With a history of turning opportunities into landmarks, The Abbey Group has become the standard bearer of developing urban properties in a way that brings vitality and value to the communities of Greater Boston. In 1979, Robert Epstein, David Epstein, and John Svenson came together with a vision of a real estate company that would demand excellence in every aspect of the business, from inception to completion. Since then, a consistent ability to identify target markets—and to create properties that meet the needs of those markets—has made The Abbey Group’s name synonymous with fiscal stability and high quality in residential, commercial and retail development. The Abbey Group prides itself on creating places that make people feel engaged with its surroundings, comfortable in their residences, and excited by their possibilities. The Abbey Group's team includes specialists in marketing, finance, architecture, construction, land planning, and property management to fulfill the needs of the rapidly changing marketplace. It is always the goal to act as considerate stewards of the environment and of the communities our properties serve. In addition to the commitment to supporting arts, education, and medical research, The Abbey Group is also a proud co-owner and managing partner of the Boston Celtics.
Dec 12, 2019
Demo Underway for The Exchange South End
Demo has kicked off of the building that formerly housed the historic Boston Flower Exchange to make way for Exchange South End, the upcoming 1.6 million square foot project that, once complete, will be a next-generation life science and technology urban campus. When asked about the timeline for construction of the first phase of the project, The Abbey Group tells BLDUP, "We are actively marketing the project, we are preparing the site and taking steps to be able to go forward with construction. We don't yet have a specific timetable to share."
While the Boston Flower Exchange represented a physical exchange of goods for much of the 20th century, Exchange South End will represent an exchange of ideas, technology, and culture for the 21st. Located in the South End, one of Boston’s most culturally rich and diverse neighborhoods and home to hundreds of nearby restaurants, bars, retail shops, art galleries, and studios, the site will feature four new state-of-the-art laboratory and office buildings, significantly improving the area’s life science and technology infrastructure. Additionally, the campus will feature 22,000 square feet of retail space and 30,000 square feet of community space.It is anticipated that the site’s original wharf granite slabs will be excavated and incorporated into Albany Green, a one-acre publicly accessible open space at the heart of the campus, as benches, walls, and other park features.
Nov 13, 2019
Permit Issued to Abandon Gas Service to Exchange South End Site in Prep for Demo
A permit has been pulled to abandon the gas service to 540 Albany Street in prep for demo. The demo will make way for the much-anticipated Exchange South End project which was approved by the BDPA over a year ago in August 2018. The four-building 1.6 million square foot project will offer a mix of office, lab, and retail space plus a new 1-acre public park. The first buildings in this new life science and technology campus are expected to be ready in Q1 2022.
Aug 16, 2018
BPDA Approves Exchange South End
In a meeting held on August 16th, 2018 the BPDA approved the massive, 1.6 million square foot development in the South End along Albany Street. Positive comments regarding the project came from numerous sources including neighborhood associations, unions, and the board itself. The head of the South End Forum, a collection of the various South End neighborhood associations, applauded the development team for their community engagement throughout the past year and no opposition to the project was voiced at the public hearing.
The development of the 5.6-acre site will include four new buildings of commercial, technology, and life science space with ground floor retail. The front door to the site will be the 1-acre park, Albany Green. While questions around transportation remain, The Abbey Group hopes to start construction this coming spring, 2019.
Jul 05, 2018
Exchange South End Awaits ApprovalWith the Exchange South End proposal under board review, the $600 million commercial development is still aiming to begin construction in the fall of 2018. The development would transform 5.6 acres of South End real estate into a massive mixed-use opportunity for the neighborhood.The nearly 1.6 million square foot project would include four new buildings featuring approximately 1,481,350 square feet of commercial, technology, and life science research space with 42,500 square feet of ground-floor retail space and 30,000 square feet of civic and incubator space oriented about a new public park.Over one acre of new pedestrian-friendly public open space, known as Albany Green, would be constructed on site. Exchange South End would host 4,000 to 7,000 new jobs, and represent a total investment of over $1 billion in the South End neighborhood.
Mar 12, 2018
Updated renderings of Exchange South End from Stantec, the architectural firm on the project. The $600 million commercial development is aiming to begin construction in the fall of 2018, transforming 5.6 acres of South End real estate into a massive mixed-use opportunity for the neighborhood.
Sep 20, 2017
Abbey Group reveals plans for 1.6-million-square-foot Exchange South End commercial development
The Abbey Group has revealed its’ plans to redevelop the 5.6-acre Boston Flower Exchange site in the South End into Exchange South End, a commercial, technology, and life science research hub totaling nearly 1.6 million square feet. Pegged at $600 million and representing an over $1 billion total investment in the South End neighborhood, The Abbey Group’s proposed development would feature four new buildings up to 20 stories and 282 feet tall, featuring 1,481,350 square feet of commercial space in addition to 42,500 square feet of ground-floor retail space and 30,000 square feet of civic and incubator space.Over one acre of public open space would be constructed at Exchange South End. Construction of the Exchange South End’s first phase, which would construct two buildings, would start in Fall 2018 and last approximately two years. Additional buildings would be constructed based upon demand. The Abbey Group has filed plans for Exchange South End with the Boston Planning & Development Agency (BPDA), who is now reviewing the proposed project.
Jul 11, 2017
Dell-owned VMware leases 37,948 square feet at Lafayette City Center in Downtown Crossing
Dell Technologies-owned cloud infrastructure and business mobility leader VMware has leased 37,948 square feet at the recently renovated 615,000-square-foot Lafayette City Center office and retail building in Downtown Crossing, steps from Dell Technologies’ Chairman & CEO Michael Dell’s new penthouse residence at the recently completed 60-story Millennium Tower. Dell serves as Chairman of VMware, in addition to Dell Technologies at large. VMware will take occupancy of its’ new office space by the end of September, relocating approximately 200 employees from its’ current Cambridge office.
VMware’s long-term lease at Lafayette City Center was brokered by JLL. “This transaction further solidifies Lafayette City Center’s reputation as a major attraction for innovative, world-class tech tenants in a growing district that is hot and high energy,” said JLL Managing Director Tom O’Regan in a prepared statement. The property is located in the heart of Downtown Crossing across from the recently completed Godfrey Hotel.
Mar 16, 2017
1.6 million square foot office and retail hub envisioned at South End's Boston Flower Exchange
Developer The Abbey Group has unveiled preliminary development plans for the 5.5-acre Boston Flower Exchange site in the South End. Per a Boston Globe report, The Abbey Group presented a vision for four lab and office buildings with ground-floor retail and restaurant space oriented about "Albany Green", a 1-acre "European [public] plaza", at a Wednesday night community meeting this week; a newly revealed rendering is posted above.The Boston Flower Exchange project, which would total approximately 1.6 million square feet and rise about 200 feet, would also construct a new cultural center and improve the nearby South Bay Harbor Trail. “We want to extend public space across the entire ground floor of the project”, said Abbey Group Managing Partner Bill Keravuori. The Abbey Group has not yet filed plans for the project with the Boston Planning & Development Agency (BPDA).
May 26, 2016
Abbey Group confirmed as Boston Flower Exchange developerIn today's Boston City Council meeting, Boston Flower Exchange developer The Abbey Group gave a brief overview of the potential redevelopment program. The Abbey Group hopes to construct a commercial component to the project that would include space for technology companies. The project could also include residential and retail components.The Abbey Group has not yet closed on the acquisition of the 5.5 acre Boston Flower Exchange parcel. This page will be updated with additional details as they become available. A live stream of the Boston City Council meeting is available here.
Feb 08, 2016
The Boston Flower Exchange will likely be sold to local developer The Abbey Group, according to sources familiar with the deal. The Boston Flower Exchange has been told to move out by the end of 2016. Sale of the property has not yet closed.
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