More new retail, office and hotel options are coming to the Boston Financial District, centered around the intersection of State Street and Congress Street.
According to the BBJ, the Boston Redevelopment Authority’s agenda for its Thursday City Hall meeting includes the following projects:
A public hearing to discuss a proposed 23-story, 346-room“micro hotel which is designed to meet the changing needs/habits of today’s urban travelers” at 240 Tremont St. in the Theater District.
A public hearing to discuss Simon Property Group’s (NYSE: SPG)residential and retail expansion projectat 5 Copley Place, a proposed 52-story tower that includes 542 units of residential space spanning 680,000 square feet, a 54,000-square-foot addition to Neiman Marcus and a 60,000-square-foot addition of restaurant and retail space.
Scheduling a public hearing about Related Beal’s Congress Square project.
Approving and extending the Simmons College institutional master plan in the Fenway neighborhood.
TELCO costs have continued to tumble and now the there is a pay-as-you-go model for residential internet. Will the jump to commercial be soon to follow?
According to an article on FinancialContent, “netBlazr’s [new] Concierge is an ultra-premium, unbundled Internet service with speeds up to 10 times faster than cable and large telecom providers (above 300 megabits per second). netBlazr uses a building’s existing infrastructure and is available to select large multi-tenant buildings.”
“Internet is increasingly the most requested luxury amenity, especially among millennials. But property managers are justifiably wary of added expense and hard-to-maintain infrastructure,” said Jim Hanley, netBlazr’s co-founder and CEO. “netBlazr lets property managers offer residents affordable, Internet-only options without incurring any additional expense on their end. They also feel comfortable that netBlazr offers their sophisticated clients service as only a local company can. It’s truly a stellar customer experience.”
The Boston skyline is on the move. A Boston Globe editorial notes, “Boston is in the midst of a building boom never seen in its history, with an influx of new residents and companies giving rise to skyscraping towers, thousands of homes, and retail businesses that are redefining commercial districts citywide.” The Globe followed the article with a list of 50 of the largest development projects organized by expected square feet.
Among these office developments are projects at the Government Center Garage, South Station air rights, Tremont Crossing, and Landmark Center in Fenway.
Gone are the tall private cubes, now, contemporary office space is much more open and collaborative with bright colors. Healthcare in particular has gone through a tremendous transformation over the year. One of the most visible changes is how they use their office space. BXBS is showing off their new headquarters at 101 Huntington Avenue owner by Boston Properties.
According to a post on the BBJ, accompanying a slideshow of the new Blue Cross Blue Shield of Massachusetts HQ, the new space “takes up the 11th through the 20th floors of the building, with the exception of the utility floor on the 14th floor. The new space is 60,000 square feet smaller than its previous space — clocking in at 308,000 square feet and will save the insurer $2 million annually…The space has also been renovated to have the signature white and blue color scheme throughout. The color scheme mixed with bright LED lights give the headquarters a futuristic feel.”
Is WeWork onto something here or will this be a passing fad? Time will tell, but if the 90,000 glasses served last month are a litmus test of the future, WeWork is onto something that could transform how “Justin in time” office space is used.
At a basic level, WeWork is a company that sublets office space, taking care of many of the time-consuming hassles involved in self-employment. That’s not the factor, though, that has captured the fancy of venture capital investors, who have pushed the five-year-old company’s valuation to a giddy $5 billion…WeWork has cast itself as a new kind of workplace for the post-recession labor force and a generation that has never known a cubicle. It aspires to make your job a place you never want to quit.
City officials are reviewing designs for 50 Liberty Drive, a 14-story complex on the South Boston waterfront. The L-shaped condo tower would be built on parcel D, which sits directly east of the 109-unit Twenty Two Liberty condo tower now under construction.The new building would include 15,000 square feet of civic and retail space, including areas used by the New England Aquarium, Boston Children’s Museum and the Boston Harbor Island Alliance.
The 21-acre Fan Pier project will contain up to 3 million square feet of mixed-use development. The Boston Fan Pier development, a 252,000-square-foot condo tower, is expected to break ground in late summer.
The Boston skyline is poised to see significant change of the next five years as projects that are under construction come online. 115 Winthrop Square is getting attention and might be home to Boston’s second tallest building if O’Brien has anything to do with it.
According to Banker&Tradesman, “developer Thomas O’Brien of Boston-based HYM Investments is proposing a 69-story, 780-foot-tall residential tower that would become the city’s second-tallest building, just 10 feet shy of the Hancock Tower…O’Brien was one of eight developers who submitted proposals to build a skyscraper in the Financial District. The Boston Redevelopment Authority sought proposals for a one-acre parcel currently occupied by the municipal garage at 115 Winthrop Square. O’Brien’s plan calls for a substantial redevelopment of the square, including a new Boston public school and a relocated St. Anthony Shrine, friary and ministry center. Under the O’Brien proposal, the church properties and school would be built on the former garage site and a residential tower with 11,000-square-foot floor plates would be built on the former shrine property.”
10 Post Office Square is the latest acquisition by Synergy Investments that will be getting a makeover to attract today’s tech tenant. The price of $321 PSF was the winning number for the 82% leased asset which helps to anchor Post Office Square.
B&T notes, the makeover is designed to attract tech tenants with an updated lobby, new central reception area and conversion of lower-level space into a fitness center, bicycle storage and locker rooms, said Roger Breslin, senior vice president for leasing agent JLL. Collaborative workspaces and new food vendors are also planned…The 445,000-square-foot building is currently 82-percent leased.”
You can read the complete article on the modifications to 10 Post Office Square on Banker&Tradesman.
Not only do we in Boston believe that we have a flurry of startup activity, other across the country believe so as well.
Here’s a quote from the BBJ that represents this perspective on the Hub:
“At almost every tech event I’ve been to in 2014, everyone ranging from entrepreneurs and investors to politicians has talked about the booming innovation scene in Boston, and how Boston needs to tout its successes.”
The complete Boston Business Journal article is available, here.