Detailed South Boston Power Plant redevelopment plans revealed
Developers Redgate and Hilco Global have revealed detailed plans of the proposed 2.1-million-square-foot South Boston Power Plant redevelopment. In total, 1,588 residential units, 339,639 square feet of office space, a 150-key hotel, and 68,077 square feet of retail and restaurant space, in addition to 987 above-and-below-grade parking spaces, are proposed at the site. Eight new buildings would be constructed at the site, and three existing turbine halls would be rehabilitated; building heights would range from 44 to 220 feet. More information about the latest proposed power plant redevelopment plans is posted above. Plans for the proposed project have been filed with the Boston Planning & Development Agency (BPDA), who is now reviewing the project.
2.1 million square foot development envisioned at South Boston power plant site
Proponents Redgate and Hilco Global have revealed new details of the upcoming development of the 15.2-acre Edison power plant site on Summer Street in South Boston. In total, per a Letter of Intent filed with the Boston Planning & Development Agency (BPDA), 2.1 million square feet of residential, office, hotel, retail and restaurant space would be developed, along with parking.
The proposed project would provide South Boston with an inviting new gateway. Eight new multi-story buildings would be constructed, and three architecturally-significant turbine halls, which run end-to-end through the site’s center, would be rehabilitated. The turbine hall would become the project’s “heart and soul.”
The proposed development would be constructed over the next 10 to 15 years. The Boston Planning & Development Agency (BPDA) is now reviewing the proposal. Additional information and newly revealed renderings are posted above.
South Boston Power Plant development preparations underway
Preparations are underway for the development of the 18-acre South Boston Power Plant site, located at the intersection of Summer and First streets in South Boston. The last remaining electricity generator has been lifted out of the power plant building, bringing 120 years of electricity generation to a close and allowing development to proceed:
Mixed-use development envisioned for South Boston Power Plant site
Developers Hilco Global and Redgate, who acquired the 18-acre South Boston Power Plant site in April 2016 for $24.25 million, envision developing housing, office space, retail and a possible hotel at the site according to a Banker & Tradesman report. The developers are studying how to lay out new buildings on the site and are looking to preserve some historic buildings; the main power plant building will likely not be preserved. “We’re definitely looking to keep some buildings or at least a building, but probably not the big one,” said Redgate principal Ralph Cox. “To our knowledge it has no redeeming value, but there are a building or two that if structural or marketplace conditions dictate, we’re looking to assess that and see if it’s possible.”
The developers have hired SGA as a land planner and Geosyntec as an environmental consultant. One of the primary goals of the developers is to encourage public access to the Boston Harbor waterfront. “We have to find the right balance to connect to the neighborhood and really open up the waterfront that hasn’t been open for the last 100 years,” said Cox. The development team hopes to file formal plans for the South Boston Power Plant project with the Boston Planning & Development Agency (BPDA) in Early 2017.
South Boston power plant sale closes for $24.25 million
The sale of the South Boston Power Plant to a development partnership of Redgate and Hilco Global closed today for $24.25 million per a deed recorded in the Suffolk County Registry of Deeds. The following is the recorded deed:
More information about the South Boston Power Plant is posted below.
Redgate and Hilco Global reach deal to buy South Boston Power Plant
The Boston Globe reports that developers Redgate and Hilco Global are partnering to buy the South Boston Power Plant site. The partners have reached a deal with current owner Exelon Corporation and will close on a sale by the end of June.
According to Hilco Global spokesman Gary Epstein, the development team will strive to preserve historically significant details on the South Boston Power Plant site. A Massachusetts Department of Environmental Protection currently prohibits residential construction on part of the site; however, with additional cleanup, residential construction could be permitted. More information about the South Boston Power Plant site is posted below.
Local developer Redgate is developing residential buildings including West of Chestnut in Quincy and One North of Boston in Chelsea. Redgate is also a development partner for pharmaceutical buildings including 75|125 Binney and 610 Main Street in Kendall Square. Hilco Global specializes in redeveloping "obsolete industrial sites" and is currently leading the transformation of a 3,400 acre Baltimore steel plant site into a logistics center.
Owner Exelon Corporation has listed South Boston's former Boston Edison power plant site for sale. The site is located at First and Summer streets in South Boston. Sources familiar with the sale report that at least six developers have bid on the site. Furthermore, it is likely the site would be developed into a mixed-use development project with both residential and commercial space.
Exelon Corporation hopes to close a sale for the site this year. More information about the property is posted below.