Project Updates for The Rio Grande Presented to Impact Advisory Group
Earlier this month, the development team behind the proposed Rio Grande Project in Roxbury presented project updates to the Impact Advisory Group. The plans for the 26 story tower include 241 apartments along with 15,500 square feet of retail space and 28,555 square feet of office. The presentation also included the three-pronged financing strategy that will see The AFL/ CIO funding the debt for the residential component while also seeking equity investors and public funding through housing and other tax credits.
The construction, to be handled by Gilbane & Janey Construction Management, is expected to last 26 months once the building permit is received and will be completed in phases to allow for early renovation of existing historic structures.
25-story tower proposed in the heart of Dudley Square
Developer Long Bay Management has filed a Letter of Intent with the City of Boston proposing to construct The Rio Grande, a 25-story tower in the heart of Dudley Square which would be Roxbury’s tallest building. Two years in the making, the proposal calls for 236 residences with 28,282 square feet of commercial space. Preliminary tower plans called for up to 29 stories containing nearly 400,000 square feet. A previous cost estimate of $200 million will likely change, said the proponent.
Long Bay will seek local tax breaks to help finance The Rio Grande’s construction. Residences at The Rio Grande would be primarily market-rate; 20% of residences at The Rio Grande would be designated affordable. The Rio Grande would be built behind the existing historic Citizens Bank building and another commercial building, both of which are owned by the proponent. Previous plans called for The Rio Grande’s ground floor to incorporate and preserve the bank building; according to the proponent, the tenants of both commercial buildings have long-term leases and plan to remain.
Dudley Square Tower moving forward, BRA filing expected within a month
Banker & Tradesman reports that Long Bay Management is moving forward with plans to construct a 29-story tower in Dudley Square at the corner of Washington and Marvin streets, with a formal Boston Redevelopment Authority (BRA) project filing expected within the next month. The most recent proposal calls for a 29-story tower, up from previously proposed 25 stories. Due to cost considerations, the proposal has been revised to include above-ground parking and additional floors. Potential office tenants could include a 28,000 square foot Roxbury service office for the Department of Children and Families and other state agency offices.
According to an earlier Bay State Banner report, the Dudley Square Tower would include office, residential and retail space. Retail would be located across the tower's first two stories and would incorporate the adjacent existing bank building, which would be preserved. At the tower's center would be office space, and on the tower's upper floors would be residential units targeted towards middle-income residents. This page will be updated with additional information as it becomes available; a preliminary rendering of the Dudley Square Tower is posted above.