More residential units added to multi-tower project proposed at South Station
After evaluating changes in market conditions, the developer of a three-tower project over South Station has decided to add more residential units.
In a project proposal change sent to the Boston Redevelopment Authority on Friday, real estate developers Hines and Gemdale Properties confirmed previous reports that they were adding 175 residential units in one tower, and they left open the option to add more than 300 additional residential units to a tower previously dedicated to hotel rooms.
The huge South Station project has been in the works since 1989, with various developers and many changes before the BRA approved a plan in 2006. For financial reasons, the project was delayed until May 2016 when new developers came in with money to back the construction.
The three buildings originally approved included: a 678-foot-tall office tower, a hotel with some residential space, and another shorter office building.
“Due to changes in market conditions since 2006, the amount of office space being proposed has been reduced and the portion of space devoted to residential use has been increased,” said David Perry, senior managing director at Hines, in a prepared statement to Boston Business Journal.
The taller tower previously dedicated to office space will now include 175 residential units and contain 43 stories in a slightly shorter 677 feet. There is also the potential to add 260 condo units or 375 rental units to the 17-story hotel project, but a final decision has not yet been made. The proposal notes that the “potential mix of residential/hotel will depend on market conditions.”
BBJ notes that Hines expects the project’s first of three phases of construction to start in 2017 and then last another four years.
To comment, please create a screen name in your profile
To comment, please verify your email address
Conversation
This discussion has ended. Please join elsewhere on Boston.com