Avalon Exeter | 77 Exeter Street | Back Bay
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Re: New Tower(s) Planned For Prudential Center
Technically, it is, right? Their loading dock extends under where the building will go.
Literalism. Isn't it hilarious?
Technically, it is, right? Their loading dock extends under where the building will go.
Literalism. Isn't it hilarious?
Re: New Tower(s) Planned For Prudential Center
Apartment building ready to rise
Avalon Exeter owner says the time is right
By Ted Siefer
Globe Correspondent / November 13, 2010
If all goes according to plan ? a rare occurrence in Back Bay construction recently ? crews will begin work on a 28-story residential tower whose owners have waited more than two years for the right time to build.
AvalonBay Communities said it will start construction early next year on Avalon Exeter, a slender glass and steel building on the edge of the Prudential complex. After sitting on the project because of the recession, the company says the recent interest in the apartment market justifies moving forward now.
?We feel pretty good that the economy has stabilized, and we think the timing is good to get a building like this under construction,?? said Michael Roberts, vice president of development at AvalonBay, which develops and owns apartment buildings across the country, including many in Massachusetts.
Located at the Huntington Avenue end of Exeter, the building will offer apartments ranging in size from stu dios to three-bedroom units, with rents ranging from $2,000 to $8,000 for penthouses. Residents will have access to a fitness center and club room, and AvalonBay will use spaces in the Prudential Center garage for resident parking, under an agreement with Boston Properties, which owns that complex.
Elsewhere in downtown Boston a handful of other long-stalled projects, reconfigured to include apartments, are also edging forward, including the 200-unit Dainty Dot building in Chinatown and the 234-unit Waterfront Place in South Boston. City officials said they are also fielding proposals for new buildings.
With the condo market stalled because of wary buyers or tighter mortgage conditions, apartments have become the one hot spot in real estate markets. Rents are up, vacancy rates are down, and lenders are far more willing to underwrite new apartments than other residential or commercial buildings.
?That?s the reality of the market,?? said John Palmieri, director of the Boston Redevelopment Authority. ?People still want to live close to work, to cultural and historic amenities. We have our economic sectors, our research and academic employee base, that are still doing well. Demand has continued to support residential rentals, and developers are better able to secure lending and debt.??
It also helps that AvalonBay, a real estate investment trust, is able to finance the project itself.
Others cautioned against getting too optimistic about the broader real estate market. David Begelfer, executive vice president of the Massachusetts chapter of NAIOP, a commercial real estate development association, said the Exeter project benefits from a ?premier?? location.
?For commercial buildings, it?s still a case-by-case basis. Most development is still pretty much on hold, unless the building has a specific use,?? he said, such as the new office tower Liberty Mutual is building on Berkeley Street.
Underscoring that point, another building proposed and approved for the Prudential Center, the 888 Boylston office building, is still on hold. It was permitted by the city at the same time as AvalonBay?s apartment tower, and the two projects were supposed to mark the final construction phase at the Prudential complex.
Boston Properties is the developer of 888 Boylston, a 17-story tower that would host offices on the upper floors and retail space on the lower. Part of that project includes buffing up the plaza in front, adding more open space, and additional lighting, plantings, and seating.
The company said it has no immediate plans to start the project and is not planning to switch from office use.
Elsewhere in the city, Boston Properties is finishing Atlantic Wharf, a 32-story office and residential tower at the corner of Congress Street, between the Fort Point Channel and the Rose Fitzgerald Kennedy Greenway.
But Begelfer said that given how moribund construction has been in the downtown area in recent years, the interest in rental buildings is a welcome and striking shift.
?I think the market is ripe for it,?? he said. ?I would not be surprised if there ends up being competition for who gets in the ground first. Otherwise, the market could get saturated.??
http://www.boston.com/business/articles/2010/11/13/builder_says_time_is_right_for_boston_apartments/
Apartment building ready to rise
Avalon Exeter owner says the time is right
By Ted Siefer
Globe Correspondent / November 13, 2010
If all goes according to plan ? a rare occurrence in Back Bay construction recently ? crews will begin work on a 28-story residential tower whose owners have waited more than two years for the right time to build.
AvalonBay Communities said it will start construction early next year on Avalon Exeter, a slender glass and steel building on the edge of the Prudential complex. After sitting on the project because of the recession, the company says the recent interest in the apartment market justifies moving forward now.
?We feel pretty good that the economy has stabilized, and we think the timing is good to get a building like this under construction,?? said Michael Roberts, vice president of development at AvalonBay, which develops and owns apartment buildings across the country, including many in Massachusetts.
Located at the Huntington Avenue end of Exeter, the building will offer apartments ranging in size from stu dios to three-bedroom units, with rents ranging from $2,000 to $8,000 for penthouses. Residents will have access to a fitness center and club room, and AvalonBay will use spaces in the Prudential Center garage for resident parking, under an agreement with Boston Properties, which owns that complex.
Elsewhere in downtown Boston a handful of other long-stalled projects, reconfigured to include apartments, are also edging forward, including the 200-unit Dainty Dot building in Chinatown and the 234-unit Waterfront Place in South Boston. City officials said they are also fielding proposals for new buildings.
With the condo market stalled because of wary buyers or tighter mortgage conditions, apartments have become the one hot spot in real estate markets. Rents are up, vacancy rates are down, and lenders are far more willing to underwrite new apartments than other residential or commercial buildings.
?That?s the reality of the market,?? said John Palmieri, director of the Boston Redevelopment Authority. ?People still want to live close to work, to cultural and historic amenities. We have our economic sectors, our research and academic employee base, that are still doing well. Demand has continued to support residential rentals, and developers are better able to secure lending and debt.??
It also helps that AvalonBay, a real estate investment trust, is able to finance the project itself.
Others cautioned against getting too optimistic about the broader real estate market. David Begelfer, executive vice president of the Massachusetts chapter of NAIOP, a commercial real estate development association, said the Exeter project benefits from a ?premier?? location.
?For commercial buildings, it?s still a case-by-case basis. Most development is still pretty much on hold, unless the building has a specific use,?? he said, such as the new office tower Liberty Mutual is building on Berkeley Street.
Underscoring that point, another building proposed and approved for the Prudential Center, the 888 Boylston office building, is still on hold. It was permitted by the city at the same time as AvalonBay?s apartment tower, and the two projects were supposed to mark the final construction phase at the Prudential complex.
Boston Properties is the developer of 888 Boylston, a 17-story tower that would host offices on the upper floors and retail space on the lower. Part of that project includes buffing up the plaza in front, adding more open space, and additional lighting, plantings, and seating.
The company said it has no immediate plans to start the project and is not planning to switch from office use.
Elsewhere in the city, Boston Properties is finishing Atlantic Wharf, a 32-story office and residential tower at the corner of Congress Street, between the Fort Point Channel and the Rose Fitzgerald Kennedy Greenway.
But Begelfer said that given how moribund construction has been in the downtown area in recent years, the interest in rental buildings is a welcome and striking shift.
?I think the market is ripe for it,?? he said. ?I would not be surprised if there ends up being competition for who gets in the ground first. Otherwise, the market could get saturated.??
http://www.boston.com/business/articles/2010/11/13/builder_says_time_is_right_for_boston_apartments/
JohnAKeith
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Re: New Tower(s) Planned For Prudential Center
Not much new in my weekly Patch column but as good a time as any to make digs at the naysayers.
Click through for some of the renderings released a couple years ago.
http://patch.com/A-cRvf
New Prudential Plaza Apartments: Great Project, Perfect Location
By John Keith
Not much new in my weekly Patch column but as good a time as any to make digs at the naysayers.
Click through for some of the renderings released a couple years ago.
http://patch.com/A-cRvf
New Prudential Plaza Apartments: Great Project, Perfect Location
By John Keith
TomOfBoston
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Re: New Tower(s) Planned For Prudential Center
Logic? We are talking about building in Boston! Logic has no place in the discussion. LOL!
Logic? We are talking about building in Boston! Logic has no place in the discussion. LOL!
B
bosma
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Re: New Tower(s) Planned For Prudential Center
Same here, well written article.
I would rather have seen a more slender tower with more of a setback from the streets and another 5-10 stories, but its Boston, home of the 29 story "skyscrapers".
Same here, well written article.
I would rather have seen a more slender tower with more of a setback from the streets and another 5-10 stories, but its Boston, home of the 29 story "skyscrapers".
Re: New Tower(s) Planned For Prudential Center
Construction starts today apparently...
http://www.boston.com/business/articles/2011/09/23/work_on_28_story_back_bay_tower_to_get_underway/
Construction starts today apparently...
http://www.boston.com/business/articles/2011/09/23/work_on_28_story_back_bay_tower_to_get_underway/
Re: New Tower(s) Planned For Prudential Center
These renderings do not conform to reality unless L&T is being cut into.L&T looks like it's here to stay for now.
888 could be taller/thinner and turned sideways to presevre the view,something of a cross between 111 Hunington and 150 federal st would be cool!
Re: New Tower(s) Planned For Prudential Center
Dirty secret: "construction" may have started today, but they've been working for at least 2 months in the alley between Lord & Taylor and Lenox, back in a service area under the plaza. You can see the doors from Boylston if you look up the alley where 2nd and 3rd shift workers have been doing their thing.
Dirty secret: "construction" may have started today, but they've been working for at least 2 months in the alley between Lord & Taylor and Lenox, back in a service area under the plaza. You can see the doors from Boylston if you look up the alley where 2nd and 3rd shift workers have been doing their thing.
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Re: New Tower(s) Planned For Prudential Center
For some reason, the Metro just decided to announce last month's groundbreaking for the Avalon Exeter in the paper today:
http://www.metro.us/boston/life/article/1000568--avalon-exeter-groundbreaking-residences
Also: in 12345's article above: "slender glass and steel tower" wtf???
Also: Justin is correct. The rendering shows Avalon Exeter occupying some of the existing Lord & Taylor.
That rendering is looking down Blagden St. out to Exeter St:
The other rendering shows the same thing. Everything in the press says "near L&T" or "by L&T," but nothing mentions this building sitting on the L&T loading dock!!
For some reason, the Metro just decided to announce last month's groundbreaking for the Avalon Exeter in the paper today:
http://www.metro.us/boston/life/article/1000568--avalon-exeter-groundbreaking-residences
Also: in 12345's article above: "slender glass and steel tower" wtf???
Also: Justin is correct. The rendering shows Avalon Exeter occupying some of the existing Lord & Taylor.
That rendering is looking down Blagden St. out to Exeter St:
The other rendering shows the same thing. Everything in the press says "near L&T" or "by L&T," but nothing mentions this building sitting on the L&T loading dock!!
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Re: New Tower(s) Planned For Prudential Center
Ah that tree in the rendering is very clever. It is hiding the L&T loading dock that will remain.
Ah that tree in the rendering is very clever. It is hiding the L&T loading dock that will remain.
Re: New Tower(s) Planned For Prudential Center
What tree? The L&T dock is north of the Exeter (just south of the Lenox).
EDIT: Corrected my directional references, which I had upside down due to being drunk on PBR after an office party.
What tree? The L&T dock is north of the Exeter (just south of the Lenox).
EDIT: Corrected my directional references, which I had upside down due to being drunk on PBR after an office party.
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Re: New Tower(s) Planned For Prudential Center
Here is that exact perspective in real life:
http://maps.google.com/maps?q=Blagd...KavAmQESLgpI7QlFqb3Dg&cbp=12,273.61,,0,-14.04
Notice on the site plan above, the LD is tucked away. I do realize that the tree isn't *actually* hiding it (the Exeter being pushed out to the street is), but the tree helps to disorient you and block that setback.
This tree
Here is that exact perspective in real life:
http://maps.google.com/maps?q=Blagd...KavAmQESLgpI7QlFqb3Dg&cbp=12,273.61,,0,-14.04
Notice on the site plan above, the LD is tucked away. I do realize that the tree isn't *actually* hiding it (the Exeter being pushed out to the street is), but the tree helps to disorient you and block that setback.
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Re: New Tower(s) Planned For Prudential Center
Ah. That tree. It used to exist around 11 years ago. And then BPL ran out of money to water their property, and it died, and it was removed. It did at one point exist though.
This tree
Here is that exact perspective in real life:
http://maps.google.com/maps?q=Blagd...KavAmQESLgpI7QlFqb3Dg&cbp=12,273.61,,0,-14.04
Notice on the site plan above, the LD is tucked away. I do realize that the tree isn't *actually* hiding it (the Exeter being pushed out to the street is), but the tree helps to disorient you and block that setback.
Ah. That tree. It used to exist around 11 years ago. And then BPL ran out of money to water their property, and it died, and it was removed. It did at one point exist though.
Shepard
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Re: New Tower(s) Planned For Prudential Center
Sorry, no update, just a geeky observation. Now that Google shows boundaries on zip codes (side note: not all zips are geographically bound or contiguous, so not sure how this always works - in any case...) I see 02199 is the zip code only for the Prudential Center. Pretty interesting. I heard once that the Twin Towers had their own zip code also, which I always thought was quite cool.
Sorry, no update, just a geeky observation. Now that Google shows boundaries on zip codes (side note: not all zips are geographically bound or contiguous, so not sure how this always works - in any case...) I see 02199 is the zip code only for the Prudential Center. Pretty interesting. I heard once that the Twin Towers had their own zip code also, which I always thought was quite cool.
whighlander
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Re: New Tower(s) Planned For Prudential Center
Shep -- you had me rev-ed for something on the project LOL :=}
Well to keep the rest of the forum in suspense -- I can do one better -- there is an old 'Commie 70's era" apartment complex in Gdansk Poland that is so-big that it not only has its own Postal Code -- it has 3 Trolley Stops (one end, middle, other end)
Shep -- you had me rev-ed for something on the project LOL :=}
Well to keep the rest of the forum in suspense -- I can do one better -- there is an old 'Commie 70's era" apartment complex in Gdansk Poland that is so-big that it not only has its own Postal Code -- it has 3 Trolley Stops (one end, middle, other end)