CONSTRUCTION & DEVELOPMENT
Want to get a jump-start on upcoming deals? Meet the major Boston players at one of our upcoming events!
|Skanska, in a JV with JF White Contracting, will build the $254M, vertical Fore River Bridge—connecting Weymouth and Quincy—for MassDOT. It'll be completed by February ’17.***|
|Boston University will undergo a $172M overhaul and expansion of its Law School at 765 Commonwealth Ave, which was designed by Louis Sert and built in ’64. The existing exterior and 150k SF interior will be renovated and a 95k SF addition built. Construction, slated to start this coming winter, will be completed by fall ’15.***|
|Boston Residential Group will start construction on Olmsted Place, a $75M, 196-unit residential complex to replace the Home for Little Wanderers in JP. Construction on the ADD Inc-designed building is scheduled to start in April at 161 S Huntington Ave; the project includes 30 affordable units and 156 parking spaces, most below grade.***The city approved First Bristol's design for a $32M, 177-key Hilton Garden Inn and retail plaza near Logan International Airport at six acres of former industrial land on Route 1A. The development team, which includes Marshall Properties, has agreed to build an access road from 1A to ease traffic.|
The North Bennet Street School will create a new $16M home by renovating 61k SF at 130-140 Richmond St and 152 North St, and adding a new 4,000 SF, two-story extension to an existing low-rise facility at 150 North St. The connecting buildings will house classrooms and public education areas. The school will also make improvements to Richmond Street and North Street.
Boston Properties, in exchange for approvals to build the new Broad Institute lab/office building in Cambridge, is proposing to develop a new 12-story, 200k SF multifamily building on Ames Street in Kendall Square. BP says that this may include 300 SF “innovation units." It will start construction in ’14 at the earliest.
|KS Partners, in a JV with a NY-based investment firm, purchased a 620k SF office portfolio at Corporate Ridge Office Park in Rocky Hill, Conn. from New Boston Fund for $65M. The eight-building,off-market purchase in Greater Hartford—the largest in the company’s history—brings its roster of properties to 2.8M SF. Saul Ewing’s Sally Michael was the attorney for the purchase, while Marcone Capital’s Mike Marcone arranged the financing, provided by Barclays Capital.|
|Among the nearly 300,000 spectators and 9,000 athletes at last weekend's Head of the Charles Regatta were this year's Doubles Champions Iztok Cop of Slovenia and Olaf Tufte of Norway (first and third from right). They were members of an eight-person team of Olympic medalists and world champs from eight countries, all sponsored by JLL. The CRE company has delivered real estate services to the Olympics in London, Sydney, and Bejing.***|
| Electric Supply Center CEO Larry LaFreniere, Muscular Dystrophy Association ED Dave Spellman, Bard, Rao + Athanas Consulting Engineers prez Allan Ames, and former BR+A employee Nick Johnson were all on hand for BR+A's 13th annual Charity Golf Outing, which raised $50k for MDA. Over the years, BR+A has raised $300k for MDA.***|
The Franklin Square House Foundation awarded $36k to Heading Home to renovate its Medford Family Life Education Center (MFLEC), a transitional housing program for local, homeless single women and their children.