This Week’s Boston Deal Sheet
The North Station submarket has been transforming from outlier to core downtown neighborhood. The recent Boston Civic Design Commission approval of the $1B Boston Properties/Delaware North plan to build a mixed-use project at the TD Garden Causeway Street parking lot means it will take a quantum leap.
The development team is proposing a 1.87M SF, 2.8-acre residential high-rise and an office tower on top of a multi-level podium that will connect the North Station transit hub and TD Garden to Causeway Street. On Thursday, the BCDC gave a nod to Phase 1, designed by Gensler and SCB: a $285M steel-and-glass podium, “Champions Row,” which will house Star Market, a 20k SF sports bar for up to 500 patrons; a 50k SF entertainment venue seating up to 1,000 people; a movie theater; a bowling alley; and more retail. The developer is pre-leasing and expects to start construction on the podium phase this quarter, probably with third-party financing.
Phases 2 and 3 also will need to be reviewed by the BCDC and are slated to include a 500-unit residential tower, a 600k SF office tower, a 200-key hotel and parking for 800 vehicles underground.
Development & Construction
MEPT and Leggat McCall filed a letter of intent with the Boston Redevelopment Authority sketching out their plan to demolish or renovate several Boston Medical Center buildings they purchased in the South End a year ago. The team wants to build 700 apartments in two towers of 11 to 19 stories; renovate a vacant office and lab building at 575 Albany St; and include artist live/work space, and a gallery or restaurant.
On Thursday, developer Trinity Financial will join public officials and community leaders in Brockton to officially cut the ribbon on the $100M transformation of the former HQ of the Brockton Enterprise Newspaper. It now features 52k SF of commercial and office space, 10k SF of retail and artist exhibition space, the 42-unit Enso Flats artist live-work community and the luxury 71-unit Centre 50 community. Trinity Financial is also leasing about 4k SF of restaurant space. The development is across from the Brockton MBTA Commuter Rail station that provides service to Boston.
Benchmark Senior Living will break ground Thursday on its 53rd senior living community in Norwood. This $34.5M project will have 90 units—70 traditional assisted living and 20 for those needing memory care in a secure neighborhood.
On Thursday, Winn Development (pictured: Gov. Baker with Gilbert Winn) broke ground on a $30M adaptive reuse of the former HQ of the Fitchburg Yarn Co. Designed by The Architectural Team, the 110-year-old mill will become Nockege River, with 96 residences, including 24 for lower-income tenants.
Bridgeton Holdings of New York paid $24.5M to Gemini Real Estate Advisors of Huntersville, NC, for a 72-unit Holiday Inn Express & Suites in the West End across the street from the TD Garden. Marcus & Millichap was the broker.
Skanska USA likes the 440k SF building it developed for anchor tenant PricewaterhouseCoopers (333k SF) so much that it plans to move into 28k SF for its own offices by year-end.
Boston University has tapped Finegold Alexander Architects to renovate and refurbish the “Castle” at 225 Bay State Rd for its new alumni center. The Castle, 100 years young this year, was built as a home for the family of industrialist William Lindsey and later donated to BU as the residence for its presidents. It’s likely that the project will include a small expansion.
Wentworth Institute of Technology chose STV|DPM for the extensive $18M renovation and improvement of its library in Boston. It will be named The Douglas D. Schumann Library & Learning Commons to recognize the $5M gift that this alumnus and longtime benefactor donated to the project.