ITK

Phoenix Property Company At A Glance


PROJECT STATUS
Interior Finishing: 1

WORK BY SECTOR
Housing: 1 |
Hotel/Lodging: 1 |
Parking: 1 |
Retail: 1 |
Office: 1

PROJECT SIZES
$0 - $10M: 0 | $10M - $100M: 0 | $100M+: 1

Totals

Total Square Footage Free
Total Dollar Volume Free

General

Established 1994
Website Free
Phone Number ITK

Formed in 1994, Phoenix is a nationally recognized, diversified real estate company with developments and investments in major cities across the United States. Noted for its extensive track record in developing award-winning multifamily and mixed-use communities on in-fill and urban sites, Phoenix has gained a reputation for recognizing emerging neighborhoods and creating iconic properties that encourage additional growth and revitalization. Phoenix also works with universities in evaluating their current and future real estate needs, and develops and own college student housing communities in multiple cities.

Updates

Parcel K
- May 29, 2020

Leasing Underway for Ora Seaport With crews back on site to complete interior finish work, leasing is also underway for Ora Seaport as part of the Parcel K mixed-use development. Apartments within the 304 unit building range in size from 434 square foot studios through nearly 1150 square foot 3 bedrooms. Prices are currently listed at $2610-$9355 per month. Amenities at Ora include a 12th floor Skydeck, fitness center, and rooftop pool.  


Parcel K
- Dec 29, 2019

Interior Finishing Underway for Parcel K in the Seaport Interior finishing is underway for both Ora Seaport & the Hyatt Place hotel as part of the Parcel K development in the Seaport. The Hyatt Place hotel will feature 294 rooms plus a rooftop gym, and 4,000 square feet of meeting and event space. Next door Ora Seaport, will feature 304 luxury apartments complete with a rooftop pool, landscaped courtyard, and gym and wellness center. A one-level underground parking garage at the project will have the capacity for approximately 450 cars. Construction is expected to wrap up this spring.


Parcel K
- Sep 06, 2019

Facade Install Nearly Complete for Hyatt Place on Parcel K Facade install is nearly complete for the 12-story Hyatt Place hotel on Parcel K in the Seaport. The 294 room hotel will include a rooftop gym, a coffee and cocktails bar, and 4,000 square feet of meeting and event space. There will also be 6,800 square feet of restaurant space on the ground floor of the hotel. Construction is expected to be complete in Spring 2020.


Parcel K
- Jun 25, 2019

Window and Facade Work Continues at Parcel K: Residential Building Gets a Name Construction continues on the Seaport's Parcel K with both the hotel and residential buildings set to open in Spring 2020. Ora Seaport, the residential building in the project, will include 304 luxury apartments. Units will range in size from studios up to 3 bedrooms, many featuring private terraces. Resident amenities will include a rooftop pool, Skydeck, gym & wellness studio, cafe/coffee bar, and concierge service. Next to Ora will be the Hyatt Place Hotel, featuring 294 guest rooms. The hotel is expected to open in March of 2020 and will be the first Hyatt product in the Seaport district. Hotel amenities will include  6,500 square feet of retail restaurant space, a lobby bar, outdoor patio, top floor pool, top floor fitness center, and rooftop deck. Rounding out the Parcel K project will be around 12,000 square feet of office space and 18,000 square feet of retail and restaurant space. A one-level underground parking garage will have the capacity for approximately 450 cars.  


Parcel K
- Apr 29, 2019

Exterior Work Progressing Quickly at Parcel K The mixed-use hotel and rental project on the Seaport's Parcel K are rapidly moving forward with window and exterior install ongoing. The project will include a 304 unit rental building and a 12-story Hyatt Place hotel with 294 rooms. The hotel has been designed to reflect the nautical history of its location with a refined sense of style and is set to open in March 2020.  The apartment building will feature a rooftop pool, clubroom, and a terrace. A one-level underground parking garage on the site will have space for 420 cars.  


Parcel K
- Feb 12, 2019

Framing Nearly Complete for Parcel K as Exterior Work Kicks Off Structural framing for the upcoming mixed-use project at Parcel K in the Seaport is nearly complete and exterior work has started. The 500,000 square foot project is comprised of two buildings, both 12 stories, one a Hyatt Place hotel, the other a rental project. The hotel will feature 294 rooms while the rental building will include 304 apartments. The buildings will also contain around 12,000 square feet of office space and approximately 18,000 square feet of retail and restaurant space. A one-level underground parking garage will have the capacity for approximately 450 cars. Construction is expected to be complete in Spring 2020.  


Parcel K
- Aug 16, 2018

Site work Begins at Parcel K in Seaport The building boom in Boston's Seaport continues as site work is not underway at Parcel K, at the corner of Northern Avenue & Congress Street.  The upcoming project feature 2 buildings, a 304 unit residential building and a 293 room Hyatt Place Hotel.  There will also be 12,000 sf flex/innovation space and 18,000 sf of retail on site.


Parcel K
- Nov 18, 2017

Ground lease approval moves 500,000-square-foot Seaport District development into construction phase Massport has approved a long-term ground lease for the 2.5-acre Parcel K in the Seaport District, allowing a 500,000-square-foot mixed-use development to proceed with construction next month. The development, developed by Lincoln Property Company and Phoenix Property Company, will feature 304 residential apartments, a 294-room Hyatt Place boutique hotel, approximately 12,000 square feet of office space and approximately 18,000 square feet of retail and restaurant space across two new-construction 12-story buildings. Construction is now expected to commence in December and last approximately two years. Parcel K is owned by Massport and located at 315 Northern Avenue in the Seaport District.


Parcel K
- Dec 18, 2016

Revisions approved to Parcel K mixed-use development in Seaport District Minor changes to the approved Parcel K development in the Seaport District were approved at Thursday (December 15th)’s Boston Planning & Development Agency (BPDA) Board Meeting. The revised project will move forward with 304 residential apartments, a 293-room boutique hotel, approximately 14,400 square feet of office space and approximately 18,000 square feet of retail and restaurant space. New rooftop amenities have also been added, including a small fitness room and pool at the hotel building and a pool, a clubroom and an outdoor roof deck at the residential building. On-site parking capacity will also be reduced slightly, to 420 from previously approved 640. Phoenix Property Company (PPC) and Lincoln Property Company (LPC), who are taking over the Parcel K project from Conroy Development, anticipate to start construction of the Parcel K project in March 2017, with completion anticipated in July 2019.


Parcel K
- Oct 02, 2016

Parcel K project changes proposed, developer partner joins team Per a Notice of Project Change (NPC) submitted to the Boston Planning & Development Agency (BPDA) last Thursday (September 29th, 2016), Phoenix Property Company (PPC) will partner with Lincoln Property Company (LPC) to develop Parcel K in the Seaport District; the following is a link to the NPC. It was announced earlier this month that LPC would take over the Parcel K project from Conroy Development, who was designated by Massport, the site's owner, as Parcel K's developer in 2009. LPC and PPC anticipate to start construction of the Parcel K project in March 2017, with completion anticipated in July 2019. LPC and PPC propose minor changes to the Parcel K project plan approved by the BPDA in 2009. The revised project would feature 304 residential apartments a 293-room boutique hotel, approximately 14,400 square feet of office space and approximately 18,000 square feet of retail and restaurant. As previously approved, two buildings, one with a hotel and one with residential units, would be constructed at Parcel K. Proposed hotel rooms have increased by 46, from 247 rooms to 293 rooms; the number of proposed residential units has not changed. Interior layouts of both proposed buildings have been modified to enable occupancy of the 12th floor; the 12th floor was previously proposed to contain mechanical space. As a result of the interior layout modification, the hotel's 12th floor would now feature a small fitness room and pool, and the residential building's 12th floor will now feature a pool, a clubroom and an outdoor roof deck.The previously approved building massing has not been altered with the proposed 12th floor modifications; total building square feet would increase by approximately 19,397 square feet to 499,500 square feet from previously approved 479,678 square feet. Parcel K’s underground parking garage would be reduced to one level and a maximum of 420 spaces from three levels and 640 spaces; 197 spaces would initially be striped.


Parcel K
- Sep 11, 2016

New developer taking over Parcel K project in Seaport, breaking ground early 2017Banker & Tradesman reports that Lincoln Property Company of Boston will take over the approved Parcel K development project in the Seaport District and hopes to break ground in early 2017. Lincoln Property Company Executive Vice President John Miller confirmed the news; Lincoln Property Company will self-manage the property. Conroy Development of Stoughton, MA was designated by Massport, the site's owner, as Parcel K's developer in 2009; Conroy Development's project plan received approval from the Boston Redevelopment Authority (BRA) in May 2014. The approved Parcel K plan will construct an 11-story residential building containing 304 rental apartments and a 10-story hotel building containing 250 rooms. Approximately 16,000 square feet of innovative office space and 25,000 square feet of retail will be located at the project's ground floor.


Parcel K
- Apr 27, 2016

Parcel K mixed-use project expected to break ground in Q4 2016 At last night’s Fort Point Neighborhood Association meeting, the Massachusetts Port Authority (Massport) gave an update on Parcel K, an approximately 500,000 square foot mixed-use project approved for construction on Massport's Parcel K in the Seaport District. The project is in its final design stage; expected completion of design work is in the third quarter (Q3) of 2016. The Parcel K project is expected to break ground in the fourth quarter (Q4) of 2016. Construction of the project will take just over two years, with expected completion in the first quarter (Q1) of 2019. The Parcel K project's developer is Conroy Development Corporation, who has entered a long-term lease with Massport to develop the parcel. More information about the Parcel K project is posted below.


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