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Boston-based real estate developer Thomas O’Brien has announced he will not run for mayor this year.

News reports claimed that O’Brien, a managing partner and CEO of The HYM Investment Group, was planning to challenge Mayor Michelle Wu, who is seeking a second term. Instead, NBC Boston reports that he will not seek elected office.

“My commitment to Boston remains unwavering,” said O’Brien in a statement. “I’ll keep working to make our city a more affordable, inclusive and vibrant place to live, work and thrive — and I look forward to partnering with Mayor Wu, her administration and others to help achieve that vision.”

O’Brien is a former director and chief of staff of the Boston Redevelopment Authority but never ran for office. With O’Brien out of the race, Wu is likely to face challenges from Josh Kraft, the son of New England Patriots owner Robert Kraft, and community activist Domingos DaRosa.