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 North Station market is growing up. Yes, it is still home to The Garden, but with 2.5 million square feet of new developments, it is poised to rival any Boston submarket.
Unlike the Seaport, it offers a commuter rail hub in North Station, light rail service from the Green and Orange lines, and Interstate 93 – making it a commuter’s dream.
Banker&Tradesman reports, “by 2020, the addition of more than two and a half million square feet of new development promises to reshape the neighborhood with the inclusion of retail, office and hospitality developments…It will also include market-rate and middle-class housing, which will contribute to Boston Mayor Martin Walsh’s goal of creating 56,000 new units by 2030. Growth has been so explosive that the city is developing a North Station Area Mobility Action Plan to account for the thousands of commuters, residents, visitors and arena-goers that ebb and flow in and out of the area daily.”
Bulfinch Crossing is a 2.9 million square foot multi-phased development project that will replace the existing above-grade concrete Government Center Garage with a pedestrian-friendly streetscape, a public plaza and six mixed-use buildings on two appropriately-scaled urban blocks spread across approximately 4.8 acres. The demolition of a major portion of the garage over Congress Street will allow for daylight to shine on Congress Street for the first time in more than 40 years.
When fully built, there will be…1.15 million gross square feet of office space and 82,500 gross square feet of retail space at Bulfinch Crossing.
According to the BBJ, “the long-delayed $1.5 billion plan to convert the hulking Government Center Garage into a six-building, 2.9 million-square-foot mixed-use project…spans almost 5 acres and two city blocks, centered around the 1.2 million square-foot,1960s-era parking and office complex at One Congress St. near Boston’s City Hall.
The Boston Business Journal also notes “at full buildout, the six-building project is slated to include:”
• 1.15 million square feet of office
• 85,000 square feet of retail
• 812 residential units
• 196 hotel rooms
• 1,160 parking spaces
• 1-acre “rooftop amenity” on the project’s west parcel
• 1+ acre urban public plaza on the project’s east parcel