Wynn Boston Harbor Purchases More Lower Broadway Properties

October 27, 2017
By

By Seth Daniel

Wynn Boston Harbor has purchased at least three new, off-site Lower Broadway properties over the past month, adding to an array of properties already purchased in the last 18 months.

The Everett resort casino spent $2.795 million to purchase at least three properties on Thorndike Street, Lynde Street and Scott Place in the last month.

Wynn Boston Harbor officials said they had no immediate plans for the newly purchased properties, but would work with the City for a vision.

“These purchases are consistent with our commitment to support Mayor DeMaria’s Lower Broadway Master Plan,” said Bob DeSalvio, president of Wynn Boston Harbor. “Like any prudent developer, we have a responsibility to invest in our host community and play an active role in what will be built around us. We are studying different options for the sites and will work closely with the City of Everett to bring even more vitality to Lower Broadway.”

The properties were all purchased through separate Limited Liability Corporations (LLCs), but were registered to Wynn executive Jacqui Krum – whose name appears on almost all Wynn property purchases made to date.

The properties purchased include:

  • 11 Thorndike Street, from Domenic Aiello for $1.5 million on Sept. 29.
  • 28/28A Lynde Street, from Bijeta Shrestha for $745,000 on Sept. 29.
  • 6 Scott Place, from Anthony Lori for $550,000 on Sept. 13.

Wynn Boston Harbor has said that it doesn’t plan to buy everything on either side of Lower Broadway, but there were some properties the wanted for strategic reasons and also properties they needed for projects like the upcoming new Truck Route.

The most recent properties purchased are notable in that they are more than a block from Lower Broadway and some distance from the actual casino site.

Previously, the Independent reported in a July 2016 story that Wynn Boston Harbor had spent $10.125 million in six months to buy numerous properties along the Lower Broadway corridor. The most expensive property in the lot was LTI Limo, which they purchased for $5.65 million.

Since that time, LTI has secured permits and plan for a move to Chelsea’s Eastern Avenue corridor.