Related Beal Proposes 1.1M SF Mixed-Use Project On Former Gillette Parking Lot
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Related Beal and architecture firm Kohn Pederson Fox Associates revealed their plans at a Fort Point community meeting Thursday to turn a 6.5-acre parking lot the developer acquired in May into a mixed-use development. Related wants to develop the site, once part of the Gillette World Shaving Headquarters, into 1.1M SF of commercial projects, the Boston Business Journal reports.
The plan calls for a 17-story, 180-foot residential building, a 13-story, 180-foot office building and an eight-story, 123-foot laboratory building. The plan has been scaled down from an earlier proposal that called for four buildings.
The new vision adds more pedestrian walkways and green space to cut down on construction over the Ted Williams Tunnel, which runs directly under the site. Related Beal Executive Vice President Steve Faber told the BBJ the company hopes to build the project in one phase and expects to deliver to market in mid-2024.
Days before Related Beal’s $218M Gillette site acquisition, Alexandria Real Estate Equities and National Development bought General Electric’s 2.7-acre unbuilt headquarters site for $252M. That development partnership also bought a parking garage at 10 Necco St. in March for $81.1M. Alexandria is also partnering with Anchor Line Partners on a 210K SF lab building proposal at 99 A St.