50% Stake of 75-101 Federal Street Sold for $242.5 Million
Carr Properties has acquired a 50% stake in the property at 75-101 Federal Street from the Rockpoint Group for $242.5 million. The Rockpoint Group purchased the building in July of 2015 for $326.5 million.
75-101 Federal Street is comprised of two interconnected office buildings encompassing 853,401 square feet of class A office space. Located in the Financial District of Boston, the building’s modern on-site amenities, neighborhood offerings, and proximate public transportation options create a perfect environment for innovative companies to attract and retain talent.
The Pinnacle at Central Wharf, Chiofaro's Harbor Tower, Now Under Review
The Chiofaro Company has filed the project notification form for the Harbor Garage Tower, now dubbed The Pinnacle at Central Wharf. Plans call for a 600-foot tower to feature 865,00 square feet of mixed-use space. The project would include approximately 200 rental units on the highest floors over 538,000 square feet of office space. The first 2 floors of the building would also offer 42,000 square feet of retail/restaurant space. Additionally, a below-grade garage will include space for 1,100 vehicles.
Another key piece of the development is the 28,000 square feet of waterfront public space. The space is designed as an outdoor gathering space that would seamlessly integrate into the New England Aquarium's "Blueway".
$3.3M Fit-Out Permit Pulled for Asics Space at 125 Summer
Columbia Construction has pulled a permit for the interior office fit-out of the Asics space on the 3rd floor of 125 Summer Street. The $3.3M project will include demo plus new framing, doors & glazing and finishes. Work also includes install of new and some relocation of electrical, fire alarm, and plumbing.
$7M Fit-out Permit Pulled for Klaviyo Office at 125 Summer St.
Commodore Builders has pulled a permit valued at $7M for the fit-out of the Klaviyo offices at 125 Summer Street. The project on the 5th-7th floors of the building will include an amenity space, cafe, library, and fitness area.
After Years of Planning, Highly-Anticipated Harbor Garage Project is Launched
After seven years of planning, The Chiofaro Company announced today the filing of a ‘Letter of Intent’ with the Boston Planning and Development Agency for the redevelopment of the Harbor Garage. The project will be the first proposed under the state-approved Downtown Waterfront Municipal Harbor Plan (MHP), which was the product of a comprehensive process, culminating in guidelines that last week were codified in the Boston Zoning Code.
The to-be-named Garage redevelopment will serve as an international model for waterfront development in the 21st century, given its unparalleled opportunity to replace an auto-centric obstacle to harbor access with significant new public open space along the waterfront in Boston’s urban core. The transformative project, anchored by an architecturally distinctive tower designed by the world-renowned firm of Kohn Pederson Fox Associates, will serve as a gateway to the city, building upon the successes of the Boston Harbor cleanup and the Rose Kennedy Greenway, and enabling the execution and seamless integration of the New England Aquarium’s ‘Blueway’ vision.
"We have an enormous responsibility to the City after a lengthy and inclusive MHP process, where a wide range of contributors worked collectively to lay the groundwork for ‘Boston’s next great place.’ This project will be the catalyst for that transformation. It's time to allow residents of – and visitors to – Boston the opportunity to enjoy the full potential of our city’s waterfront," said Don Chiofaro, Founder and President of The Chiofaro Company.
Combining commercial and residential elements, the mixed-use tower will be ringed with multiple stories of public retail amenities, providing seven-day energy that will activate the surrounding open space and amplify the area’s existing and future cultural and educational assets. By removing the seven-story, block-long barrier of the existing garage, the project will open both visual and physical access from the Greenway to the harbor, creating new connections and inviting the diverse cross-section of visitors who enjoy the Greenway’s Rings Fountain across the street to experience the water firsthand.
Reflective of the new reality of coastal cities, climate resiliency is also at the heart of the project, which will be the first designed to incorporate the findings of the City’s “Climate Ready Downtown and North End” plan. While the project itself will be a model of resilience, it will also play a key leadership role in the implementation of district-wide solutions.
Following the appointment of an Impact Advisory Group for the project, the next step in the City’s Article 80 development review process is the filing of a Project Notification Form (PNF), which will provide additional detail about the program, architecture, engineering, and project benefits.
“We are excited about how the design work has progressed and, over the next few months, we’ll be refining our ideas and preparing to shift from talking in the abstract about aspirations to engaging in a robust public discussion of a real design”, said Don Chiofaro, Jr., company Vice President and Project Manager.
BPDA Approves Municipal Harbor Plan: Allows Zoning for Habor Garage Tower
The Boston Planning Board has approved the new Municipal Harbor Plan. Part of the plan allows for the zoning of the 600' Harbor Garage Tower. The MHP will be brought to the zoning commission next month for further approval. While it will still need to go through the Article 80 process, The Harbor Garage plans to combine cutting-edge architecture with a grand public gathering place over 900,000 square feet of space.
The first building at Hudson Yards, 10 Hudson Yards, is nearing completion, with two additional buildings, The Shops & Restaurants at Hudson Yards and 30 Hudson Yards, rising next door. Progress continues to be made on the full decking over the Hudson Yards rail yard, upon which more buildings will soon rise. New photographs posted; also see Hudson Yards master plan posted below.