It appears that Boston Harbor will become the connection between North Station and the Seaport via new ferry service.
According to Curbed Boston, “The Massachusetts Convention Center Authority and a handful of private companies, including Vertex, are working toward launching weekday ferry service from Lovejoy Wharf near North Station to the Seaport District-slash-South Boston waterfront…The authority has issued a request for proposals to underwrite the service for a year, with an eye toward extending it for three additional years. If the authority can line up the private funding—and it looks like it can—then service could start in late August or September.”
You can read more on Curbed, here.
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.”
You can read the full article on Banker and Tradesman: Boston’s New Gateway
Related Available Office Space
North End and Govt. Center Office Space for Lease
Boston is getting a new landlord: a German pension fund just purchased the new Converse HQ in Brighton, MA. Boston continues to see an inflow into all asset classes against all price points.
• 232,000 Square Feet
• 197,000 of office
• 45,000 of retail
• 23,200 is the typical floor size
• 10 Stories
A Banker&Tradesman article notes that “at $800 per square foot, the transaction [for Boston’s Lovejoy Wharf] is slightly higher than the $750 per foot range for Class A office buildings that have sold in Boston this year. Approximately $8 billion in Greater Boston office deals have taken place in 2015, including nearly three-quarters to foreign investors.”
You can read more on the sale of the new Converse HQ on Banker&Tradesman, here.