Jan 07, 2019
Congress Square Refinanced for $190.73 Million
The Congress Square development located in Boston's Financial District has been refinanced for $190.73 million.
The project consists of a 458,300-square-foot mixed-use development featuring a state-of-the-art hotel, office, residential and retail space located in the heart of Downtown Boston overlooking Post Office Square. Five historic buildings will be fully restored, and new additions will be constructed for a total of 92,700 square feet of new construction.
Aug 20, 2018
WeWork Continues Congress Square Fit Out
Electrical work is now being completed in WeWork's biggest Boston location. The company agreed to lease 97,000 square feet of office space on floors 2-5 at the Water Street location back in June.
The upcoming 458,300-square-foot mixed-use development featuring state-of-the-art hotel, office, residential and retail space is located in the heart of Downtown Boston overlooking Post Office Square. Projected completion is slated for Fall 2018.
Aug 16, 2018
Historic Renovation Ongoing for Congress Square Development
Renovation is ongoing of the five historic buildings in the upcoming Congress Square development in Downtown Boston. New construction of an additional 93K square-feet is also well underway on the project. When complete Congress Square will feature over 458,000 square-feet of mixed-use space including a Hyatt Centric hotel, modern office space, retail, and 35 condominiums. This unique design blends the historic character of the buildings with a modern aesthetic and amenities.
Mar 27, 2018
Less than two years after, Related Beal sold the buildings at 15 and 19 Congress Street for $14.55 million to Thibeault Development the latter has turned around and sold the two buildings (totaling 54,461 square feet) to Boston based, Hempisphere Development Group, LLC for $19 million.
The buildings are part of the Congress Square project which is a full city block comprised of office, retail, luxury residential and boutique hotel uses with unparalleled branding and high profile signage opportunities.The building will also be reconfigured for over 35,000 square feet of retail along Congress, Water and Devonshire Streets, with both street and interior access to certain spaces.
Feb 22, 2018
Congress Square “jewel box” office addition glassed in
The seven-story “jewel box” addition atop the office component of Congress Square, a mixed-use development overlooking Post Office Square, is now glassed in with a floor-to-ceiling, high-performance glass curtain wall facade. With the addition sealed, the construction team will now turn towards fitting its’ interior out with electrical and HVAC utilities in order to prepare for construction of tenant office space, as well as constructing the addition’s exterior green roof deck.
Congress Square’s 16-story, 284,600-square-foot office component will be anchored by the 200,000-square-foot joint headquarters of advertising agencies DigitasLBi and Publicis.Sapient. Additionally, a 165-key Hyatt Centric boutique hotel is being constructed on site, and 35 condominium residences are approved for construction. A total of 36,650 square feet of retail space will be constructed at Congress Square along Quaker Lane, a pedestrian-friendly arcade that will be located at the 458,300-square-foot development’s center. The following is a photograph of the glassed-in office addition:
Nov 03, 2017
Congress Square office component tops off
A topping-off ceremony was held today for the seven-story steel jewel box addition atop Congress Square’s office component, which will be anchored by the joint headquarters of advertising agencies DigitasLBi and Publicis.Sapient. Overlooking Post Office Square and Downtown Boston, the addition will contain office space as well as amenities including an exterior green roof deck. The resulting office structure, developed by Related Beal, will feature 284,600 square feet of space, including the two advertising agencies’ 200,000-square-foot headquarters.
Congress Square’s hotel component is also well underway, with vertical concrete construction beginning on the 13-story addition alongside the existing building at 68 Devonshire Street. The resulting 85,700-square-foot Hyatt Centric boutique hotel, developed by Magna Hospitality Group, will feature 165 keys, in addition to ground-floor retail/restaurant space.
In total, Congress Square will feature 458,300 square feet of space. Owner Thibeault Development has listed the development’s approved residential component, located at 13-21 Congress Street, for sale. The existing buildings, which are vacant and in shell condition, are fully permitted for conversion to 35 condominium residences with ground-floor retail, including vertical expansion by 7,000 square feet to 61,450 total square feet. A total of 36,650 square feet of retail space will be constructed at Congress Square along Quaker Lane, a pedestrian-friendly arcade that will be located at Congress Square’s center. The office building and hotel, both of which will contain ground-floor retail, are slated for completion in the second quarter of 2018. The following are photographs of the topped-off office building:
The following are photographs of the under-construction hotel building:
Oct 15, 2017
Congress Square residential component offered for sale
Thibeault Development, owner of the approved residential component of the 458,300-square-foot Congress Square mixed-use development in Post Office Square, has listed the existing buildings approved for residential conversion for sale through Colliers International. Thibeault Development acquired the two existing buildings at 13-21 Congress Street, which are currently vacant and in shell condition and total 54,450 square feet, for $14.55 million in August 2016. The buildings are fully permitted for conversion to 35 condominium residences with ground-floor retail, including vertical expansion by 7,000 square feet to 61,450 total square feet. Colliers’ listing touts the buildings’ potential for office use in addition to residential.
Upon completion as approved, Congress Square will feature 458,300 square feet of space, including a 284,600-square-foot office building developed by Related Beal that will be anchored by the 200,000-square-foot joint headquarters of advertising agencies DigitasLBi and Publicis.Sapient, a 165-key, 85,700-square-foot Hyatt Centric boutique hotel developed by Magna Hospitality Group, 51,350 square feet of residential space containing 35 condominiums and 36,650 total square feet of retail space. Retail will be oriented about Quaker Lane, a pedestrian-friendly arcade that will be located at Congress Square’s center. The office building and hotel, both of which will contain ground-floor retail, are slated for completion in the second quarter of 2018. Congress Square was originally proposed by Related Beal, who acquired the property in 2013. Following the project’s approval in 2015, Related Beal sold the hotel component to Magna and the residential component to Thibeault.
Sep 14, 2017
Steel vertical addition rising at Congress Square office building in Post Office Square
The first two floors of the seven-story steel jewel box addition atop Congress Square’s future office building have been erected, with construction of the building’s concrete elevator core complete. In addition to office space, the addition will contain amenities including an exterior green roof deck overlooking Post Office Square and Downtown Boston. Congress Square’s 284,600-square-foot office component, developed by Related Beal, will be anchored by the 200,000-square-foot joint headquarters of advertising agencies DigitasLBi and Publicis.Sapient, with additional office space and ground-floor retail space now leasing.
In total, Congress Square will feature 458,300 square feet of space, including a 85,700 square foot Hyatt Centric boutique hotel, whose foundation is now under construction, developed by Magna Hospitality Group and 51,350 square feet of residential space developed by Thibeault Development. A total of 36,650 square feet of retail space will be constructed at Congress Square along Quaker Lane, a pedestrian-friendly arcade that will be located at Congress Square’s center. The following are photographs of the office building’s steel addition:
Apr 23, 2017
Hyatt Centric hotel coming to Congress Square in Financial District
Hyatt Hotels Corporation has announced it will open a Centric hotel, Hyatt’s new millennial-minded, upper-upscale lifestyle boutique hotel brand, at the 458,300 square foot Congress Square development in the Financial District. The new hotel, Hyatt Centric Boston, is expected to open in 2018 and is part of a 12-hotel worldwide expansion campaign; Centric launched in 2015 and currently includes 14 hotels in North and South America. Centric hotels emphasize individual, social design that captures local flavor, centered about The Corner, Centric hotels' signature craft cocktail lounge, and a locally-themed bar and restaurant. Staff at Centric hotels are specially trained to provide custom-tailored tourism recommendations for guests.
Magna Hospitality Group, Hyatt Centric Boston’s owner, acquired Congress Square’s 85,700 square foot boutique hotel component for $16.5 million from Related Beal in August 2016. The hotel will incorporate an existing 12-story, 53,072 square foot building at 68 Devonshire Street and construct a new 13-story horizontal addition on the adjacent vacant lot. Congress Square is a 458,300 square foot mixed-use development overlooking Post Office Square which will feature hotel, office, residential and retail space. Office and retail space, which are being developed by Related Beal, are now leasing. Advertising agencies DigitasLBi and Publicis.Sapient will open a 200,000 square foot joint headquarters at Congress Square.
Aug 12, 2016
Related Beal sells approved Congress Square boutique hotel project to Magna Hospitality Group for $16.5 million
Last Friday (August 12th, 2016), Related Beal sold the approved boutique hotel component of the Congress Square development project to hotel investor, developer and manager Magna Hospitality Group of East Warwick, Rhode Island for $16.5 million as recorded in the Suffolk County Registry of Deeds. An 85,700 square foot boutique hotel is approved for construction at Congress Square. The approved hotel site is located at 68 Devonshire Street and includes an existing 12-story, 53,072 square foot building and an adjacent vacant lot. To construct the approved hotel, the existing building would be thoroughly renovated and a 13-story addition would be constructed on the vacant lot. The following is a rendering of the boutique hotel approved for construction at Congress Square:
Related Beal now only retains ownership of Congress Square's 40 Water Street, where approximately 285,000 square feet of office space and 31,000 square feet of retail are currently under construction. Related Beal sold 15 & 19 Congress Street, the residential component of Congress Square, to Thibeault Development last week for $14.55 million; 35 condominiums with ground-floor retail are approved for construction at 15 & 19 Congress Street.
The following is a Congress Square site plan:
The following is the deed for the sale of the approved boutique hotel project to Magna Hospitality Group:
More information about Congress Square is posted below.
Aug 06, 2016
Residences still planned for two Congress Square buildings sold Thursday
In an official press release on Friday, Related Beal announced that the buildings at 15 and 19 Congress Street sold Thursday for $14.55 million by Related Beal to Thibeault Development will be redeveloped into residences as originally planned. It has not been announced whether Thibeault Development's residences will be condominiums or rentals, and a unit count has not been specified; a Notice of Project Change (NPC) has not been filed with the Boston Redevelopment Authority (BRA) at this time. Related Beal had intended to construct 35 condominiums at 15 and 19 Congress Street; the buildings total 54,461 square feet.
According to the official press release, Thibeault Development will construct approximately 5,750 square feet of retail on the ground floor of 15 and 19 Congress Street fronting the future Quaker Lane, a pedestrian-friendly avenue planned at the center of the Congress Square development project. "We are excited with the master plan for Congress Square that Related Beal has developed and are looking forward to being a part of bringing it to fruition," said Billy Thibeault, Principal at Thibeault Development. Related Beal will continue to develop the remainder of the Congress Square project. "The residences that Thibeault is developing at 15 and 19 Congress Street contribute greatly to our vision of Congress Square as a dynamic addition to Boston's downtown,” said Stephen Faber, an executive vice president at Related Beal. The following is a link to the official press release announcing the sale of 15 and 19 Congress Street to Thibeault Development. More information about Congress Square is posted below.
Aug 04, 2016
Related Beal sells two Congress Square buildings to Thibeault Development
This afternoon, Related Beal sold two buildings, located at 13-19 Congress Street, on the Congress Square development site in Downtown Boston to Thibeault Development of Everett, MA for $14.55 million as recorded in the Suffolk County Registry of Deeds. Related Beal acquired the site for $87 million in 2013 and guided the Congress Square development project through approvals; the project started construction earlier this year. Della Thibeault, a Manager at Thibeault Development, was available for comment and confirmed that the firm is now the owner of 13-19 Congress Street. Related Beal retains ownership of the other three buildings at Congress Square and of a Devonshire Street parcel intended for construction of a boutique hotel; representatives of Related Beal were not available for comment this afternoon. This page will be updated with additional information as it becomes available. The following is a site plan of Congress Square; the buildings sold to Thibeault Development are numberred 19 & 15 Congress:
The following is the deed for the sale of 13-19 Congress Street to Thibeault Development:
Apr 20, 2016
Route 1A Revere Hampton Inn on 5+ acre parcel sells for nearly $37 million
The Hampton Inn hotel located at 230 Lee Burbank Highway on Route 1A in Revere sold today for $36.865 million. The buyer is Magna Hospitality Group, a hotel developer and investor based in Warwick, RI. The hotel last sold in 2007 for $38.6 million; the seller is Linchris Hotel Corporation of Hanover, MA.
The hotel is situated on a 5.34-acre parcel located near the Suffolk Downs racetrack, Logan Airport and the MBTA Blue Line. Also nearby is Revere's 1.3 million square foot Waterfront Square mixed-use development.
The following is the deed for today's sale:
More information about 230 Lee Burbank Highway is posted below.
Mar 25, 2016
Interior demolition underway at Congress Square
J. Derenzo Companies’ JDC Demolition division is hard at work performing interior demolition at Congress Square in Boston’s Financial District. The JDC team is gutting the five existing Congress Square buildings, paying careful attention to the abundant historic detail inside. Authentic copper and marble finishes are prominent throughout the buildings; pillars and walls feature intricate patterns and carvings. These unique details will be preserved as part of the Congress Square development.
During our visit to the Congress Square site, we observed the JDC team raising Bobcat vehicles to the buildings' upper floors. These vehicles will be used to perform interior demolition:
Great views of the Boston skyline are abundant throughout the buildings, particularly on upper floors:
We also observed the first restored copper panel on Congress Square’s exterior. As previously reported, the authentic copper panels on Congress Square’s exterior will be fully restored to their “original, copper dipped shine:"
Initial site work is also beginning on a parcel on which a new Congress Square building will be built. The building will front Devonshire Street and will house a boutique hotel:
More information on the Congress Square project, including architectural renderings, is posted below.
Mar 21, 2016
Exciting discovery made at Congress Square
Arrowstreet reports an exciting discovery has been made at Congress Square, currently under construction in Boston’s Financial District. While restoring painted exterior grillwork of the historic buildings, the Consigli construction team discovered that the grillwork is copper-plated and that the panels contain previously unseen intricate craftsmanship. The panels will now be fully restored to their “original, copper dipped shine,” which will further enrich the pedestrian experience that is central to the Congress Square project. We are excited to watch Congress Square continue to progress and cannot wait to see what other hidden historic details are uncovered!
Below are renderings of the restored copper grillwork:
Congress Square will fully restore five historic buildings. New glass additions will be constructed above the buildings; a new hotel building will also be built on site. A pedestrian mall lined with retail spaces and outdoor seating will be built at the site’s center. More project information, including renderings, is posted below.
Feb 12, 2016
Construction starting at Congress Square
Construction is starting at Congress Square in Boston's Financial District
! Construction fencing has been installed at Quaker Lane along with signage reading "Under Construction." Consigli Construction
will manage Congress Square's buildout.