0 Millennium Partners Adds Downtown Crossing Cafè

Posted on July 1, 2016 by Wil Catlin

Credit: Bizjournals.com

Another caffeine fill up station is coming to Downtown Crossing to serve the ever-growing day and night population.

According to the Boston Business Journal, “Millennium Partners has leased a space in Downtown Crossing’s historic Burnham Building to Caffè Nero, a European coffee house, which will bring the 335,000-square-foot commercial space at the building and the adjacent Millennium Tower to full occupancy…The coffeeshop will be located on Summer Street less than half a mile from Downtown Crossing’s first Caffè Nero, which is located at the base of Millenium Place, another high-end condominium complex developed by Millennium Partners. Caffè Nero also has locations in Jamaica Plain, the South End and the Longwood Medical area.”

You can click through to jump to the BBJ article.

0 Downtown Crossing Poised for Another Triumph

Posted on July 9, 2014 by Wil Catlin

Credit: Bisnow

This is not the first period of growth or transformation for DTX, also known as Downtown Crossing. In 1979, Washington Street was made into a pedestrian-only roadway following the success of Faneuil Hall Marketplace. This resulted in a modest decline following the popularity of the vending cart program.

The fate of the neighborhood, now, seems set for a steep incline:

Bisnow states, “$210M Millennium Place mixed-use residential project that opened Q2 last year tested how housing would fare in the heart of this commercial neighborhood. All of its 256 condos sold by year-end priced from $550k to $3.5M. As one of the first Boston condo developments to be completed since the recession, it showed that buyers would put down stakes in the CBD, permanently changing the character of the historic neighborhood.”

A more detailed history on Downtown Crossing is available in the Bisnow article.

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 Why are they leaving Waltham for Boston and Cambridge?

Posted on April 5, 2014 by Wil Catlin

Kendall Square commuters rely on the T to get to work in Cambridge, Ma

Credit: MIT

Why are the V.C. firms leaving Waltham for Boston? Is it traffic and higher priced rents? No, the customer is there. Downtown Crossing (DTX) has evolved to being a hot bed of new technology companies that wanted a few simple items. Rents; looking for an affordable option, DTX has Class B rents ranging from the mid to upper $20’s to the mid to upper $30’s PSF. The swing in price is due the specific location, the build out of the space and the condition of the overall building. In addition some buildings have a staffed lobby, while other operate on a key FOB system.

Location; emerging companies are competing for a hot commodity, talented staff. Location becomes a huge factor what that young employee doesn’t own a car and relies on the T to get them around. DTX is uniquely positioned at the Red, Green, Blue and Orange lines.

So, that is why the V.C. firms are moving back to the city to pay Class A rents that can start in the upper $40’s PSF and beyond?

The latest Venture firm to vacate Waltham for Boston or Cambridge? North Bridge Venture Partners.

From betaboston.com:

North Bridge Venture Partners, based in Waltham, is planning to move to Boston or Cambridge some time later this year, said general partner Michael Skok. “Our leanings are toward the Innovation District or Downtown, mostly based on entrepreneurs saying it,” Skok said.

The Betaboston.com article on North Bridge Venture Partners is available in full, here.