Boston Development Projects in the PipelineApril 30, 2011
There are many construction projects waiting to take off, once a full financial recovery is in place. While Boston hasn’t been paralyzed during the economic downturn, it has fared better than other areas and doing fairly well. Some developments have been put on the backburner, but are on the verge of becoming a reality - hopefully soon.
Parcel 7 Air Rights over the Mass Pike is a combination of residential/commercial properties, waiting for an interested bidder. Several development groups have shown interest, but no one has taken the plunge yet.
There’s also the much anticipated Columbus Center that was put on hold due to lack of financing. Developers are not giving up on this $624M construction project just yet for good reason, since it will provide a fantastic boost to the area.
There have also been talks about building a luxury residential tower over the site of Nieman Marcus at Copley. When and/ if it will materialize, is unknown.
The MOST exciting project that just received Boston Redevelopment Authority (BRA) final approval is The Hayward Place on Washington Street (artist rendering below). Hayward Place is a Millennium Partners Project and is located directly across the street from their other successful project at The Ritz Carlton on Avery Street. They are proposing to build 265 luxury Boston residences with very high-end finishes. It is going to a fabulous addition to Downtown Crossing.
South Boston is also buzzing with new luxury residential and commercial projects ready to take off. Of course, the largest of them is the Fan Pier development. The Fallon Company has transformed Boston Harbor and created spectacular luxury Boston condos with nearby retail stores, entertainment venues and delicious restaurants.
These large-scale projects will no doubt add value for Boston residents and further contribute to the area’s already exceptional offerings. Contact me to discuss any of the developments further.