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Another Boston parking garage could bite the dust.
Oxford Properties wants to turn an old parking garage it owns at 125 Lincoln St. into a 625K SF office building, according to a letter of intent the developer filed with the Boston Planning & Development Agency late last week.
The 24-story tower would replace a five-story parking garage currently home to Hei La Moon, a popular dim sum restaurant in the garage’s ground floor. The building would be at a busy intersection where the Rose Kennedy Greenway begins and where Chinatown and the Leather District meet.
“The project will be a dynamic addition to downtown Boston that will revitalize the site,” Oxford Properties Head of Boston Development Mark McGowan said in the letter to the BPDA.
Further details on the project will come later, but McGowan’s letter indicates Oxford would include below-ground parking, ground-floor retail and a restaurant as well as outdoor public space in the development. The developer bought the garage in 2017 for $40M.
Several Boston parking garages have attracted developer interest in recent years. CIM Group and Boston Global Investors are partnering on a plan to turn the Motor Mart garage near Bay Village into a residential tower. A development team that includes Washington, D.C.-based National Real Estate Advisors, Carr Properties and the HYM Investment Group is underway on Bulfinch Crossing, a 2.9M SF mixed-used development replacing a portion of the Government Center Garage.
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