Boston's Other Waterfront
Prince Lobels Craig Tateronis (left, with Mack-Cali Roselands Joe Shea) says developers have well-conceived waterfront visions beyond the Seaport District, but it takes perseverance. At a recent NAIOP event, he pointed to two: Mack-Cali Roselands $500M Pier One in East Boston and Related Beals Lovejoy Wharf in the West End, in the works for 12 years and eight years respectively. (Just think of how many embarrassing haircuts we've all been through in that time.) Some complexity arises from the need for state and city approvals and an effort to maintain balance at Boston Harbor between maritime uses, public access, and development. It may be time to reinvest in the maritime infrastructure, says BRA chief planner Kairos Shen.
Related Beals Peter Spellios says when construction is completed on Converses new 230k SF HQ building at Lovejoy Wharf by '14 (the first of seven buildings) the developer will start a 250k SF, high-end apartment building. For those wishing for more childcare centers in new developments, Peter says they would be more attractive for developers if the city succeeds in its effort to have daycare statewide considered as another option for a facility of public accommodation.Rents will start at about $3/SF and rise with the market.
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