RISE, a minority-owned developer and construction firm based in Boston, has received approval from the Boston Planning and Development Agency (BPDA) for phase one of the Sullivan Square Redevelopment project in Charlestown. The project, known as “40 Roland Street,” will transform five parcels into a 750,000-square-foot mixed-use development featuring lab/office space, residential units (with 20% designated as affordable), retail/restaurant space, and public parks. This job-centric mixed-use environment aims to promote equitable outcomes and contribute to the neighborhood’s growth in the innovation sector.
The development team consists of RISE along with TRAX – another minority developer based in Boston – and architectural design firm CBT. Sustainability is also a top priority for this project; it aims to meet LEED Gold standards while reducing energy consumption by over 35%. Groundbreaking for the residential buildings is expected soon.
This redevelopment initiative brings both housing options and lab facilities to Charlestown without mentioning any specific organizations or locations such as Connect CRE or Connect LA/Texas.
