The Boston real estate market is collectively on the rise, with six impending towers set to stand at least 300 feet. None of these projects are massive in scale on their own, but combined, they fortify Boston’s continued presence on the world’s real estate stage.
The combined projects include office, retail and residential space for lease.
Curbed Boston highlights the elements comprising the project’s relative stout within the traditionally ‘height-averse’ market:
One Congress – the tallest new office building in Boston since the 590-foot One Financial Center opened in April 1984
Bulfinch Crossing residential tower – residential spire is expected to stretch to 480 feet and 45 stories, and to include 368 apartments and 55 condos.
1000 Boylston – 484-foot, 32-story residential, retail, and parking tower over the Massachusetts Turnpike.
Hub on Causeway – 1.87 million mixed-use square feet on and around TD Garden and North Station—includes a 498-foot, 38-story tower.
Back Bay Station tower – 1.26 million square feet of residences, offices, retail, and other space around and atop Back Bay Station.
Fenway Center – Includes a residential-office-garage tower of 305 feet.
The Class A & B office space in Boston has never been closer than what we are experiencing now. The rents low rise Class A and Class B are near identical with the differentiators being loss factor, amenities and fit up from union versus nonunion general contractors.
Mayor Marty Walsh’s proposal would bar future developments (except Millennium’s) from casting a shadow over the Common, Public Garden and Back Bay’s Copley Square. The plan would also call for new zoning in the Financial District and Downtown Crossing. The shadow change also needs state approval by Gov. Charlie Baker and the state legislature due to the changes it would bring to the Massachusetts’ 1990 shadow law.
Boston’s City Hall Plaza is in the midst of a transformation into a winter wonderland regardless of temperature.
According to the Boston Globe, “the dreary landscape will [soon] turn into something unrecognizable — a winter wonderland, with a giant ice skating loop, ‘chalets’ selling ornaments, chocolate fountains, and copious holiday decorations…’Boston Winter,’ which debuts Friday, seems like a smaller version of New York’s impressive Bryant Park. Though less ambitious than originally planned — the restaurant and ‘iconic observation wheel’ proposals envisioned for next spring were scrapped due to logistics and finances — the site is the realization of Mayor Martin J. Walsh’s vision to reinvent the plaza.”
Boston appears to be ready to welcome a new 1,000 room hotel to the Seaport District on Summer Street, directly across from the Convention Center.
According to Curbed, “a development team that includes the folks behind the Omni brand have emerged as the top bidder to construct an inn with at least 1,000 rooms on a 2.1-acre site in South Boston…the Massachusetts Port Authority is expected to award the bid within the next three months…The hotel would be one of the biggest in Boston.”
From parking cars to a place to park yourself for a good night’s rest in a 15-story boutique hotel on North Washington Street.
According to an article on the Bizjournals Boston site, “Tom MacKay of LIMAC LLC and consultant Fred Mannix, who has developed the 112-room Hotel Onyx in the Bullfinch Triangle, filed the proposal March 17 with the Boston Redevelopment Authority that calls for a 74-room hotel at 88 North Washington St…The hotel will be developed on the 2,100-square-foot site along with a lobby and cafe.”
You can read the full article on the Boston Bizjournals website.
The Boston Skyline is expect to change by 2020 and here’s what it might look like. The interesting part of this is 3 of the top 10 are residential, where is years past the top 10 have always been office.
Curbed, Boston recently published a projected list of the 10 tallest buildings in 2020, including the following three:
“We wanted to start at the CIC where we could integrate ourselves with a lot of really forward-thinking businesses in Kendall Square and Cambridge, but we wanted to have a permanent office to continue to grow our staff and have in-person support for our drivers,” [Lyft’s Boston General Manager Tyler George] said in an interview.
“We want to be able to have a big enough space to hold events and parties for drivers and passengers,” he said. “It’ll be a significant piece of real estate.” Venture-backed Lyft was founded in 2012 and earlier this year landed another $1 billion from investors including General Motors Corp., valuing the company at $5.5 billion.