The Davis Company has big plans for the Seaport area of Boston, which includes the construction of the Seaport’s largest hotel to date, along with the renovation of a 376-square-feet of industrial space in the heart of Boston’s most bustling commercial submarket.
“Our goal is to help continue the transformation of South Boston’s waterfront district, as there has already been significant development over the last several years,” Omni Hotels & Resorts CEO Jim Caldwell said.
The Omni project is not the only development the company has underway in the neighborhood. Davis announced in April a return to a stretch of the Seaport it famously revived before the rest of the neighborhood began its current building boom.
“The Seaport, and in particular the Raymond L. Flynn Marine Park area, is arguably becoming Boston’s most innovative research and development cluster,” Davis Cos. founder and CEO Jonathan Davis said.
Once a seller and now a buyer, the Davis Company is buying 88 Black Falcon Ave. for $60 million. The borders of the Seaport District submarket haven’t changed physically since Davis sold Back Falcon in 2006, but tenants desire to be there has changed. The Seaport office market has blossomed and is now one of the hottest markets in the country with a diverse tenant mix of TAMI, law, and life sciences.
According to a recent article from the Boston Business Journal, “the low-rise complex spans a combined 376,000 square feet, about evenly split between office and warehouse/R&D space, at the far edge of the Raymond L. Flynn Marine Park…Davis Cos. plans to put “tens of millions of dollars into the property,” said CEO Jon Davis, and has tasked architecture firm Dyer Brown with creating a warm industrial aesthetic. Planned improvements include bolstering 88 Black Falcon’s structural underpinnings, adding WiFi throughout the property, and creating a bike storage area and fitness facility. Davis aims to complete work by the second quarter of 2018.”
You can read more on the BBJ, here.