Boston Real Estate

Boston's Redevelopment Authority approves $393 million in projects

Boston's Redevelopment Authority approves $393 million in projects

In addition to approving a 17-story office tower in Boston’s Back Bay neighborhood, the Boston Redevelopment Authority approved four real estate developments totaling $393 million in private investment.

Following public hearings Thursday, the BRA approved the $192 million officer tower at 888 Boylston St. and a new $129 million residential building at Exeter Street. Both projects were envisioned as part of the Prudential Center Master Plan. The Exeter Street tower will include 188 apartments.

The BRA also approved a new plan for two commercial buildings on Summer Street in the Fort Point Channel.

Previously approved in 2006 as a residential development, the properties at 316 and 322 Summer Street will now be combined for use as a 140,100-square-foot commercial office building, with retail space. Lincoln Property Company, the new owner and developer, will spend $32 million to renovate and connect the existing buildings along with a one-story rooftop addition. The project includes 15,500 square feet of retail and restaurant space along Summer and A streets.

Three former warehouses at 49, 51 and 63 Melcher St. in the Fort Point Channel area will be combined into a single 221,500-square-foot building with office and retail space.

The total investment in the Fort Point Channel project is $72 million.

Source: Boston Business Journal

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