News

Wynn Boston Harbor Killing Off 80% Of Its Retail Space, Citing E-Commerce Competition

Despite its initial proposal, including a variety of high-end shopping, the Wynn Boston Harbor in Everett will not compete with the region's retail hubs when it opens in 2019.

Wynn Boston Harbor president Robert DeSalvio informed the Massachusetts Gaming Commission this month the amount of retail space at the $2.4B Everett casino would drop by more than 80%. While speaking before the MGC in 2014, Wynn Resorts CEO Steve Wynn said the the project could feature up to 100K SF of luxury retail akin to bringing Newbury Street to Everett, the Boston Globe reports.

The complex broke ground last year with plans still calling for 53K SF of retail. That figure has since been reduced to 9K SF (roughly the size of a Chili’s and freestanding bank branch combined). DaSalvio pointed to shoppers preferring to shop online as motivation for the smaller retail footprint. A spokesperson for Wynn Boston Harbor told Bisnow there will only be five Wynn-owned stores when the complex opens.

Retail is undergoing a seismic shift, with many brick-and-mortar chains closing their stores by the hundreds. The number of retailer bankruptcies in the last year has already surpassed the height of the Great Recession.

The company is heeding advice from area leaders to satisfy the demand for more event space. The casino and hotel project’s ballroom will triple in size using some of the space set aside for shops. The 36K SF ballroom will be the second-largest in the city, after one at the Boston Convention & Exhibition Center in the Seaport.

Continue reading this story with a free account

Log in or register
Related Topics: Wynn Everett , Wynn Resorts
Sign up for more articles like this
Subscribe to Bisnow's Boston Newsletters
Related Stories

Deutsche Bank Files $260M Foreclosure Suit For Broward County Mall

After Years Of Rising Vacancy, Kendall Square Starts To Gain Momentum From AI

Success Of Top-Tier Malls Masks Enduring Distress In Sector's Underbelly

Holographic Zoo Leases 51K SF Coconut Grove Building For First Location

Hines Spends $170.5M On Mixed-Use Portfolio In Dallas' Bishop Arts District

Local Investor Pays $30M For Block 37 In Heart Of Downtown Chicago

How UK Investment Giant L&G Plans To Grow Its U.S. Multifamily Holdings

Cambridge Residential Tower Secures $522M Loan: The Boston Deal Sheet

M Core Extends Its Retail Shopping Spree

Oprah-Backed Health Food Chain Files For Bankruptcy, Seeks To Exit Leases

Healey Nominates New Opportunity Zones, Targeting Sites Of Major Projects

Federal Realty Spends $508M On Alabama Power Center