This 30-story luxury condo tower represents the next phase for Fenway neighborhood
After building hundreds of deluxe apartments around Fenway, developer Steve Samuels now believes the neighborhood is ready for its first upscale condos.
Things have certainly changed in the once grimy neighborhood around Fenway Park, with one of Boston’s most prolific tower builders moving ahead with plans to plant luxury condos near the antique ballpark.
After building hundreds of deluxe apartments around Fenway, developer Steve Samuels now believes the neighborhood is ready for its first upscale condos, which, given the market, could easily sell in the high six if not in the seven figure range.
Construction crews recently kicked off work on the 30-story Pierce tower, which will include 109 condos on floors 19 to 29, with 240 apartments on the floors below.
“I think the landscape of the Fenway neighborhood has changed,’’ said Leslie Cohen, principal at Samuels & Associates, who is overseeing the $300 million project. “For us, it seemed the right time to bring homeownership to the neighborhood.’’
The Pierce’s will offer a mix of one, two and three-bedroom units, including five penthouses on each of the top two residential floors.
The units will all have floor-to-ceiling windows with various city views, including the Charles, as well as hardwood floors and other high-end finishes.
The 30th floor will sport a roof deck pool and other yet-to-be-announced amenities.
The tower’s sales team will begin marketing the condos this winter, with the tower slated to open in January 2018.
The target market will include young professionals form nearby Longwood and other hotspots, as well as empty nesters looking to sell their suburban spreads and move into the city, Cohen indicated.
The construction kickoff at the Pierce marks the latest chapter in an ongoing transformation of the streets around Fenway Park that began more than a decade ago.
The sale of the Red Sox to a group led by John Henry and Tom Werner, who pledged to renovate Fenway Park, marked a new chapter in the fortunes of the neighborhood. (John Henry also owns the parent company of Boston.com.)
The head of the trust that previously owned the Red Sox had pushed plans to demolish Fenway and clear a tract of businesses and buildings next door to make way for a new stadium.
The decision to keep the Sox at Fenway settled years of uncertainty over the fate of the 1912 ballpark, giving developers the confidence to invest in new projects around the neighborhood.
For Samuels, the Pierce marks the fourth major high-rise he has built in Fenway, with hundreds of new apartments at residences like the Trilogy and 1330 Boylston helping to attract new restaurants and other amenities.
“It is becoming a neighborhood that is very vibrant,’’ Cohen said.
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