Project Progress: Project Approved

40% Complete (success)

About Kenmore Square North

660 Beacon Street, Fenway, Boston, MA

The approved redevelopment of nine buildings totaling approximately 310,000 square feet located in the heart of Kenmore Square.

The famous Citgo sign stands atop one of the buildings, 660 Beacon Street. Buildings range from two to six stories and extend from Deerfield Street west along Beacon Street.

Developer Related Beal acquired the buildings, which are located across from the Kenmore MBTA station, for nearly $134 million in Fall 2016 and proposes to redevelop the property while preserving the Citgo sign and views of the sign from across the Boston area.

Per Related Beal’s  development plans:

Two four-to-six-story buildings at 11-19 Deerfield Street and 642-648 Beacon Street at either end of the portfolio would be modestly improved.

Four six-story buildings at 650, 652-654, 656 and 660 Beacon Street would be fully renovated to contain office space, creative workspace, and ground-floor retail.

Three buildings at the corner of Commonwealth Avenue and Deerfield Street ranging from two to six stories, located at 533, 535-539 and 541 Commonwealth Avenue, would be demolished, and a new eight-story, 165,000-square-foot office building with a ground-floor restaurant/retail space would be constructed.

A total of approximately 400,000 square feet of office space would be created as part of the approved development.

Dollar Volume $134,000,000.00
Square Feet 282,500
Sector

Retail

Office

Stories 8

Latest Updates


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Nov 16, 2018

BPDA Approves Kenmore Square North Development

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Kenmore square redevelopment approval

Nov 08, 2018

Related Beal has received design approval for its proposed Kenmore Square redevelopment project and to...

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Kenmore square north

Oct 10, 2018

The Boston Landmarks Commission held a public hearing on Tuesday night to decide the fate...

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May 11, 2018

Related Beal Reveals Plans for Kenmore Square North

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Kenmore square boston university portfolio real estate related beal citgo sign

Jan 28, 2018

Proposed Kenmore Square North development would preserve Citgo sign

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Kenmore square boston university portfolio real estate related beal citgo sign

Oct 25, 2016

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

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Aug 12, 2016

Boston University officially announces Related Beal as Kenmore Square portfolio buyer

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Jul 20, 2016

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

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Latest Press Releases

Firm to redevelop nine buildings

 

BOSTON, August 12, 2016Boston University (BU) announced today that it has selected Related Beal to reimagine nine buildings spanning the north side of Kenmore Square, from 648 Beacon Street to 541 Commonwealth Avenue and 11-19 Deerfield Street. Related Beal will lead the redevelopment efforts. The buildings are being acquired through Related Real Estate Fund II, a real estate investment fund sponsored by Related Companies, and will enter into a long-term ground lease with the university.

 

“For decades, Boston University has sought to improve Kenmore Square with the goal of making it a safe, appealing, vibrant city hub that complements our campus,” said BU President Dr. Robert A. Brown. “Our earlier strategy was to acquire properties and set a standard for the tenants in the Square.  The success of this approach has made the Square more attractive to our students, the community, tenants and developers.  The sale of the properties in what we have called the North Parcel to Related Beal has initiated the next stage of the development of the Square. 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.”

 

“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,” said Related Beal President Kimberly Sherman Stamler. "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."

 

Related Beal has a storied history throughout Boston, including the transformation of Lovejoy Wharf into a vibrant, waterfront destination. Lovejoy Wharf includes the redevelopment of the former Hoffman Building at 160 North Washington Street into Converse’s iconic headquarters, a new Harbor Walk that now links Paul Revere Park to the north and the Rose Fitzgerald Kennedy Greenway to the south, connecting a string of open spaces stretching from Charlestown to Chinatown. Related Beal is also developing 131 Beverly Street and Parcel 1B, the City’s largest affordable and workforce housing project in 25 years, and Congress Square in Boston’s Financial District, repositioning five buildings with nearly 343,000 square feet of vibrant office and retail space.

 

About Related Beal
Related Beal is a fully integrated real estate firm focused on development and investment opportunities in Boston and the surrounding region. Related Beal leverages a national real estate platform with expertise across all asset classes and storied local experience in life sciences, commercial and residential development, property management and investment. Related Beal has developed, and is undertaking the development of, some of the most recognized buildings in the area including The Clarendon and One Back Bay, Congress Square and the Quinzani Bakery site in the South End. Related Beal also recently commenced construction of Parcel 1B in the Bulfinch Triangle. Slated for completion in 2018, Parcel 1B will be home to a mixed-use development that includes a 239-unit, 100 percent affordable and workforce residential building in downtown Boston. For more information on Related Beal, please visit www.relatedbeal.com.

 

About Related Companies

Related Companies is the most prominent privately owned real estate firm in the United States. Formed more than 40 years ago, Related is a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi, London, São Paulo and Shanghai and boasts a team of approximately 3,000 professionals. The Company’s existing portfolio of real estate assets, valued at over $20 billion, is made up of best-in-class mixed-use, residential, retail, office and affordable properties in premier high-barrier-to-entry markets. Related Fund Management, a subsidiary of Related, also manages approximately $3 billion of equity capital on behalf of sovereign wealth funds, public pension plans, multi-managers, endowments, and family offices. For more information on Related Companies please visit www.related.com.

 

About Boston University

Founded in 1839, Boston University is an internationally recognized institution of higher education and research.  With more than 33,000 students, it is the fourth-largest independent university in the United States.  BU consists of 17 schools and colleges, along with a number of multi-disciplinary centers and institutes integral to the University’s research and teaching mission. BU is a member of the Association of American Universities (AAU), a consortium of 62 leading research universities in the United States and Canada.

 

Media Contact for BU:

Colin Riley

Executive Director

BU

(617) 353 5386

criley@bu.edu

 

Media Contact for Related Beal:

Wendy Pierce

SVP
Solomon McCown

(617) 933 5024

wpierce@solomonmccown.com

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