HYM Investment Group’s redevelopment of Boston’s Government Center garage property has received $180 million in short-term financing from Oxford Properties Group.
Boston-based HYM Investment Group is set to acquire the 161-acre Suffolk Downs racetrack property in East Boston and Revere for $155 million today, laying the groundwork for a mixed-use development that could reshape a large stretch of the Blue Line corridor.
The Massachusetts Gaming Commission approved the sale of East Boston’s Suffolk Downs racetrack to Boston-based HYM Investments with plans for the current owners to continue to use the 161-acre property for racing events in 2017 and 2018.
Redevelopment of the 161-acre Suffolk Downs racetrack property on the East Boston-Revere border could be imminent with a possible sale to a well-known Boston developer.
The 2.9 million-square-foot mixed-use project widely known by the unmusical appellation of the Government Center garage redevelopment project has a new name: Bulfinch Crossing.