Rendering: Boston Redevelopment Authority
The development team behind a massive air-rights project at Boston’s South Station has altered its plans for the three-tower project to boost the number of residential units and build a mixed-use skyscraper.
Global real estate development giants Hines of Houston and Gemdale Properties of Shenzhen, China on Friday submitted notice of project change documentation with the Boston Redevelopment Authority and with state environmental agency MEPA for the South Station project. That NPC alerts the city and commonwealth of Hines and Gemdale’s plans to alter the development scheme and design of a project that first received city approval a decade ago.
The updated development plan calls for a 2.522 million-square-foot development, to be built over three phases, including:
The project is also slated to include a 106,000-square-foot expansion of South Station’s existing bus terminal as well as a new five-level, 1,083-space parking garage.
“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. “The overall height and size of the project is substantially the same as the previously approved proposal. The expansion and completion of the bus terminal and construction of other transportation infrastructure improvements at South Station, all to be built as part of the private development project, remain integral components of the proposal.”
On the South Station development site, the BRA in 2006 approved a 40-story office tower, a nine-story office building and a 13-story building that contained 200 hotel rooms as well as up to 195,000 square feet of residential space. The three towers were slated to range in height from 183 feet to 678 feet. Hines’ co-developer, Tufts University affiliate TUDC Inc., had exited the project in 2009, and Hines never moved forward with construction.
The BRA in May certified Gemdale as Hines’ new equity partner in the project. Hines expects the project’s first phase of construction to start in 2017 and take four years to build.
Source: Boston Business Journal