Jul 18, 2017
Akamai breaks ground on new global headquarters in Kendall Square
Akamai Technologies held an official groundbreaking ceremony today for its’ new 19-story, 453,768-square-foot headquarters tower at 145 Broadway in Kendall Square. The tower, developed by Boston Properties, will feature a high-performance glass facade, bringing abundant natural lighting to an open office floor plan. Demolition of a preexisting office building on site is now complete, allowing Akamai and Boston Properties to start construction of the tower. 145 Broadway is expected to open at the end of 2019 and is the first phase of Boston Properties’ 1.1-million-square-foot Kendall Square redevelopment project. The following are video and photographs from the 145 Broadway groundbreaking ceremony:
Jun 15, 2017
212 Stuart Street, 19-story tower featuring 133 apartments and ground-floor retail, approved in Bay Village
212 Stuart Street, a new mixed-use tower located in Bay Village featuring 133 apartment residences and 3,000 square feet of ground-floor retail, was approved at last night (June 15th, 2017)’s Boston Planning & Development Agency (BPDA) Board Meeting. Resident amenities at 212 Stuart Street will include an outdoor landscaped rooftop deck with a southern exposure and sweeping city views, in addition to common space. 11 residences at 212 Stuart Street will be designated affordable; developer Transom Real Estate will also make a $3,309,507 contribution towards the creation of affordable housing in Boston. As part of the 212 Stuart Street project, public realm improvements will be made to the adjacent Church Street public plaza. 212 Stuart Street will require additional approval by the City of Boston’s Zoning Board of Appeals (ZBA) in order to proceed with construction.
May 21, 2017
Demolition begins for construction of new 19-story Akamai headquarters in Kendall Square
Demolition of the existing four-story, 78,636-square-foot office building at 145 Broadway in Kendall Square is now underway in order to clear the site for construction of Akamai Technologies’ new 19-story, 453,768-square-foot headquarters building. The new 145 Broadway building, which is expected to open at the end of 2019, will be 100%-leased by Akamai and is the first phase of Boston Properties’ 1.1-million-square-foot Kendall Square redevelopment project. The following is a photograph of demolition underway:
Dec 29, 2016
New Bay Village residential tower renderings released
Developer Transom Real Estate has released new renderings of the proposed 19-story 212 Stuart Street apartment tower in Bay Village. The new renderings released provide perspectives of the tower’s ground floor and massing along Stuart Street. The latest 212 Stuart Street renderings are posted above.
Dec 11, 2016
Former Related Beal executives propose 19-story Bay Village apartment tower
Transom Real Estate, a newly formed real estate development entity comprised of three former Related Beal executives, proposes to construct a 19-story apartment tower in Bay Village. The tower, 212 Stuart Street, would feature 131 residential apartments with 3,000 square feet of ground-floor retail. The development team has submitted a Project Notification Form (PNF) for 212 Stuart Street to the Boston Planning & Development Agency (BPDA). 212 Stuart Street is now under official review.
Nov 28, 2016
LStar cuts ribbon on new Parkway at Union Point
LStar Communities held a ribbon cutting ceremony last Wednesday (November 23rd, 2016) for the new $6.7 million Patriot Parkway at Union Point in South Weymouth. The completion of the Parkway frees hundreds of acres of land at Union Point up for development. The completed Parkway, financed by MassDOT, cuts through the 1,500 acre Union Point site, linking Routes 3 and 18 as well as the South Weymouth commuter rail station and the future Union Point town center district. Town Center Apartments, a new mixed-use development with 265 apartments and 14,000 square feet of retail, is already under construction at the end of the Parkway steps to the commuter rail station.
Union Point residents were delighted to welcome the new Parkway and enthusiastically honked their car horns as they drove along the road for the first time. The following are photographs from the ribbon cutting ceremony:
Nov 27, 2016
Akamai announces headquarters move to new Kendall Square tower
Kendall Square-based global content delivery network (CDN) leader Akamai Technologies has announced that is has entered into an agreement with Boston Properties to fully lease 100% of office space at the upcoming 19-story 145 Broadway office tower in Kendall Square. Akamai will relocate its’ headquarters to the new building, which is scheduled to open at the end of 2019. Akamai’s lease at 145 Broadway is for 15 years. Akamai has also agreed to lease a minimum of 150,000 additional square feet of space within Boston Properties' Kendall Square office portfolio, which will represent part of the second phase of Akamai’s Kendall Square headquarters campus build out.
Occupancy of Akamai’s new headquarters will be coordinated with the lease expirations of the current Akamai office locations in Cambridge. "We look forward to creating a campus environment for Akamai's employees to further foster innovation and collaboration, and to build a headquarters that complements the thriving Kendall Square community, complete with first-floor retail space,” says Erica Chapman, Vice President, Global Real Estate and Workplace Productivity at Akamai.
Oct 24, 2016
Union Point plans revealed at BLDUP, Inc.’s Developer’s Agenda
LStar Communities’ Managing Partner Kyle Corkum revealed the latest plans for Union Point, a a 1,500 acre mixed-use development located 12 miles from Boston, at BLDUP, Inc.’s inaugural Developer’s Agenda event last Thursday evening. Corkum, with help from John Tocci Jr., Director of Virtual Design and Construction at Tocci Building Companies, led Developer’s Agenda attendees on a 3D virtual tour of Union Point and revealed new project renderings, which can be found on the Union Point BLDUP page.
Corkum spoke of the “unprecedented opportunity to build something spectacular” at Union Point, namely a “new transit-oriented city.” The State of Massachusetts has invested $53 million into a new 2.5-mile parkway at Union Point that leads to a new MBTA Commuter Rail Station; the State also invested $23 million into the MBTA Station.
Corkum unveiled plans for a “tremendous concentration of restaurants in an urban environment” that will be centered around a new man-made lake. These restaurants will surround new professional athletic facilities, activating the restaurant district. At game times, streets will be closed off “like Yawkey Way” in Boston. According to Corkum, professional sports teams have already committed to playing at Union Point.
Ultimately, over 100 commercial buildings will be constructed at Union Point; Union Point will feature up to 4,000 homes and up to 6 million square feet of commercial. Construction recently began on Town Center Apartments, a mixed-use development at Union Point with 14,000 square feet of retail and 265 units of rental housing. Six major projects at Union Point are now underway; up to 20 major projects will be underway by Spring 2017.
Sep 18, 2016
Akamai Technologies signs Letter of Intent to fully occupy 145 Broadway
The Boston Globe reports that Kendall Square-based global internet content delivery leader Akamai Technologies has signed a Letter of Intent (LOI) with Boston Properties to fully occupy 145 Broadway, the proposed 19-story Kendall Square office tower that will contain approximately 454,000 square feet of office space. The move will allow Akamai to house most of its' 1,700 Kendall Square-based employees in one building; Akamai currently leases approximately 500,000 square feet across several Kendall Square buildings. Akamai's existing leases expire in 2019. Akamai is seeking a state tax break for the move, pledging to add 700 additional jobs in return.
Aug 31, 2016
19-story office tower proposed in Kendall Square
Boston Properties has filed formal design plans with the City of Cambridge to construct 145 Broadway, a new 19-story, 454,000 square foot office tower in the heart of Kendall Square at the intersection of Broadway and Galileo Galilei Way; the following is a link to the Design Review Submission for 145 Broadway. An existing four-story, 87,636 square foot office building would be demolished; demolition could commence in 2017. The Cambridge Planning Board will consider Boston Properties' plans at a public hearing on September 20th. 145 Broadway is the first step of Boston Properties' planned 1.1 million square foot Kendall Square mixed-use redevelopment project; the following is a link to Boston Properties' full project Concept Plan.
May 06, 2016
Four contiguous vacant Bay Village parcels sell for $13.5 million
A total of four contiguous vacant parcels located in Bay Village sold today for a combined $13.5 million as recorded in the Suffolk County Registry of Deeds. The parcels sold total approximately 7,736 square feet of land area and include the following:
- 212 Stuart Street (3,183 square feet)
- 222 Stuart Street (3,151 square feet)
- 17 Shawmut Street (702 square feet)
- 19 Shawmut Street (700 square feet)
212 Stuart Street was sold today for $6 million to Stuart Acquisition 12 LLC, a limited liability company (LLC) registered in Massachusetts. The other three parcels were sold today with a separate deed for $7.5 million to Stuart Acquisition 22 LLC, a LLC registered in Massachusetts. The registered agent for both LLCs is law firm Sherin and Lodgen. The official buyer of the four parcels has not been disclosed.
Development has been proposed for the parcels in the past. An eight-story residential building was approved for construction by the Boston Redevelopment Authority for 212 Stuart Street in 2006; the approved building was never built. 212 Stuart Street's then-owner was Metropolitan Housing Partners of New York.
Hera Development Corporation of Brighton, MA acquired the 212 Stuart Street site in 2007 for $6.5 million and had an agreement to buy the other three adjacent parcels. Hera Development Corporation proposed to construct a 10-story office building in 2008; the proposed building was never built. The following is a rendering of the proposed building:
212 Stuart Street was sold in 2012 for $3.3 million by Hera Development Corporation to Northwood Investors, then-owner of Boston's Revere Hotel. A preexisting three-story commercial building at 212 Stuart Street was demolished in summer 2014. 212 Stuart Street changed hands again in December 2014 when it was sold for $5 million to Pebblebrook Hotel Trust, who also bought the Revere Hotel around the same time. 222 Stuart Street, 17 Shawmut Street and 19 Shawmut Street were owned by Vasilios Kotzampaltiris since 1983 and have been used as a parking lot.
The following is the deed for today's sale of 212 Stuart Street (sold for $6 million):
The following is the deed for today's sale of 222 Stuart Street, 17 Shawmut Street and 19 Shawmut Street (sold for $7.5 million):