|The Boston Redevelopment Authority approved a handful of projects last week. The four listed here are valued at nearly $2 billion. We always hear about Boston's high barrier to entry, so jumping over these hurddles is the biggest score since Ocean's 13.
|1. Millennium Tower
|The Big Daddy is the $615M Millennium Tower & Burnham Building (above) planned for the Downtown Crossing site that Vornado excavated, and then abandoned in ’08. It’s kind to say the hole left in the heart of downtown caused extreme consternation and raised doubts about the revival of the former retail Mecca. Hopes are high for this great location with super public transit;Millennium Partners plans to include 600 residences, perhaps 200k SF of retail, a similar amount of office, and parking for 550 vehicles.
|2. New Balance HQ
|Nobody will be barefoot at the construction site for New Brighton Landing, where up to 600 people will build the $500M New Balance HQ complex. (That'll improve its "days without an accident" numbers immensely. Yes, we're counting stubbed toes.) Sometimes considered an outlier location, the neighborhood will be reinvigorated by the 1.4M SF complex on 14 acres, which has: NB’s HQ that will provide 3,000 new jobs, up to 500k SF of offices, a 300k SF sports complex, a commuter rail station, up to 23k SF of retail/ restaurants, and parking for 750 cars. New Balance will pay to design, permit and build the new train station.
|3. 275 Albany Street
|The South End will get a new 330k SF gateway when Normandy Real Estate starts construction on its just approved $165M complex at 275 Albany Street. One 19-story tower will have up to 220 rental apartments, and another 11-story tower will have a 325-key hotel with micro-style rooms. The project also includes 2,011 SF of retail and parking for 165 cars. Two years ago, Normandy had proposed two hotel towers but changed course in August. The city recently rezoned the Harrison Albany Corridor to encourage more growth. ADD Inc designed the complex; it should take 24 months to build.
|4. 1282 Boylston St
|The Abbey Group’s $150M, 348k SF residential complex at 1282 Boylston St in the Fenway will boost the transformation of the area between the famed baseball park and the Longwood Medical Area. Last year, the developer was planning a mixed-use project, office with residences. Now, it’s going to be 322 housing units, including 36 affordable homes. On the ground floor will be 15k SF of retail and a community center. The developer plans a spring ’13 groundbreaking for the 18-month project. While these projects will still undergo zoning and final design approval, the BRA is “confident” the developers will get the nod and complete permitting by year-end.