Kenmore Square North

BPDA Approves Kenmore Square North Development

The Boston Planning Board has approved Related Beal's proposal to redevelop seven parcels along Commonwealth Avenue & Beacon Street. Six of the existing buildings will be demolished, and one will be renovated and expanded to construct two new, mixed-use buildings. The Project includes around 280,000 square feet of newly constructed and renovated office and retail space, and approximately 60 parking spaces. The beloved Citgo sign will remain in place as part of the development.

Related Beal Receives Design Approval for Kenmore Square

Related Beal has received design approval for its proposed Kenmore Square redevelopment project and to the delight of many includes the Citgo sign. Over the past several months the developer has submitted at least seven revised designs for the project. The architecture team on the project includes Stantec, Roger Ferris + Partners and Kyle Zick Landscape Architecture Inc.

Will the Citgo Sign Last Forever?

The Boston Landmarks Commission held a public hearing on Tuesday night to decide the fate of Fenway's beloved Citgo sign.

The future of the iconic sign has been in question since Related Beal acquired several buildings in Fenway from Boston University back in 2016. The famous sign, which often makes appearances during Red Sox's broadcasts, has been looking over the area since 1965.

Related Beal's plan is for a long-term lease for the sign that would leave it in its current state on top of 660 Beacon for years to come.

However, landmarking the sign is a different story. If the city of Boston were to do so, new regulations that are a part of preservation could greatly impact the development of the area in order to preserve views of the sign.

Regardless of the decision made by the commision, Mayor Walsh and the City Council will have the final say on the fate of the sign at 660 Beacon Street.

Related Beal Reveals Plans for Kenmore Square North

Roger Ferris + Partners

An artist’s rendering of what will be called the Commonwealth Building.

Related Beal has revealed plans for their proposed Kenmore Square North Project. With the help of Roger Ferris + Partners, a Connecticut based architecture firm, the vision of the future structure has come to life. The Commonwealth Building, as it has been dubbed, will be an eight-story glass building, with portions of the top floors facing directly towards the famous Citgo sign. Related Beal has plans to add an additional office and retail building to the block as well.

According to the Boston Globe, the building will feature a stair-like design, with several floors set back in step-like fashion to ensure unobstructed views of the Citgo sign. The “steps” would also provide outdoor terrace space for office workers.

“We felt the corner building would stand out a little bit more on its own, and we wanted that to have a more modern feel,” said Patrick Sweeney, senior vice president at Related Beal. “Outdoor terraces [were included] to ensure from several locations that the view corridors were maintained, and to create an interesting building design that wasn’t a square or block, that had some context to it.”

The future property is planned to include 130,000 square-feet of office space and 10,000 square-feet of retail space and 60 underground parking spaces.

Proposed Kenmore Square North development would preserve Citgo sign

Related Beal, who acquired nine adjacent buildings in the heart of Kenmore Square atop which stands the legendary Citgo sign for nearly $134 million in Fall 2016, has revealed preliminary development plans for the property. The proposed project, dubbed Kenmore Square North, calls for six of the buildings to be retained and improved, and three of the buildings to be demolished and replaced with new construction.

Modest improvements are proposed to two four-to-six-story buildings at 11-19 Deerfield Street and 642-648 Beacon Street at either end of the portfolio, which extends east along Beacon Street from Deerfield Street overlooking the Kenmore MBTA station. Four six-story buildings at 650, 652-654, 656 and 660 Beacon Street would be fully renovated to contain office space and creative workspace, with retail on ground floors. Related Beal hopes to keep the Boston University Bookstore as a tenant of 660 Beacon Street, the building on top of which the Citgo sign stands.

Three buildings ranging from two to six stories at 533, 535-539 and 541 Commonwealth Avenue, located at the intersection of Commonwealth Avenue and Deerfield Street, would be demolished, and replaced with a new eight-story, 165,000-square-foot building containing office space and ground-floor restaurant/retail space that will preserve views of the Citgo sign from west of Boston. An architect has not yet been decided upon for the proposed development, which is now under review by the City of Boston.

The development would create a total of approximately 400,000 square feet of office space in the Fenway neighborhood, which is fast becoming a desirable office location. Samuels & Associates recently shifted the focus of its’ 401 Park development from residences to offices, and the 237,000-square-foot Van Ness office building, also developed by Samuels, is fully leased. Kenmore Square itself is seeing significant development, with the first phase of the $600 million, 1.1-million-square-foot Fenway Center development now underway and two hotel towers containing a total of 763 rooms proposed as well. Later phases of Fenway Center will include an additional 160,000 square feet of office space.

Related Beal acquires BU Kenmore Square buildings for nearly $134 million in ground lease

Related Beal closed Friday (October 20th, 2016) on its' acquisition of nine Kenmore Square buildings totaling approximately 335,000 square feet from Boston University. The final sale price was $133,990,250, or approximately $400 per square foot. Boston University retains ownership of the land on which the buildings are constructed; Related Beal commenced Friday a 99-year ground lease on the land.

From West to East, 11-19 Deerfield Street sold for $28,725,754, 533-541 Commonwealth Avenue sold for $26,494,270, 650-660 Beacon Street sold for $57,631,239 and 642-648 Beacon Street sold for $21,138,987. The following are the deeds for Related Beal's acquisition of the nine buildings:

The following is the Notice of Lease for Related Beal's 99-year ground lease:

Boston University officially announces Related Beal as Kenmore Square portfolio buyer

In an official press release last Friday (August 12th, 2016) morning, Boston University (BU) officially announced Related Beal as the buyer of BU's nine-building Kenmore Square real estate portfolio. Related Beal will reportedly acquire the nine buildings and enter a long-term ground lease with BU; The Real Reporter reports that the price for Related Beal's acquisition could approach $150 million. The nine existing buildings total 335,000 square feet and span the north side of Kenmore Square from 648 Beacon Street to 541 Commonwealth Avenue and 11-19 Deerfield Street. 

"Development by Related Beal will make Kenmore Square even more attractive as a venue for retail and innovation and as a livable neighborhood adjacent to a major university. We look forward to working with Related Beal to help realize this vision,” said BU President Dr. Robert A. Brown. “Boston University plays a critical role in Boston's education ecosystem and we are thrilled to be selected to reimagine these key buildings adjacent to their campus. This significant location serves as a vital connection between Fenway, the Back Bay and Brookline and we look forward to working with BU, the BRA, and the community to create a plan that will contribute to the vitality of Kenmore Square, said Related Beal President Kimberly Sherman Stamler.

Related Beal reportedly acquiring Boston University's Kenmore Square building portfolio, home of Citgo Sign

The Real Reporter reports that developer Related Beal will acquire Boston University's nine-building Kenmore Square portfolio, home of the famous Citgo Sign. The buildings are reportedly being sold for upwards of $145 million and could approach a price of $150 million. The nine buildings total 335,000 square feet and are located at 642-650 Beacon Street, 533-541 Commonwealth Avenue and 11-19 Deerfield Street. The buildings are home to existing retail tenants including Barnes & Noble, Bertucci’s Restaurant and Cornwall’s Pub.

Related Beal is currently building Parcel 1B and 131 Beverly (Lovejoy Wharf) in Bulfinch Triangle and acquired the John Jeffries House hotel in Beacon Hill last week for $25 million. The hotel is located next to a parking garage Related Beal acquired in July 2015 for $40 million.