Credit: Boston Globe
The South Station tower moves closer to reality despite some obstacles. The tower would be built on spec.
From the Boston Globe:
The Boston Planning & Development Agency board approved plans for a 51-story office and condominium tower over the busy rail hub…Development firm Hines would build the tower above the rail shed at South Station, with a lobby along Atlantic Avenue. That lobby would fill in the gap between South Station’s main concourse and its bus terminal, and would expand the bus facilities by 50 percent. It would also expand a parking garage, adding 527 spaces.
Above that, Hines would build 1.1 million square feet of office space and condos in what, at 677 feet high, would rank among the city’s tallest buildings. Later phases would add two mid-rise buildings atop the station.
Image Credit: cpexecutive
The Class B office market in Boston Financial District sees another trade: 70 Franklin Street.
“70 Franklin’s timeless architecture combines with its flexible floor plates, open office layouts and modern building systems to create one of Boston’s premier Class B buildings. As a result, the asset boasts exceptional leasing momentum with tangible upside potential in Boston’s booming Downtown district,” said [Capital Markets Vice Chairman Edward] Maher.
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Texas and South Station come together. It appears that Hines from Texas is dusting off the plans of South Station that last saw the light of day over 10 years ago.
From the Boston Business Journal:
The Boston Redevelopment Authority in 2006 initially approved a development plan from Hines and Tufts University affiliate TUDC Inc. for a 1.8 million-square-foot mixed-use air-rights development, to be built in three phases between the back of South Station and the existing bus terminal. At the time, plans included a 40-story office tower, a nine-story office building and a 13-story building that contained 200 hotel rooms as well as up to 195,000 square feet of residential space. The three towers were slated to range in height from 183 feet to 678 feet total, according to a 2006 development plan.
Representatives from Hines have been to Boston’s City Hall several times in recent months to discuss the project and potential changes. If Hines were to move forward with a project that’s significantly different than the project the BRA approved in 2006, the firm would need to file a notice of project change, said BRA spokesperson Nick Martin. That would kick off additional project reviews such as a public comment period and approval from the BRA board, Martin said.
Credit: The Boston Globe
GE has selected their location for the new corporate headquarters that sits on the edge of the Seaport overlooking Boston’s Financial District.
From the Boston Globe:
GE on Thursday said that it has reached a deal with Procter & Gamble to buy a roughly 2.5-acre piece of Gillette’s South Boston campus along Fort Point Channel, near the Summer Street Bridge and a short walk from South Station.
There, the company plans to rehab two empty brick warehouses — relics of the industrial waterfront — and construct a new building on a portion of an adjacent parking lot. There will be a large sign visible from downtown and public space that will showcase GE’s storied history. The location is firmly in Fort Point, a funky neighborhood full of smaller tech and creative firms that GE wants to tap as it transforms its business.
The largest commuter hub North of New York City is South Station, yet the largest abutter is a mail sorting facility. In 1965, yes 51 years ago, part of the site was sold and the Boston South Postal Annex was created. A number of things have changed since 1965 and some still need to; the Boston South Postal Annex should be redeveloped to better serve the community.
According to a B&T report, rather than “expanding the search to other Boston neighborhoods, or for that matter, suburban locations, the brokers working for the postal service have doubled down on Southie…Now brokers working for the postal service say they are moving closer to a deal for a site on D Street near the Boston Convention & Exhibition Center, where traditional South Boston meets the Seaport.
You can read more on the USPS’s hunt for space in Southie on Banker&Tradesman.
“Collaboration” seems to be the most common term in the lexicon of today’s emerging companies. A company dedicated to dynamic, collaborative office space is helping to ensure the trend has an increasing presence in Boston.
From the Daily Free Press:
“WeWork is a collaborative office space, with more than 2,000 members expected to call the Boston offices home by summer. The office space is shared primarily by early-stage startups that would otherwise not have access to many of the amenities available within the space.”
Additional information on WeWork is provided in the Daily Free Press article.