Avalon North Station | Nashua Street Residences | West End

[Bubbybu]

Re: Nashua Street Residences (North Station)

Yea it's definetely ill-placed...I think it could be nice if it were part of an entire complex of Knife Buildings but in th emiddle of Manhattan it looks sort of flimsy and awkward

45 Prov is nicer imo

 

[Mike]

Re: Nashua Street Residences (North Station)

TD Garden owners’ new game: Sell rights to build tower
By Greg Turner
Thursday, August 23, 2012

Call it “home” court advantage for the owners of the TD Garden.

Delaware North Cos. will soon see its long-planned residential tower get into the real estate game, after the company passed off development rights to apartment builder AvalonBay and scored air rights over the Nashua Street garage entrance from the MBTA.

“We have a purchase and sale agreement with AvalonBay,” Chris Maher, Delaware North’s vice president of development, confirmed yesterday. “They’re top-notch. We’re very happy with the affiliation.”

Delaware North will now watch from the sidelines as AvalonBay returns to the Boston Redevelopment Authority with a revised version of the 375-unit “Nashua Street Residences” plan approved in 2005. A fresh filing is expected within days, according to the BRA.

“We’re very much looking forward to it,” said Bob O’Brien, head of the Downtown North Association. “We’ve been waiting for the marketing and financing stars to align properly.”

AvalonBay’s development chief in Boston, Michael Roberts, could not be reached yesterday.

Delaware North secured air rights for the project in June as part of its deal to lease the five-level parking North Station Garage under the Garden from the MBTA. The firm paid $50 million up front and, starting a decade from now, will pay about $2.3 million a year, according to Massachusetts Department of Transportation records.

“We intended to do a condominium building as the developer with a partner, but obviously the downturn put that on hold,” Maher said. “With the apartment market coming back stronger, we saw an opportunity for an apartment developer to take over.”

Meanwhile, Delaware North, teaming with Boston Properties, is planning a separate tower project with shops, restaurants, residences and offices on the site of the old Garden along Causeway Street.


Link

 

[choo]

Re: Nashua Street Residences (North Station)

So this is on the backside of north station where you enter the garage, correct?

Plus you then have to two towers on the front part of north station along causeway street, and equity residential's towers on the garage with the basketball city on top.

2 years from now we could have a good collection of cranes surrounding the garden!

 

[AmericanFolkLegend]

Re: Nashua Street Residences (North Station)

I wonder if this is why Avalon pulled out of the Seaport.

 

[Suffolk 83]

Re: Nashua Street Residences (North Station)

Whats the FAA height limit over there?

 

[type001]

Re: Nashua Street Residences (North Station)

...AvalonBay returns to the Boston Redevelopment Authority with a revised version of the 375-unit “Nashua Street Residences” plan approved in 2005.

Um, what? Please tell me they're not going to turn this into a stub. The 2005 version was pretty decent.

 

[jdrinboston]

Re: Nashua Street Residences (North Station)

I feel the need to ask a dumb question....how much money does AvalonBay have? Could they really have the Exeter, 45 Stuart, Assembly Row, and Nashaua Street under construction all at the same time??

Do they self-finance or are there really that many banks lining up to finance their projects?

 

[TheRifleman]

Re: Nashua Street Residences (North Station)

Kenmore Square (RIP)= North Station (RIP)

 

[underground]

Re: Nashua Street Residences (North Station)

Kenmore Square (RIP)= North Station (RIP)

Kenmore Square's redevelopment had issues, but North Station and the Triangle area are laughably underutilized considering the location. Putting the highway and Green Line underground, adding thousands of new residents, adding new retail, and opening up Causway Street are/were great projects and just about as far from "RIP" as possible.

 

[TheRifleman]

Re: Nashua Street Residences (North Station)

Kenmore Square's redevelopment had issues, but North Station and the Triangle area are laughably underutilized considering the location. Putting the highway and Green Line underground, adding thousands of new residents, adding new retail, and opening up Causway Street are/were great projects and just about as far from "RIP" as possible.

I miss the old element of North Station. The Elevated Greenline rain or shine it was always dripping, walking towards the old Garden. The mom & pa food joints, sausge carts, scalpers, local bars. The only aspect which would bring white & blue collars together were watching the Bruins or Celtics back in the day.

I like the new garden but the entire frontage of North Station to the Garden is awful. NO CHARACTER. (besides a Monster corporate CVS at a prime spot to ruin the area)


I hope your right but I feel like we might get back-doored with a Kenmore situation in this area.

 

[Max Power]

Re: Nashua Street Residences (North Station)

Kenmore Square's redevelopment had issues, but North Station and the Triangle area are laughably underutilized considering the location. Putting the highway and Green Line underground, adding thousands of new residents, adding new retail, and opening up Causway Street are/were great projects and just about as far from "RIP" as possible.

Yeah but I think Riff is getting at the "character" that used to permeate the area, like it used to in Kenmore.




You know, uniqueness, sense of place. Something difficult to achieve with Archstone this, Avalon that, the Millenium city. Can't really find it within the urban core these days.



But arguing about that is diving down a rathole. Times are different. You're completely right, this area is heinously underdeveloped for being where it is. This will help.

 

[AmericanFolkLegend]

Re: Nashua Street Residences (North Station)

I feel the need to ask a dumb question....how much money does AvalonBay have? Could they really have the Exeter, 45 Stuart, Assembly Row, and Nashaua Street under construction all at the same time??

Do they self-finance or are there really that many banks lining up to finance their projects?

They're a nationwide REIT with $14B in market cap carried in the S&P 500 , so yeah, a couple towers are not a big dent in the piggy bank. Though interestingly they've only recently got in to high-rise development from the Boston office (Exeter is their first tower on the East Coast I believe). In the past they had done mostly suburban garden-style apartments.

They'll go for construction debt if they can find it cheap, but each deal that gets approved by their investment committee needs to be able to stand on it's own if self-financed.

 

[ngb_anim8]

Re: Nashua Street Residences (North Station)

Meanwhile, Delaware North, teaming with Boston Properties, is planning a separate tower project with shops, restaurants, residences and offices on the site of the old Garden along Causeway Street.

And what's the status of that? Rifelman is right - Development in front of the Garden is long overdue. The Garden has been up since '95 and plans/drawings have existed for even longer. Why is DN dragging their feet?

 

[TheRifleman]

Re: Nashua Street Residences (North Station)

Why is DN dragging their feet?

Delaware North Owners are a bunch of Scumbags. Practically got the development free, never built on it and is looking for more taxpayer freebies.
(maybe one of our more Savvy real estate gurus could clarify the parcel they own?)

Delaware North is the cheapest company on record. I remember an ex-employee told me that they cut health insurance and made their employees pay almost 100%. Not sure if that is true but sure sounds like the Jacob brothers style.

 

[ngb_anim8]

Re: Nashua Street Residences (North Station)

Jerk-offs

 

[Beton Brut]

Re: Nashua Street Residences (North Station)

Whats the FAA height limit over there?

The area around the Garden isn't in the path of any runway at Logan. The only aircraft that traverse this area are medivac choppers heading to MGH, or the Coast Guard. So far as I can tell, the Causeway Street side of the Garden could host at least one supertall. Any height limit here would be determined by economic forces and community opposition to height and density.

 

[choo]

Re: Nashua Street Residences (North Station)

I believe the lot is already zoned for 400ft. I saw a presentation from Shen and the BRA a few months back at the BSA that showed what is like a second 'high spine' from north station and capping at the winthrop sq 1000ft. The gov't center garage would be an intermediate 600ft step. I think it would be cool to see a some towers here go 600+. I don't think we will get that tho.

 

[Semass]

Re: Nashua Street Residences (North Station)

I imagine that the feds will want a lot of concessions from the Nashua Street project being in such close proximity to the Tip O'Neil building. Federal Buildings are not known for having close neighbors.

 

[type001]

Re: Nashua Street Residences (North Station)

From Page 1:

The original NS was supposed to be 414 ft. It will still have the same # units, so it's probably going to still be in that ball park. The other 2 buildings would have been taller. The tallest one has to be at least 550 ft. Wouldn't the same zoning still apply now?

 

[davem]

Re: Nashua Street Residences (North Station)

*sigh*