Northmarq is pleased to present the Silsbee Street Opportunity Zone Development Site, a ±167-unit 5-Over-1 entitled multifamily development opportunity located at 50 Silsbee Street in Lynn, Massachusetts. Situated within Lynn’s TOD district and 80 feet away from the Lynn Interim Station, the subject property provides direct access to Massachusetts Bay Transportation Authority (MBTA) Commuter Rail service to Boston’s North Station, offering residents seamless connectivity to Downtown Boston, Boston Logan International Airport, and the broader metropolitan employment base. Lynn’s appeal extends well beyond its commuter access. As the largest city on Boston’s North Shore, Lynn offers a distinctive coastal lifestyle with oceanfront parks and beaches minutes from the subject property. Downtown Lynn has a revitalized downtown with a growing arts and dining scene, a transforming waterfront anchored by the new 22-acre Lynn Harbor Park, and Lynn Woods Reservation, one of the largest municipal parks in the country. As affordability challenges persist in Boston, Cambridge, and other urban markets, Lynn delivers a comparable quality of life at a more attainable cost, positioning it as a destination rather than just a commuter alternative.
The subject property is further enhanced by its location within a Qualified Census Tract (“QCT”), Difficult Development Area (DDA), and Opportunity Zone, creating multiple avenues for value creation through potential tax incentives, housing related programs, institutional capital investment and significant barriers to entry. The blend of ongoing public and private investment, downtown revitalization efforts, and Lynn’s growing appeal as a transit oriented residential destination has made Silsbee Street Opportunity Zone Development Site uniquely positioned to capitalize on the increasing imbalance of demand for and supply of multifamily housing within the Greater Boston region. With entitlements already secured for 50 Silsbee Street, developers can accelerate execution while avoiding the lengthy and uncertain approval process that is common throughout the Greater Boston area.
