Everett, Massachusetts, January 6, 2026
Everett, Massachusetts is undergoing significant economic growth, highlighted by substantial private investments in the Encore Boston Harbor expansion, which includes new hotels and a soccer stadium. The development aims to boost local job creation, enhance infrastructure, and transform the waterfront into a vibrant entertainment and community hub, with important environmental restoration initiatives also planned to improve water quality in the Mystic River.
Everett’s Economic Boom: Hotels, Stadium, & Growth
Everett, Massachusetts, is experiencing a remarkable period of economic growth and transformation, fueled by significant private investments and strategic urban development. This dynamism highlights the power of entrepreneurial vision and collaborative leadership in revitalizing post-industrial landscapes. The city’s evolving waterfront, once characterized by industrial sites, is rapidly becoming a hub of entertainment, hospitality, and community engagement, drawing attention to the sustained efforts by local leaders and developers to unlock new opportunities for job creation and prosperity for Boston MA business. These developments underscore a commitment to fostering environments where enterprise can flourish, contributing to a vibrant regional economy.
The recent agreements involving major entities like Wynn Resorts and the Kraft Group signify a pivotal moment for Everett and the broader Greater Boston area. These initiatives are designed not only to boost the local economy through substantial investment but also to enhance the quality of life for residents by introducing new amenities, improved infrastructure, and a renewed connection to the Mystic River waterfront. Such large-scale private sector undertakings exemplify how strategic planning and private capital can drive significant progress in urban renewal and regional development, providing a blueprint for Massachusetts entrepreneurs and beyond.
Encore Boston Harbor’s Visionary Expansion
Encore Boston Harbor is set to significantly expand its footprint with an agreement for the development of up to two new non-gaming hotels on Lower Broadway in Everett. This expansion project, which had been previously discussed and delayed, is now back on track, promising a substantial boost to the local hospitality sector. The plan includes a commitment from Wynn Resorts to fund up to $25 million toward studies and the construction of a commuter rail stop, enhancing connectivity and accessibility for the area.
The expansion also details a new entertainment venue with approximately 999 seats, a second hotel tower featuring more traditional rooms at a different price point than the existing luxury suites, and a large parking garage with over 2,000 spaces. This comprehensive development aims to transform the area into a broader entertainment district, moving beyond solely casino operations. Former Mayor Carlo DeMaria announced this deal in the final hours of his administration, with projections indicating the new hotels could be completed by 2028. The new Mayor, Robert Van Campen, is currently reviewing these agreements to ensure maximum benefits for Everett residents.
Revolutionizing the Waterfront: New Soccer Stadium
In another major development, an agreement has been reached for a new home for the New England Revolution soccer team in Everett. The Kraft Group finalized deals with both the cities of Boston and Everett to construct a 25,000-seat stadium on a site along the Mystic River, which previously housed an inactive power plant. This privately funded investment is estimated to cost around $500 million. The project includes the demolition of the former power plant, extensive environmental cleanup, and the creation of a nearly four-acre waterfront park accessible to the public.
The agreements stipulate significant community benefits. Boston is set to receive approximately $48 million over 15 years, while Everett will benefit from over $90 million across 20 years in direct payments, infrastructure investments, and other community provisions. Additionally, Everett will receive a $2.25 fee for every ticket sold for soccer matches, and Boston will receive $1 per ticket for soccer matches and 1.5% off concert tickets. Boston Mayor Michelle Wu expressed satisfaction with the agreement, recognizing its potential to enhance Boston’s position as a sports and entertainment capital. The stadium project is anticipated to take about four years from demolition to completion.
Economic Ripple Effects and Community Benefits
These transformative projects are poised to generate significant economic ripple effects throughout the region. The initial construction of Encore Boston Harbor represented a $2.6 billion investment, creating over 5,200 union jobs and 10 million labor hours. It also significantly stimulated the local economy, with approximately $32 million in contracts awarded to Everett-based firms during its construction. Annually, Encore Boston Harbor employs nearly 5,000 people with a payroll exceeding $170 million and projects around $200 million in yearly tax revenues and fees.
The ongoing expansions and the new stadium development will further stimulate job creation, support Boston small business growth through increased demand for goods and services, and attract more visitors to the area, bolstering the tourism market. The commitment to infrastructure improvements, such as the new commuter rail stop, will also facilitate easier access for residents and visitors, further integrating Everett into the regional economic fabric. These projects showcase the substantial benefits that can arise from large-scale private investment when aligned with local community needs and strategic development goals.
Infrastructure Investments and Environmental Stewardship
Beyond the immediate economic advantages, both the Encore Boston Harbor expansion and the New England Revolution stadium project include vital environmental and infrastructure commitments. A significant benefit of the Encore Boston Harbor deal is its contribution to the cleanup of Boston Harbor and the Mystic River. Prior to its opening, Encore Boston Harbor invested $68 million to remediate and restore a portion of the Mystic River, removing large quantities of contaminated soil and sediment. This initiative drastically improved water quality and restored river shoreline, creating a valuable resource for the community.
The stadium project similarly commits to significant environmental remediation and demolition of the former power plant site, transforming a neglected industrial area into a publicly accessible waterfront destination with a new park. These efforts align with broader regional goals for environmental restoration, such as ongoing initiatives to improve water quality in the Mystic River watershed and address combined sewage overflows. Such large-scale private investments demonstrate how economic growth can be harmonized with crucial environmental stewardship, leading to sustainable regional development and enhanced public spaces for enjoyment and recreation.
Furthermore, Encore Boston Harbor received a Category 1 Sports Wagering Operator License in December 2022 and launched its sportsbook in January 2023, adding another dimension to its entertainment offerings and contributing to state tax revenues. The Massachusetts Gaming Commission oversees these operations, ensuring compliance with state regulations.
Everett’s ongoing economic resurgence is a testament to the power of private sector investment, entrepreneurial innovation, and strategic partnerships with local government. The substantial capital flowing into the city, particularly through the Encore Boston Harbor expansion and the New England Revolution stadium, is not merely building structures but is actively shaping a more prosperous, accessible, and environmentally conscious future for the community. As these projects advance, they will continue to create jobs, generate tax revenues, and enhance the quality of life, positioning Everett as a beacon of regional development and opportunity for Massachusetts entrepreneurs and businesses. Residents and visitors alike are encouraged to engage with and support the thriving local businesses that form the backbone of this vibrant Boston MA business landscape.
Stay informed about the continued progress and the evolving economic landscape of our city. Your engagement and support for local businesses are crucial as Everett steps into a new era of growth and innovation.
Frequently Asked Questions about Everett’s Development
What are the new developments planned for Everett?
Everett is set for significant development with the expansion of Encore Boston Harbor, including up to two new non-gaming hotels and a commitment to fund a commuter rail stop. Additionally, a new 25,000-seat New England Revolution soccer stadium is planned, along with a four-acre waterfront park.
What is the expected economic impact of these projects?
The projects are expected to generate substantial economic benefits, including job creation, increased tax revenues for Everett and Boston, and significant private investment. Encore Boston Harbor already contributes approximately $200 million each year in tax revenues and fees.
What environmental benefits are associated with these developments?
Both the Encore Boston Harbor expansion and the Revolution stadium project include environmental remediation efforts. Encore Boston Harbor previously invested $68 million to clean and restore a portion of the Mystic River. The stadium project involves the demolition of a former power plant and environmental cleanup, creating a publicly accessible waterfront park.
When are the new hotels at Encore Boston Harbor expected to be completed?
The new hotels at Encore Boston Harbor are projected to be completed by 2028.
What is the capacity of the new New England Revolution stadium?
The new New England Revolution stadium is planned to have a seating capacity of 25,000.
Key Features of Everett’s Major Development Projects
| Feature | Encore Boston Harbor Expansion | New England Revolution Stadium |
|---|---|---|
| Location | Lower Broadway, Everett, MA (across Mystic River from existing resort) | Former power plant site along Mystic River, Everett, MA |
| Key Components | Up to two new non-gaming hotels, new entertainment venue (999 seats), second hotel tower, large parking garage, commuter rail stop funding. | 25,000-seat soccer stadium, 4-acre public waterfront park, environmental cleanup, demolition of former power plant. |
| Estimated Investment | Not explicitly stated for expansion, but existing resort was $2.6 billion. Wynn Resorts to fund up to $25 million for commuter rail stop. | Approximately $500 million. |
| Community Benefits (Everett) | New tax revenue, job creation, improved transportation infrastructure (commuter rail stop). | Estimated $91.7 million over 20 years, $2.25 per soccer ticket sold, environmental remediation, public waterfront access. |
| Community Benefits (Boston) | Cleanup for Boston Harbor and Mystic River. | Approximately $48 million over 15 years, $1 per soccer ticket sold, 1.5% off concert tickets. |
| Projected Completion | Hotels by 2028. | Approximately four years from demolition start. |
| Environmental Aspects | Wynn Resorts committed to environmental remediation standards; existing resort invested $68 million for Mystic River cleanup. | Significant environmental remediation and demolition of power plant, creation of public waterfront park. |
| Additional Offerings | Category 1 Sports Wagering Operator License, launched sportsbook in January 2023. | Venue for professional sports, concerts, public markets, and community programming. |
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