront Square.
Eurovest is the master developer of the Waterfront Square Transit Oriented Development (TOD) project. They have informed Mayor Rizzo and his economic development team that he has finalized an agreement with a hotel development company that will build a Marriot or Hilton hotel with at least 150 plus rooms. The project is slated to get under way in the first part of 2016.
This hotel is a keystone to the waterfront square project and the commercial development at Wonderland Station.
“This is the fulfillment of three years of work to bring a new hotel to Revere. That this new hotel will be built at Waterfront Square underscores our strengths as a community - our proximity to Boston, our historic waterfront, and access to public transportation” said Mayor Rizzo. “This is a promise I made at the start of my administration, and its a sign of the great things ahead for Revere over the next few years.”
Since becoming mayor in 2011, Dan Rizzo has made it a priority to bring new commercial tax revenues and jobs to Revere to offset residential property taxes. Not only will this hotel bring jobs, but it will attract many sources of revenue for the town with minimal costs. The new hotel will attract travelers to come spend their money at local businesses as well as provide a significant source of new tax revenue for the town, enabling Revere to stabilize residential property taxes.