Transactions - JUNE 15, 2017

Cottonwood Management breaks ground on $900m project in Boston

by Andrea Waitrovich

Cottonwood Management has started construction of Echelon Seaport, a three-tower, $900 million mixed-use development in Boston’s Seaport district.

Echelon Seaport is located at Seaport Boulevard and B St. The 3.5-acre development will be set to open in phases between 2019 and 2020. The 1.33 million-square-foot Seaport Boulevard project will consist of 773 condominiums and apartments and 125,000 square feet of retail space. Echelon Seaport will include 50,000 square feet of indoor and outdoor amenities, including two outdoor pools, an indoor spa pool, fitness center and two sky lounges. The project will also feature underground parking and bike storage.

Marty Walsh, the Mayor of Boston, described the project will pave “the way for more people to see the Seaport as a place to not only work in and visit, but also a place to live in and call home,” in a Metro article.

Boston has several new projects of new inventory either proposed or permitted to move forward. Projects include:

  • Corcoran Jennison Associates and SunCal plan to replace the existing 1,100 affordable apartments at the New Deal-era Bunker Hill housing complex. The developers would also add 2,100 market-rate apartments.
  • Boston Properties and Delaware North is currently developing the Hub on Causeway, which will consist of more than 1.87 million square feet of shops, restaurants, offices, hotel rooms, and residences, as well as an expansion of nearby TD Garden and transit improvements to North Station.
  • In May 2017 the Boston Zoning Commission tabled the Garden Garage project in the West End at 35 Lomasney Way. The Garden Garage project proposal by Equity Residential is a $390 million, 44-story, 470 apartment building with an 830-space underground parking garage. The site is commonly known as Basketball City.
  • National Real Estate Advisors and the HYM Investment Group is developing the $1.5 billion project Bulfinch Crossing, a six-building development that is replacing the Government Center Garage.
  • Hines proposed South Station Tower, a 970,000-square-foot building at South Station. The office space will comprise the first 26 floors, with the top 16 stories full of 155 luxury condos.
  • South Bay Shopping Center will add 475 apartments in a 10-acre complex. The project will also include restaurants, a 130-room hotel, and a 12-screen movie theater. It will involve the construction of five six-story buildings. It is expected to be finished by summer 2018.
  • The Boston Planning and Development Agency on March 2 approved Tremont Crossing, a multi-building project totaling 1,928,400 square feet at Tremont and Whittier streets in Roxbury.
  • Stop & Shop plans to build a major development on an 11-acre site. The project is called Allston Yards. The development would unfold in two phases. The project would contain 1,010 new residences and total 1.9 million square feet.



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