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Total Square Footage 55,385,337

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Established 1957
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Phone Number 713-621-8000

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Description

Hines is a privately owned global real estate investment, development and management firm, founded in 1957, with a presence in 189 cities in 20 countries and $96.5 billion of assets under management—including $48.5 billion for which Hines provides fiduciary investment management services and $48 billion for which Hines provides third-party property-level services.

Hines has 114 developments currently underway around the world, and historically, has developed, redeveloped or acquired 1,205 properties, totaling over 390 million square feet. The firm’s current property and asset management portfolio includes 533 properties, representing over 213 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most respected real estate organizations in the world.

Updates

Hines Interests Limited Partnership
- May 14, 2019

MBTA Expects Construction on South Station Project to Kick Off This Fall

During a recent recording of The Big Dig Podcast, Peter Paravalos, Director of Transit-Oriented Development for the MBTA told BLDUP he expects construction on the first phase of the South Station project to kick off this fall. This first phase includes the expansion of the bus terminal by 106,000 square feet and the expansion of the existing parking garage by 895 spaces. 

The next phases of this much-anticipated development will include a 51-story tower, consisting of office, residential and retail space. This tower will feature 175 condos located above 704,000 square feet of office space and 7,000 square feet of ground-floor retail. Two additional towers are also planned, one a 17-story, 438,000 square foot building and the final phase of the project a nine-story, 511,000 square foot building consisting of office space and 12,000 square feet of ground-floor retail.

Want to hear more on transit-oriented development, check out our most recent episode of The Big Dig.


Meriel Marina Bay
- Jan 25, 2018

Callahan completes Meriel Marina Bay luxury apartments on Quincy waterfront


Callahan Construction Managers has completed Meriel Marina Bay, a 352-unit luxury apartment community located on the Quincy waterfront overlooking Boston Harbor. Meriel Marina Bay, developed by Hines, features studio to three-bedroom apartments available for immediate lease, and also includes a new extension of the Marina Bay public waterfront with 20,000 square feet of retail space.


Residences at Meriel Marina Bay feature open layouts and luxurious finishes such as oversized windows, wide plank flooring and kitchens with stainless-steel appliances, center islands with breakfast bars, quartz countertops and European-style soft-close cabinets. Many apartments are equipped with oversized balconies or private patios. Resident amenities at Meriel Marina Bay include four elevated courtyards featuring fire pits, barbeque grills, wet bars and deck swings, a heated outdoor swimming pool, a club room with lounge seating, a catering kitchen and a fitness center.


Sweeping views of Boston Harbor and the Boston skyline are visible throughout Meriel Marina Bay. Both of the developments’ buildings structural frames include five stories of wood above a base two-level steel podium that contains a total of 500 garage parking spaces, in addition to indoor storage for bikes, paddle boards and kayaks. Meriel Marina Bay is conveniently located near Downtown Boston and Interstate 93. The community is also adjacent to Squantum Point Park, which features a two-mile Riverwalk trail and beaches. The following is a photograph of Meriel Marina Bay:


Meriel Marina Bay Aerial


South Station Air Rights
- Aug 25, 2017

Ashkenazy acquires South Station office and retail leasehold for $119 million


Ashkenazy Acquisition Corporation, owner of the ground leases of Boston's Faneuil Hall and Washington DC's Union Station, has acquired the 98-year leasehold interest on the 205,165-square-foot office and retail component of Boston's South Station from longtime owner Equity Office Management for $119 million. The sale amounts to approximately $580 per square foot; Citi Real Estate Funding provided $75 million in funding towards Ashkenazy's acquisition. Equity listed the leasehold for sale through Holliday Fenoglio Fowler, L.P. (“HFF”) in April, expecting to fetch around $100 million ($407.81 per square foot).


South Station’s office and retail component features 117,000 square feet of fully-leased office space across four stories and 59,000 square feet of ground-floor restaurant and retail space with multiple tenants, including restaurants Au Bon Pain, Auntie Anne’s, Dunkin’ Donuts, McDonald’s, Pret A Manger and Starbucks, and retailers Bank of America, Barbara’s Bookstores, Citizens Bank and CVS/pharmacy. South Station features unparalleled public transportation access and a prime location in the heart of Boston’s Financial District steps to Fort Point and the Seaport District.


South Station is poised for a nearly 2-million-square-foot air rights development, which will be developed by Hines and Gemdale Properties. The development's first phase, a 51-story, 677-foot tall, 1.032-million-square-foot tower featuring 175 condominium residences, 704,000 square feet of office space and 7,000 square feet of ground-floor retail, is expected to break ground by the end of this year.


Meriel Marina Bay
- Aug 22, 2017

Ribbon cut on newly completed Meriel Marina Bay luxury apartments, and Marina Bay boardwalk expansion, on Quincy waterfront


A ribbon cutting ceremony was held Saturday, August 12th for the newly completed Meriel Marina Bay luxury apartments on the Quincy waterfront, and the associated expansion of the Marina Bay boardwalk. The boardwalk’s size has been nearly doubled as part of Meriel Marina Bay’s development, creating new publicly-accessibly waterfront space and retail. Meriel Marina Bay features two five-story buildings featuring 352 studio, one-, two- and three-bedroom residences and 20,000 square feet of ground-floor retail, with resident amenities including a fitness center, three elevated courtyards, a swimming pool and on-site garage parking. Breathtaking views of Boston Harbor and the Boston skyline are visible throughout Meriel Marina Bay. Over 25% of apartments at Meriel Marina Bay are leased following the launch of leasing last Spring; apartments are now available for lease.


Meriel Marina Bay is the latest addition to Quincy’s thriving Marina Bay neighborhood, located a short drive, transit trip or boat ride to Downtown Boston. “The expansion of the Marina Bay boardwalk is a truly meaningful milestone in our work to complete the Meriel Marina Bay community and further enhance the many wonderful aspects of this neighborhood,” said Hines Managing Director Michael Francis in a prepared statement. “The new boardwalk and new retail spaces will provide additional opportunities to complement the already thriving mix of retail offerings along the waterfront and provide both locals and visitors with added space to enjoy the unique benefits of this waterfront neighborhood.”


Meriel Marina Bay complements Quincy’s recent resurgence, with hundreds of thousands of square feet of new housing and commercial space currently under development and recently completed. “Our city has experienced an ongoing positive evolution across all neighborhoods over the last number of years with the steady addition of new businesses and residents proud to call Quincy home,” said Quincy Mayor Thomas P. Koch in a prepared statement. “Marina Bay has particularly continued to thrive as a destination where residents and visitors alike come to live, work and play, and I’m thrilled to see the continued growth of this community with the expansion of the boardwalk through the construction of Meriel Marina Bay.”


South Station Air Rights
- Jul 03, 2017

Ashkenazy acquiring 205,165-square-foot South Station leasehold for nearly $125 million


Ashkenazy Acquisition Corporation, who owns and operates Faneuil Hall, will acquire the 205,165-square-foot office and retail component of South Station, a central Boston transit hub poised for a nearly 2-million-square-foot air rights development, for nearly $125 million ($609.27 per square foot). Seller Equity Office Management listed the 98-year leasehold interest on South Station for sale through Holliday Fenoglio Fowler, L.P. (“HFF”) in April, expecting to fetch around $100 million ($407.81 per square foot). Ashkenazy and Equity’s deal will require approval from the Massachusetts Department of Transportation (MassDOT), owner of South Station, to move forward.


South Station’s office and retail component features 117,000 square feet of fully-leased office space across four stories and 59,000 square feet of ground-floor restaurant and retail space with multiple tenants. The asset benefits from unparalleled public transportation access and a prime location in the heart of Boston’s Financial District steps to Fort Point and the Seaport District. The first phase of the 1.981-million-square-foot South Station Air Rights development, a 51-story, 677-foot tall, 1.032-million-square-foot tower featuring 175 condominium residences, 704,000 square feet of office space and 7,000 square feet of ground-floor retail, is expected to break ground by the end of this year.


South Station Air Rights
- May 07, 2017

South Station post office relocation takes step forward with proposed Massport land acquisition in Seaport


The relocation of the 14-acre post office distribution facility at South Station, and South Station’s proposed expansion and air rights development, took a step forward last week with Massport’s signing of a Letter of Intent to acquire a 4-acre parcel at 525 E Street in the Seaport District. The parcel is owned by the U.S. Army Corps of Engineers and is located adjacent to 12 acres Massport owns. Massport would in turn offer the combined 16 acres to the U.S. Postal Service as a new home for the 14-acre South Station facility.


The relocation of the facility would enable the planned expansion of South Station by seven tracks and four platforms, which would also present new air-rights development opportunities. Hines and Gemdale Properties will construct an approved nearly 2 million square foot air rights development above the existing South Station; the government-imposed deadline for the developers to break ground was recently extended to December 31st, 2017 from April 30th, 2017.


The long-term leasehold on South Station itself, a 205,165-square-foot office and retail property, was recently listed for sale by current owner Equity Office Management through HFF. South Station’s sale price is expected to exceed $100 million ($407.81 per square foot); the new owner would assume a 98-year interest in the property from the State of Massachusetts, who owns the property. South Station features 117,000 square feet of fully-leased office space across four stories, and 59,000 square feet of ground-floor restaurant and retail space with multiple tenants. The property is coveted due to its’ central location and unrivaled access to public transit.


Meriel Marina Bay
- Mar 21, 2017

Meriel Marina Bay nears opening


Interior and exterior finishing touches are well underway at Meriel Marina Bay, a waterfront luxury apartment community opening Phase 1 this Spring in Quincy. Callahan Construction Managers is building this mixed-use property in Quincy’s thriving Marina Bay neighborhood in partnership with client Hines. The construction team is installing luxurious features including stainless steel appliances, porcelain backsplash kitchen tiles, solid quartz countertops, Kronoswiss® hardwood flooring and plush bedroom carpeting in Meriel Marina Bay’s 352 apartments.


Windows have been fully installed across both of Meriel Marina Bay’s buildings, and exterior finish panel installation is just about complete. The construction team is also installing railings and finishes along communal elevated courtyards and apartments’ private balconies. Along Meriel Marina Bay’s ground floor, a public waterfront boardwalk is being constructed overlooking Boston Harbor. The property will also include approximately 20,000 square feet of retail space that will line the boardwalk. The following are photographs of Meriel Marina Bay:


Meriel Marina Bay Photos


South Station Air Rights
- Mar 12, 2017

South Station Air Rights receives City zoning approval, awaits State approval to start construction


The Boston Planning & Development Agency (BPDA)'s Zoning Commission approved the nearly 2 million square foot South Station Air Rights development last Wednesday, the final city approval required to start construction. Financing has been secured for construction of the project's first phase, a 677-foot tall mixed-use tower facing Dewey Square. Per developer Hines' agreement with the Massachusetts Department of Transportation (MassDOT), Hines must now receive State of Massachusetts approval for the project and start construction of the first phase by April 30th. Otherwise, Hines could lose its' right to build the project.


South Station Air Rights
- Dec 18, 2016

South Station Air Rights development approved, groundbreaking expected Q2 2017


Modifications to the approved South Station Air Rights development in the Financial District were approved at Thursday (December 15th)’s Boston Planning & Development Agency (BPDA) Board Meeting. The revised project’s first phase, a 51-story mixed-use office, residential and retail tower, is expected to break ground in the second quarter of 2017 pending final approvals from the Commonwealth of Massachusetts.


Meriel Marina Bay
- Nov 08, 2016

Meriel Marina Bay reaches full height


Meriel Marina Bay’s Building Two has reached six stories tall, the building’s full height. The frames of both buildings at Meriel Marina Bay are now being prepared for installation of exterior finishes. Windows have been installed along large sections of both buildings. Meriel Marina Bay will open in Spring 2017 and will feature 352 luxurious residential apartments overlooking Boston Harbor with sweeping views of the Boston skyline.


Geotechnical design/build contractor Helical Drilling prepared the Meriel Marina Bay construction site, which overlooks scenic waterfront Squantum Point Park, for development of the two new Meriel Marina Bay buildings. The existing urban fill on which the Park and its’ surroundings are built was deemed unsuitable for traditional foundation support methods such as over-excavate/replace and deep pile foundations. Accordingly, Helical Drilling installed several hundred Geopeir grouted rammed aggregate pier elements in the Meriel Marina Bay site’s soil. These elements extend 9 to 16 feet below grade and support the footings of Meriel Marina Bay. The following are photographs of Meriel Marina Bay, courtesy the development team on Twitter:





Salesforce Tower
- Oct 21, 2016

Salesforce Tower becomes San Francisco’s tallest building


Salesforce Tower became San Francisco’s tallest building last Friday (October 14th, 2016), reaching 867 feet tall and surpassing the 853-foot tall Transamerica Pyramid. The 1.4 million square foot tower will continue to grow to a full height of 1,070 feet tall, at which point it will be the tallest office building west of Chicago. Salesforce Tower’s core walls are expected to top off in early November, with structural steel topping off in March 2017. Base core and shell work is expected to be complete in the second quarter of 2017, with tenants taking occupancy in the fourth quarter of 2017. Additional information about Salesforce Tower can be found above.


One Vanderbilt
- Oct 19, 2016

One Vanderbilt, Midtown Manhattan's future tallest tower, breaks ground


An official groundbreaking ceremony was held Tuesday (October 18th, 2016) for One Vanderbilt. At 1,401 feet tall, One Vanderbilt will be Midtown Manhattan's tallest tower and New York City's second tallest tower upon its' expected completion in 2020. One Vanderbilt will contain 1.7 million square feet of office and retail space. TD Bank will be an anchor tenant at One Vanderbilt, occupying approximately 200,000 square feet of office and retail space including a flagship store at the corner of 42nd Street and Madison Avenue. As part of the project, One Vanderbilt developer SL Green Realty Corporation will invest $220 million in upgrades to New York City's mass transit system, including to the adjacent Grand Central Terminal.


Meriel Marina Bay
- Aug 29, 2016

Meriel Marina Bay wood framing nearly complete, exterior finishing underway


The wood frame of Meriel Marina Bay's Building One, overlooking Boston Harbor and the Boston skyline, is complete. Windows and moisture-resistant sheathing are now being installed along Building One's exterior. Building Two's five-story frame is just about to top off; exterior finishing of Building Two will commence shortly afterwards. Opening Spring 2017, Meriel Marina Bay will feature 352 waterfront luxury rental residential apartments ranging from studios to three-bedrooms located on the Marina Bay boardwalk steps to beaches, ferry service to Downtown Boston and multiple waterfront dining and entertainment options. Visit MerielMarinaBay.com for apartment leasing information. As part of Meriel Marina Bay, the Marina Bay boardwalk will be extended along Boston Harbor; approximately 20,000 square feet of ground-floor retail will be located at Meriel Marina Bay fronting the new boardwalk. The following are photographs of Meriel Marina Bay:


Meriel Marina Bay August 2016


The following is a panoramic view of the Marina Bay boardwalk:


Meriel Marina Bay August 2016 Panorama


South Station Air Rights
- Jul 29, 2016

South Station Air Rights changes proposed, construction could start 2017


Developers Hines and Gemdale Properties today submitted a Notice of Project Change (NPC) to the Boston Redevelopment Authority (BRA) proposing modifications to the South Station Air Rights project; the following is a link to the NPC. Major changes include up to 589,000 additional square feet of residential space and the associated addition of 140 parking spaces. Three buildings would still be constructed across three phases, including the main 677-foot tall Phase 1 tower atop the historic South Station terminal. Construction of the Phase 1 tower could start in 2017 and would take four years.


As previously proposed, the entire project would contain hotel, office, residential and retail space. Total project square feet have increased to 1,981,000 from previously proposed 1,765,000. Residential space has increased significantly to up to 751,000 square feet containing 435-550 condominium or rental units from previously proposed 162,000 square feet containing 127 units. Market conditions would determine whether condominiums or rentals are built and whether some of the space changes to hotel rooms; the project could contain up to 430,000 square feet of hotel space containing 360 rooms. Retail space has also increased to 35,000 square feet from previously proposed 26,000. Office space has decreased by 154,000 square feet to 1,203,000 from 1,357,000.


The Phase 1 tower, previously proposed to only contain office and retail space, would now also include residential units on upper floors. The previous proposal called for a 920,000 square foot tower including 912,000 square feet of office space and 8,000 square feet of retail. The Phase 1 tower would now contain a total of 1,032,000 square feet including 175 residential units across 321,000 square feet, 704,000 square feet of office space and 7,000 square feet of retail. The 677-foot Phase 1 tower's proposed height has not changed; however, owing to the addition of residential space, two floors have been added to the Phase 1 tower, which would now rise a total of 51 stories.


Phases 2 and 3 would be constructed atop the existing South Station parking garage. Phase 2 would construct a 17-story, 334-foot tall, 438,000 square foot building that could contain hotel space, residential space or both depending upon market conditions. The all-hotel building could contain 360 rooms; the all-residential building could contain 260 condominiums or 375 rental units. All Phase 2 proposals call for 8,000 square feet of ground-floor retail. The previous proposal called for 127 residential units, 200 hotel rooms and 8,000 square feet of retail in the Phase 2 building. Height has increased slightly to 334 feet from 308.


Phase 3 would construct a nine-story, 249-foot tall office building as previously proposed. Square footage has increased slightly to 511,000 square feet (including 12,000 square feet of retail) from previously proposed 455,000 square feet (including 10,000 square feet of retail).


As part of the project, the South Station bus terminal would be expanded by 106,000 square feet, up from previously proposed 70,000. The parking garage would be expanded by 895 spaces, up from previously proposed 755 to accommodate the additional residential space.


The following is the latest rendering of the Phase 1 tower:


Screen Shot 2016-07-29 at 42541 PM


The following is an axonometric of the project:


Screen Shot 2016-07-29 at 42454 PM


The following is a project section:


Screen Shot 2016-07-29 at 42656 PM


Meriel Marina Bay
- Jul 12, 2016

Meriel Marina Bay on Quincy waterfront tops off


A topping-off ceremony was held for Meriel Marina Bay on June 28th, 2016. The following is a link to the official press release announcing the topping-off. During the ceremony, Meriel Marina Bay's last beam of steel was lifted into place and installed, completing Building Two's structural steel frame. 163 wood-framed residential apartments will now be constructed above Building Two's steel frame. Wood framing is underway on Building One, which will contain 189 apartments.


Located in Quincy's waterfront Marina Bay neighborhood with sweeping views of Boston Harbor and the Boston skyline, Meriel Marina Bay will feature 352 luxury apartments across two new buildings. Resident amenities will include a fitness center, three elevated courtyards and a swimming pool in addition to sweeping ocean and skyline views. The project will also include a public waterfront boardwalk extension and approximately 20,000 square feet of retail.


Initial occupancy of Meriel Marina Bay is expected in Spring 2017. Bozzuto will be Meriel Marina Bay's property manager. The following are links to pre-leasing information and to the Meriel Marina Bay website.


The following are photographs from the Meriel Marina Bay topping-off ceremony, courtesy Nickerson PR:


MerielMarinaBay_ToppingOff_Nickerson_062816-4
The final beam is lifted into place


MerielMarinaBay_ToppingOff_Nickerson_062816-3
The final beam is installed


MerielMarinaBay_ToppingOff_Nickerson_062816-6
A worker signs the final beam


MerielMarinaBay_ToppingOff_Nickerson_062816-9
A worker signs the final beam


MerielMarinaBay_ToppingOff_Nickerson_062816-7
Wood framing of units underway at Building One


The following is a rendering of Meriel Marina Bay, courtesy Elkus Manfredi Architects:


MerielMarinaBay_ElkusManfrediArcitects_2016


The following are aerial photographs of the Meriel Marina Bay project site taken in early June, courtesy Nickerson PR:


Meriel-Marina-Bay_Aerial-View_Callahan
Aerial view of Building One


Meriel-Marina-Bay_Aerial-View_2_Callahan
Aerial view of Building One (background) and Building Two (foreground)


South Station Air Rights
- May 13, 2016

South Station Air Rights moves forward as China's Gemdale Properties joins project team


At last night's board meeting, the Boston Redevelopment Authority approved the addition of major real estate developer and investor Gemdale Properties of China to the South Station Air Rights project team. Per The Boston Globe, the proposed project plan could soon be modified to include more housing and less office space. Tim Logan reports that the development team is "actively working on the project" and aims to obtain all necessary permits and start construction as soon as possible.


Update: The Boston Globe now reports that revised South Station Air Rights plans could include 175 condominiums on upper floors, up from proposed 155. The tower could rise 51 stories, up from proposed 49. The tower could contain 530 parking spaces, down from proposed 755.


More information about the South Station Air Rights proposal is posted below.


South Station Air Rights
- Mar 27, 2016

South Station Air Rights work could start early 2017


The South Station Air Rights project page on developer Hines' website has been updated with new details, including an anticipated construction commencement date of early 2017. A commencement date was not listed on Hines’ previous website, which was live as recently as last month. The previous website claimed that "market demand will dictate the timing of construction commencement" for the project.


The South Station Air Rights project description on Hines' website has changed as follows:


  • 49-story office tower square footage has decreased from 980,000 square feet to 970,000
  • In addition to 155 residential condominium units, 200 hotel rooms are now planned for the residential building
  • Square footage of a second office building has increased from 500,000 square feet to 520,000 square feet
  • Planned parking spaces have increased from 713 to 755


The new details are in line with a project amendment approved by the Boston Redevelopment Authority in June 2014. With the amendment's approval, the project's land disposition agreement was extended through June 30th, 2016.


Hines' new website has been live since late February 2016. A higher resolution project architectural rendering, posted above, was also posted on Hines' new website as part of the update. The following is a link to an archive of the South Station Air Rights page on Hines' previous website. Additional information about the South Station Air Rights project is posted below.


Meriel Marina Bay
- Sep 30, 2015

Meriel Marina Bay officially breaks ground


A groundbreaking ceremony was held for Meriel Marina Bay on September 21st, 2015. Guests included Quincy Mayor Tom Koch, Massachusetts State Senator John F. Keenan, Massachusetts State Representative Bruce J. Ayers and Quincy Planning Board Chairman William Geary. Meriel Marina Bay will feature 352 waterfront luxury residential apartments, 20,000 square feet of retail and a public waterfront boardwalk. Occupancy of Meriel Marina Bay is expected in Spring 2017. The following is a link to the official press release for the groundbreaking. The following is a photograph from the groundbreaking, courtesy Hines:


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