Boston Construction

2018 Round-Up: BPDA Approved $7B, 12.1 Million SF in New Development This Year

2018 Round-Up: BPDA Approved $7B, 12.1 Million SF in New Development This Year

2018 has been quite a year for new developments in Boston. This year, the Boston Planning & Development Agency has approved 12.1 million square-feet of new development projects, valued at nearly $7 billion.

The approved projects will generate over $37 million in linkage funding for affordable housing and job training this year, $30.9 million for housing and $6.2 million for jobs. Twenty percent of all residential units approved are income-restricted. In total, 891 of the 4,405 residential units approved this year will be income-restricted for low- or middle-income families.

The projects moving forward make progress towards Mayor Martin J. Walsh's goal of increasing affordable housing to support a strong middle class. In response to increased population growth, Mayor Walsh announced updated housing targets supporting the creation of new affordable housing, increased homeownership opportunities, and preventing displacement of residents.

 

Developments to Watch in 2019

Hub on Causeway

100 Legends Way | North End

0.338143001517513707

Number of Units: 440 Under Construction

Number of Floors: 38

Already surpassing The Benjamin & Via's ranking as Boston's largest mixed-use project, The Hub on Causeway at TD Garden will deliver a 1.87 million square-foot complex with residential, retail, office and hotel uses.

The project is split into three phases, with Phase 1 calling for the construction of 210,000 square-feet of multi-level retail/restaurant space including a Star Market and cinema, 175,000 square-feet of office space, 64,000 square-feet of expanded TD Garden space, 10,000 square-feet of sprawling outdoor space connecting TD Garden and North Station, as well as 540 underground parking spaces.

Phase Two, with a yet undetermined construction date, will comprise a 38-story residential tower with approximately 440 units and a 10-story hotel tower with 260 rooms.

Phase Three will deliver a 21-story, 525,000 square-foot office tower.

Sign up for Construction/Sales Alerts

 

Flats on Haynes

14-20 Haynes Street | East Boston

Haynes1

Number of Units: 11 Under Construction

Number of Floors: 3

Introducing Flats on Haynes - 11 luxury condos in the heart of East Boston's Jeffries Point.

Comprised of one-, two-, and three-bedrooms, these residences offer a respite from city life, conveniently situated moments from Piers Park, Maverick Square and the MBTA Blue Line.

The ground-up construction will house bright and spacious residences - several with stunning direct water views. Penthouse units feature private roof decks. Garage parking available with select units.

See more and schedule a showing at FlatsOnHaynes.com

Sign up for Construction/Sales Alerts

 

Winthrop Square Tower

115 Devonshire Street | Financial District

0.229080001493401451 (2)

Number of Units: 500 Under Construction

Number of Floors: 53

Towering high into the Boston skyline at a height of 691 feet, the Winthrop Square building will redefine residential luxury in Boston. Millennium Partners, the developers who have constructed Midtown's Millennium Place and Millennium Tower, have taken on the reins of this project. Their proposal has been approved by the Boston City Council - which calls for a $1.02 billion, 53-story luxury tower.

The project will contain residential and commercial uses and a below-grade garage with 550 parking spaces. It is anticipated to contain approximately 750,000 square-feet of commercial space; 31,000 square-feet of retail/restaurant space; and a 12,000 square-feet, publicly-accessible Great Hall component. Millennium Partners seek to create an interrelationship between the private residences and public landscape. The development will continue to elevate Winthrop Square as the locale for modern, luxury living.

Sign up for Construction/Sales Alerts

 

Fenway Center

820 Beacon Street | Fenway

0.476815001513002680

Number of Units: 312 Under Construction

Number of Floors: 14

The first phase of Fenway Center, which started construction this week, will take approximately two years to finish construction. It will feature two buildings comprising 312 apartments, 37,000 square-feet of ground-floor retail space, and 200 underground parking spaces.

The development further calls for a 12,000 square-foot air rights deck and landscaped pedestrian walkway to be constructed over Yawkey Station. Construction on the 8-story residential building will take about 18 months, and the 14-story residential building will open approximately six months after. The project's second phase, which includes air-rights over the Pike, will construct two additional buildings; one with 225 residential units and 150,000 square-feet of commercial space, and a second with 110 residential units and 10,000 square-feet of commercial space. In total, the massive Fenway Center project will cost nearly $600 million to complete.

Developer John Rosenthal has long been attempting to build on the 4.5 acre state-owned site. His plans for building over the Massachusetts Turnpike have produced numerous financial and logistical setbacks. With the lease closing, Rosenthal is eager to finally get to work on the highly-anticipated project. "It's hard to put it into words, because this has been like a Sisyphus type of Greek tragedy," Rosenthal remarks. "It's been so hard for so long. It's been a 15-year project, overcoming barriers, and having financing, and losing financing. But it finally closed, and I have the best partners from an equity and debt standpoint that I could ever ask for". He reflects that Fenway Center will soon become a model for smart growth, a transit-oriented development on underutilized parking lots where residents can live, work and play without vehicles.

Rosenthal's development partner, Gerding Edlen, has an extensive portfolio - developing projects including Troy Boston in Boston's South End, The Eddy in East Boston, and 315 on A in Fort Point. Gerding Edlen development partner, Kelly Saito, shared her remarks on the project. "We are very pleased that this important project for the Commonwealth of Massachusetts and the City of Boston will finally be realized. Fenway Center's phenomenal location, the vibrancy of the surrounding neighborhood and the continued demand for housing in the Boston market make this a great time to start construction."

Sign up for Construction/Sales Alerts

 

Bulfinch Crossing

1 Congress Street | North End

0.582430001485443021

Number of Units: 800 Under Construction

Number of Floors: 45

The construction of Bulfinch Crossing marks the first phase of the Government Center Garage Redevelopment Project in Boston's North End neighborhood. The project calls for a 2.9M square-foot mixed-use development with 1.15M gross square-feet of office space, 82,500 gross square-feet of retail space, 800 residential units, 200 hotel rooms, and 1,160 parking spaces.

The current concrete Government Center Garage displays a lack of urban connectivity. The developers of the project, HYM Investment Group, seek to redevelop the space to create a pedestrian-friendly, streetscape and public plaza. The structure at One Congress will provide residents with almost 360-degree views of downtown Boston, Boston Harbor, the Greenway, the North End and Old North Church, The Custom House, Beacon Hill, the Charles River, Back Bay and Zakim Bridge.

Bulfinch Crossing's first phase tower will feature 368 apartments and 55 condominiums for a total of 423 residences. From an urban design perspective, the project will use a variety of design techniques to break down the building's massing through scalable blocks. The blocks will also step down in height as they near the Greenway in order to preserve daylight in the park for the first time in 40 years. The building's penthouse and screens will be integrated into the façade to discreetly cover its mechanical systems from the view of passerby and will emphasize the building's graceful verticality. This project will no doubt bring a new era of stylish character to Boston's vibrant North End neighborhood. Expected completion date is September, 2020.

Sign up for Construction/Sales Alerts

Internet Marketing tips, tricks & talk delivered straight to your inbox.