What does it take to build a neighborhood in Boston? The creation of the Seaport is just that: in just over a decade we have gone from dirt lots, through planning, to a famed destination location that supports life, work & play.
Urbanland recounts a number of key milestones that propelled the development of the contemporary Boston Seaport:
With the completion of the Big Dig, it became clear that there was “an opportunity to develop a new city” in the Seaport, recounts Charles Leatherbee, director of development for Skanska USA, which has constructed multiple office and residential projects there since, including a 225,000-square-foot (21,000 sq m) office project in the marine park that broke ground in June. Observes Leatherbee, “Make no mistake, the Seaport has access to the single greatest resource the city has—the harbor—and they’ve been able to develop something quite cool, in my view.”
Additional Market Info
• Boston Seaport Real Estate
• Office Space for Lease in Boston Seaport
Trades continue to happen in the Seaport with W/S Development buying 12.5 acres for $359 million.
Banker&Tradesman reports “the parcels, which stretch from Northern Avenue to Summer Street, are the last available developable tracts within the master-planned Seaport Square that is reshaping the waterfront…They’re preapproved for 2.8 million square feet of development, including 1.25 million square feet of residential buildings, 500,000 square feet of stores and restaurants, 400,000 square feet of office space and three hotels. The land also includes a park currently being built between Seaport Boulevard and Northern Avenue, and the completed Q Park on Stillings Street.”
You can read more about the final developable area within Seaport Square on B&T’s website, here.
We have waited a long time for Seaport Square and now we can have a peak at what is underway. Construction should take about 3.5 years and will provide retail and residential to the flourishing recent office developments.3
From the BBJ, along with a Seaport Square slideshow:
“Developer John Hynes of Boston Global Investors said, ‘It’s all systems go on Monday’ and the project should be complete in 3 1/2 years. Hynes said the scale of One Seaport Square will be rivaled in recent Boston development history only by the 1958 construction of the Prudential Center and the 1984 construction of Copley Place…Stephen Wood of Berkshire Group said the residential component, which his company is handling, will be aimed at people who want ‘a seamless transition between their personal and professional lives.'”
You can read about the groundbreaking of One Seaport Sq. on the Boston Business Journal.