0 888 Boylston Street to Join Back Bay Skyline

Posted on May 23, 2014 by Wil Catlin

The skyline of Back Bay will see its newest member come out of the ground starting late this summer.

888 Boylston Street is Boston Properties final component of the Prudential Center that consists of: 800 Boylston Street (Prudential Tower), 101 Huntington Avenue, 111 Huntington Avenue along with the Shops at Prudential. This site is 23 acres that sits between Boylston Street and Huntington Avenue. It consists today of 2.6 million square feet of Class A office space, and 550 square feet of retail space, combined with underground parking for 3,660 cars.

Curious how Back Bay has changed over the years? Take a look at this aerial view of Copley Square taken from a plane in 1957, courtesy of BostonStreetCars.com:

Credit: BostonStreetCars.com

0 Improvements Marked for Downtown Crossing T-station

Posted on May 12, 2014 by Wil Catlin

Credit: Boston Herald

The growth of our city is at a pace not seen in years; tower cranes, cement trucks and the endless parade of tradespeople. What about below our city streets; are we building infrastructure to support this influx? This Boston Herald article about the Downtown Crossing T-Station caught my eye and merits some airtime.

A quote from T spokesman Joe Pesaturo, in the Boston Herald, piece focuses on the renovations at downtown crossing:

“The MBTA recently solicited bids for a sewer relocation project under the former Filene’s building. It is a first step in a multiphase project involving the Downtown Crossing station that will include access and aesthetic improvements.”

The full article is available on the Boston Herald’s website.

0 Boston Commercial Real Estate: Rife with Office Space Renovations

Posted on May 12, 2014 by Wil Catlin

Office building at 230 Congress Street

Landlords in Boston continue to make considerable upgrades to their buildings as part of the ongoing courting process for new tenants. Beacon Capital has continuously made improvements to its Boston assets such as 1 Financial Center, and the newly acquired 230 Congress Street.

Another recent renovation is 177 Huntington Ave., following the departure of Wayfair. A Banker and Tradesman article notes some of the buildings modifications:

“To reposition 177 Huntington for new tenants, Beacon installed new art and signs and LED news strips in the elevator bays. On Monday, Varano Group will open a Caffe Strega breakfast and lunch cafe in the lobby. The owners wanted a name-brand restaurant operator to set the lobby apart, Gratton said.”

0 Boston Harbor: today, as it was meant to be

Posted on April 28, 2014 by Wil Catlin

Credit: Bisnow.com

One of our city’s most valued resources wasn’t always treated as such. Yes, our waterfront. Not only has this become a destination location for visitors, but now we have new residential communities and office buildings that are the new gateway to the water.

Bisnow offers a perspective on how the harbor used to be, and what it’s evolved into.

“[today], many of the region’s major developers and corporations…now see how valuable a beautiful waterfront can be. Rents are rising for offices and multifamily residences and commercial property sale values are hitting all-time highs.”

The full article, including a comparison of ‘old’ Boston Harbor to a “men’s locker room”, is available here.

0 Mass. Pike Project to Alter Allston/Brighton Neighborhood

Posted on April 22, 2014 by Wil Catlin

Birds-eye view of the Mass Pike curves near Allston and Brighton

Credit: The Boston Globe

If you commute from West of the city using the Pike, it seems that your drive to Boston could get shorter, well kind of. The now-shuttered rail yards at the Allston/Brighton exit is the focus of an undertaking that aims to straighten the Mass. Pike roadway in that area.

According to coverage from The Boston Globe, “the state Department of Transportation project is simple: Rebuild Allston’s section of the Massachusetts Turnpike to make it less curvy, allowing for cars to travel through new, all-electronic toll plazas without slowing.,,But the $260 million construction project, scheduled to begin in 2017, has attracted the hopes and dreams of transit activists, business bigwigs, and leaders from around the region, all of whom believe the project, and the 60 acres of land to be opened up by the highway straightening, has the potential to dramatically redefine Allston-Brighton.”

Details on the proposed highway project are available on the Boston Globe’s website.

0 Boston Waterfront: $20M Upgrade Proposed

Posted on April 19, 2014 by Wil Catlin

Credit: Bisnow.com

This is terrific news and should be implemented immediately. Public access to our natural beauty is imperative to the City’s continued growth in the years to come. Not too far back, the suppression of the Central Artery bridged many areas of our city and created the Greenway.

From Bisnow:

“The City’s new proposal to spend $20M to upgrade 40 acres along the waterfront from the North End to Fort Point with open space, cultural attractions, and entertainment (fingers crossed for Ferris wheel) will elevate the rapidly changing district, BRA deputy director for waterfront planning Richard McGuiness tells Bisnow. The aim: upgrade the border of “our greatest natural resource: Boston Harbor.”

The complete Bisnow article is available on its website, here

0 Boston Office Market Maintains Strong Results for Landlords

Posted on April 10, 2014 by Wil Catlin

155 Federal Street

The Boston Office market continues to produce strong results for landlords. The low rise Class A and Class B market in the Financial District continue to offer a value option to prospective tenants.

According to news site, news.gnom.es, “First quarter 2014 marked Greater Boston’s fourth consecutive quarter of positive absorption. The market also posted its highest four-quarter positive absorption total since 2007, with 3.6 million square feet absorbed from second quarter 2013 through first quarter 2014.”

The article quotes 542,000 SF of positive adsorption in Boston in the First Quarter. You can read the full article, here.

0 Government Center MBTA Station Closed for Construction

Posted on April 5, 2014 by Wil Catlin

rendering of the new governement center MBTA station

Credit: Bisnow

Transportation is critical for any city to grow and prosper, and Boston is no different. On March 22nd, the Government Center T Stop closed for two years for a major overhaul. While this is a challenge for commuters during that time, the outcome stands to offer passengers a new gateway to Government Center.

From bisnow.com, speaking with MassDOT secretary Richard Davey:

“When construction is completed in three years, the universally accessible Government Center station will have a sleek, steel entrance with landscaping and will take riders to Logan Airport…It will also have new lobbies, elevators, fare collection, security, finishes, lighting, emergency exits, and more retail space.”

Additional information on the Govt. Center station overhaul is available on bisnow.

0 Commercial Development in Boston is Strongest in Years

Posted on March 13, 2014 by Wil Catlin

office tower in Boston on Boylston Street

Credit: The Real Reporter

Office development within Boston is at its strongest in years, some might even say ever. Most of what we are seeing is large residential projects, but Boylston Street continues to evolve with 888 Boylston St. breaking ground this spring, which will add to the 3.2 million square feet of office space that’s part of the Prudential complex.

The BBJ, reporting on a panel discussion hosted by NAIOP, printed the following:

The group agreed that a perfect storm led by the Big Dig’s completion, a growing population, a flood of Baby Boomers who want to return to the city, lower unemployment and a rush of foreign capital is lending to the city’s multibillion-dollar development pipeline.

“We are seeing an unprecedented amount of development going on all around in the city … and many of these projects are very large, complicated developments that we haven’t seen in 20, 25 years,” said Raiz Cassum, the event’s moderator and a senior managing director at HFF. “

The full article is available on the Boston Business Journal.

0 Fenway Center Banking on Tax Break

Posted on January 30, 2014 by Wil Catlin

Credit: The Boston Globe

Will the new mayor offer concessions where Menino wouldn’t? Fenway Center is an aggressive project that bridges the Turnpike between Fenway and Kenmore. Over the years, projects like this have fallen short due to the cost of construction and the inability to secure appropriate financing.

According to The Boston Globe, the developer of Fenway Center is asking for a significant tax break for the new project:

In a last-ditch effort to save one of the city’s largest construction projects, developer John Rosenthal is asking Boston Mayor Martin J. Walsh’s administration for a $7.8 million tax break to help build a massive complex of buildings near Fenway Park…“John’s a good man and I know he’s been working on this project for a long time,” Walsh said in a recent interview with The Boston Globe. “We’re going to look at [his proposal] and do what’s best for the city.”

The full article is available to online subscribers of The Boston Globe.