First Phase of Market Central, Union House, Now Open
Union House, the first building within Central Square's newest residential development, Market Central is now open. Apartments within Union House range from studios renting for around $2500 per month through three bedroom, 2 bathroom homes going for $4500.
Link, the second building in the project is also nearly complete, with interior finishing wrapping up. Link will feature an abundance of common spaces including a roof terrace, shared kitchen, lounge, and game room. The final building in the development, WaterMark Central is expected to open in 2020. In total Market Central will feature 308 apartments and 17,000 square feet of retail space.
Window and Facade Install Nearly Complete for Waterside Place Phase 1B
Just last month the project topped off and now window install has already reached the top floors for Waterside Place Phase 1B. The new luxury apartment tower will feature 307 apartments and 3,500 square feet of ground-floor retail. Located directly next to the MBTA Silver Line the transit-oriented development does include parking for just 84 cars. The building expects to welcome first residents in winter 2020.
Commonwealth Pier Revitalization Approved
The Boston Planning Board has approved the revitalization project of the Seaport World Trade Center and Commonwealth Pier. The project will replace the existing exhibition hall with new public realm spaces and improvements and expanded ground-floor retail space, as well as creating new flexible and innovative office space and first-class event spaces. The development team will also renovate the historically significant Headhouse to include more activated and enhanced spaces for the public.
Interior Finishing Nearly Complete for The Harvey
Interior finishing is wrapping up for Charlestown's newest luxury residential project, The Harvey. The 177 unit project is expected to welcome first residents in mid-August. Units at The Harvey range in size from studios at 475 square feet starting at $2215 per month up to 2 bedroom, 2 bathroom homes featuring over 1,000 square feet of living space renting for over $4,000 per month. Resident amenities include an outdoor courtyard with city views, a fitness/yoga studio, a social lounge, and a dog wash station. The Harvey is targeting LEED Platinum-certifiable.
TCR Development and JB Ventures Acquire Hotel Alexandra
TCR Development and JB Ventures have acquired the Hotel Alexandra property for $11 million.
The property features 8,025 square feet of land located at the corner of Massachusetts Avenue and Washington Street, on which stands a five-story, 27,367-square-foot vacant historic building built in 1875 formerly home to a luxury hotel, Hotel Alexandra. The building stands on a 5,167-square-foot lot and features 12+ foot ceilings with abundant natural lighting. Retail is located along the building's ground floor; the building also features a full basement. A 2,858-square-foot vacant parcel is located adjacent to the building. 1759-1769 Washington Street is located across from the Massachusetts Avenue MBTA Silver Line rapid transit station a short drive or public transit ride to Downtown Boston.
The approved joint venture project between JB Ventures and TCR Development calls for full restoration of the existing facade and construction of a new 12 story boutique hotel with 150 rooms and ground floor retail space.
Carr Properties, National Real Estate Advisors and the HYM Investment Group Break Ground on One Congress
Mayor Martin J. Walsh, Carr Properties, National Real Estate Advisors and The HYM Investment Group broke ground today on One Congress, the 600-foot tall office tower that will house the future headquarters of State Street Corporation. The building, part of the Bulfinch Crossing redevelopment, is owned through a 50-50 joint venture between Carr Properties and National Real Estate Advisors on behalf of a client; The HYM Investment Group, LLC. is the developer of the project.
Designed by world-renowned architects Pelli Clarke Pelli, One Congress will rise to 600 feet, becoming a new fixture of the Boston skyline, and providing employees that occupy the one million square feet of new class A office space with breathtaking panoramic views of the city, the Boston Harbor, Financial District, and the Charles River. One Congress will offer access to world-class amenities such as a one-acre, outdoor roof garden on the eleventh floor, over 30,000 square feet of fitness, wellness, food and beverage offerings, as well as bike facilities and copious parking.
This groundbreaking event marks the ceremonial beginning of construction on the office tower portion of the Bulfinch Crossing project, which is slated to be completed by the end of 2022.
"As the future home for State Street's headquarters, One Congress will fuel economic development and pedestrian activity in Bulfinch Crossing," said Mayor Walsh. "Once complete, this transformational project will support our city, creating income-restricted housing units and contributing over $12 million in linkage funding to support additional affordable housing and workforce development programming."
Situated at the epicenter of prime transportation options—three blocks from North Station, immediate access to the Haymarket MBTA Station (located on site), with proximity to Logan Airport, and I-93 and I-90, and featuring a 99-point Walk Score—the office tower embraces transit-oriented development and a multi-modal future. Likewise, One Congress'proximity and accessibility to the Rose Kennedy Greenway and other iconic Boston neighborhoods that surround it such as the North End, Beacon Hill, and West End, provide a dynamic ground-level experience, making it one of the most sought after places to work in the city.
"We are very excited to be working alongside Carr Properties and HYM on this transformative office tower," said Jeff Kanne, President, and CEO of National Real Estate Advisors. "One Congress exemplifies National's commitment to building modern, vanguard assets which generate returns for our investors, strengthen communities, and create good jobs."
"We are incredibly excited about One Congress. This is a generational opportunity to own and develop an iconic building that will contribute to the fabric of Boston for many years to come. Additionally, we are thrilled to welcome State Street as our customer and we look forward to building a tremendous long-term relationship with them" said Oliver Carr, Chief Executive Officer of Carr Properties.
In January 2019, State Street Corporation, the Boston-based Fortune 500 financial services firm, announced that it would be relocating its headquarters to One Congress, occupying 510,000 square feet of the one million square feet that the building will offer.
"State Street is honored to make history in Boston again as the anchor tenant of One Congress; a landmark building that is setting the standard for sustainable design and new ways of achieving workplace creativity and connectivity," said Ron O'Hanley, president and chief executive officer of State Street. "We are today a global company with offices in 28 countries around the world, but throughout our history, we have always been headquartered in Boston. We are delighted to break ground on our new headquarters and look forward to many more years of contributing to a sustainable and inclusive future for the Commonwealth of Massachusetts and the city of Boston, our home for more than 227 years."
Bulfinch Crossing is transforming the existing Government Center garage site into one of the most vibrant developments in downtown Boston, and upon completion, will feature over 2.9 million square feet of first-class residential, office, hotel and retail offerings featuring more than 800 residential units, 200 hotel rooms, 1.15 million square feet of office space, and 82,500 square feet of new retail.
"Once completed, One Congress will stand as one of the most distinctive and defining buildings built in Boston in the last two decades," said developer Thomas N. O'Brien, founding partner and managing director of The HYM Investment Group. "Demand for office space in the city has never been higher, and with our partners in One Congress, we are bringing over a million square feet of new, Class A office space onto the market to meet that demand in an accessible location where Bostonians want to live and work."
The Smith South End Has Topped Off
The Smith in Boston's South End has topped off, reaching its 11th floor. Facade install has also started on the project. When complete, The Smith will feature a total of 650 apartments, 80,000 square feet of office space and 20,000 square feet of ground-floor retail. The existing buildings at 575 Albany Street and 660 Harrison Ave. are being retained and renovated as part of the development. First units in the project are expected to be complete in Spring 2020.
The Last Tower Crane Has Come Down At EchelonSeaport
Over the course of the last 12 months, EchelonSeaport development has operated with as many as four tower cranes on site. Last week, the final crane was removed as shown on the image below. This important milestone signals completion of the "structural" phase of the Project including the curtainwall façade on all 3 towers. We have now fully progressed onto the "finishes" stage of construction.
133 Seaport (Tower 1)
Plumbing & Electrical Work: In progress and completed through floor 20
Kitchen and Vanity Cabinets: Installation has started
Wood Flooring & Bathroom Tiles: Completed through floor 9
Interior & Exterior Amenities: Continues to progress with the lobby fireplace frame now installed, and the waterfall pool framing completed
135 Seaport (Tower 2)
Wall Framing: Completed through floor 17
Interior Paint: Started on the lower floors
Bathroom Tile Installation: Started last week
Waterside Place Phase 1B Tops Off
The 23-story tower at 501 Congress Street next to the MBTA Silver Line station has topped off. Waterside Place Phase 1B will include 307 apartments along with 3,500 square feet of retail space. Resident amenities will include a resort style pool, fitness center, pet spa, and an outdoor lounge. Construction is set to be complete in 2020.
Taj Renovations Approved by BDPA
The Boston Planning Board has approved the large scale renovation project to the Taj Hotel across from the Boston Public Garden. The plans call to update the existing guest rooms and add 12 additional rooms. Work will also be done to permanently enclose the existing seasonal rooftop restaurant. The hotel's main entrance will also be relocated from Arlington Street to Newbury Street. This change will enhance the public realm by creating a raised, accessible entry, refurbishing the existing canopy on Arlington Street, and adding street trees.
Courtyard Marriott Hotel at The Beverly Refinanced for $90 Million
The Courtyard Marriott Hotel at The Beverly in Boston has been refinanced for $90 million via HSBC Bank.
The 220-room Courtyard Marriott hotel is part of the 14-story mixed-use building featuring 239 top-quality, mixed-income apartment residences, that also features 10,000 square feet of ground-floor retail.
Construction Rapidly Progressing for EchelonSeaport: First Units Expected to Welcome Residents Later This Year
Construction is rapidly progressing for EchelonSeaport with window and facade install nearly complete for the third and final tower in the project. Along Seaport Boulevard interior finishing is ongoing for 133 Seaport, a Regent Collection, expected to be complete by the end of this year. 135 Seaport and the multifamily building will be complete in later 2019, early 2020.
These three towers will contain 1.3 million square feet of development including 717 residences and 125,000 square feet of retail and restaurant space. Over 60,000 square feet of indoor and outdoor amenity space will also be included in the project, complete with two signature outdoor pools, an indoor pool, expansive sun decks, engaging courtyards, and oversized private terraces.