Canvas - Mixed Use Tower (old Felt location) | 533 Washington St | Downtown Crossing

I know we bash renders around here all the time, but this one is rich. Where is the hulking Tremont On the Common that would be prominently behind this building from the view from the rendering? It will be hard to spot this building from most places in the area. You certainly won't see it from the Common.....
 
This looks fantastic. I'd love to see more towers of this quality rise. I'm curious how this'll affect the proposed 350' tower on Tremont@Avery (if at all).
 
Another notable pull quote from the Globe article:

Rafi Properties said Canvas would not include any off-street parking spaces, but noted the project is within walking distance of several major subway lines and transit hubs. Insufficient parking is frequently a source of conflict between neighbors and developers, but it’s not yet clear whether nearby residents will like the tower proposal.
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And can we all agree that "Co-working spaces" and the like are the new farmer's market?
 
The Watermark with balconies. Complete with bottle opener feature on top.
 
It's good enough for what it is. Just solid reclamation-infill. Feels like it a small-time project in NYC or Vancouver circa 2007.
 
Not loving the height. Another ~300 ft tower in that area? Can we get some varying height besides the Millennium Tower?
 
Something is seriously wrong with that render... do I see snow piles on one side of Tremont and trees in full bloom along The Common?
 
From a BBJ article

533-washington-st.png


http://www.bizjournals.com/boston/r...y-residential-tower-proposed-in-downtown.html
 
Re: Mixed Use Tower (former Felt location) | 533 Washington St | Downtown Crossing

SeamusMcFly said:
If I remember correctly, the façade is worth keeping too.
So, win/win? Sounds like it.
ADD Inc. seems to have some juice left after the acquisition. Hopefully, they do this right.
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Definitely worth keeping:

https://www.google.com/maps/@42.353...QCdzA7-WSFQGS01daHpQ!2e0!7i13312!8i6656?hl=en

This looks fantastic -- the tower will nicely compliment the various Millennium Partners' buildings nearby, and maintaining the existing street wall will be key to the character of this section of Washington St.
 
Sorry guys, but I really don't see this thing getting built. This "developer" is "a 25-year-old Boston University graduate with little development experience" spending his family and friends' money. [Globe]

Boston Globe said:
The builder is Collin Yip, who has a degree in business administration from Boston University and has renovated several small buildings in the North End and Cambridge. The building proposed for Washington Street would be by far his largest undertaking...
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Boston Globe said:
Rafi Properties is little-known in Boston. The company has developed a small residential project in the North End and owns several smaller buildings around Boston and Cambridge that contain residences or space for startup firms.
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Boston Globe said:
A spokeswoman for Rafi Properties said the project would be financed by several individual overseas investors, including some members of Yip’s family. She said the company is still working on construction details and does not have an estimated cost of the building yet.

The company does have a major contractor for the proposal.
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His largest (and really, only) project so far is "The Chrysanthemum" at 126 Salem St, a 9-unit wood framed building in the North End. I remember seeing renders (they look good!) of this when it was proposed, but I haven't been by lately and don't know what it looks like now. I might take a walk over there this afternoon...

I wish the kid the best of luck, but building a tower like this in Boston is hard. I doubt he has the experience (yet) to get it done.
 
Boston02124 said:
they both look alike>
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The 350' proposal is supposedly 31 stories if I remember correctly. This building in the render is only about 20. It is very clearly not 350', by a lot. (maybe 250' at best) Don't put any stock into this inaccurate render. Nothing to worry about for the moment.
 
JumboBuc said:
Sorry guys, but I really don't see this thing getting built. This "developer" is "a 25-year-old Boston University graduate with little development experience" spending his family and friends' money. [Globe]







His largest (and really, only) project so far is "The Chrysanthemum" at 126 Salem St, a 9-unit wood framed building in the North End. I remember seeing renders (they look good!) of this when it was proposed, but I haven't been by lately and don't know what it looks like now. I might take a walk over there this afternoon...

I wish the kid the best of luck, but building a tower like this in Boston is hard. I doubt he has the experience (yet) to get it done.
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You may be right, but he did manage to buy the site/building for $7 million and Stantec certainly adds legitimacy. There's no telling what kind of money his oversees friends/family/investors have access to.
 
Judging by the progress on the salem st building which sat for god knows how many months with no activity you may be right Jumbo
 
No, Statler, I am! Just questioning the developer's experience and wondering about his financial backing. And, more importantly, does he have the knowledge (and patience) to go through the process from proposal to approval to development?

I'm curious about air rights of his neighbors - it rubs up against the Opera House on one side, although there are alleys to the right and behind - do they have any right to request set-backs? (Isn't this why 45 Province is completely blank on one side?) The Globe article mentions the Opera House landlord raising some concerns.

Also, shadows on the Common. Few of us think these types of complains are worthy, but regulations exist. Other developers have built in clever ways to limit the shadows, but this tower seems more "central" so I'm wondering if it's more at risk of running afoul of the rules.

Otherwise, 100% on board! And, yes, wouldn't it be great to get some towers across the street at Lafayette Place?
 
Because I love having multiple comments in a row, one other thing.

IF it's true that this gentleman's funding comes from overseas sources, then that's an interesting development. Few other Boston projects I can think of were known to have raised money in this manner. I assume multi-billion dollar companies such as Millennium and Related borrow, both domestic and international money, but I also seem to remember reading that several companies fund the majority of their work with their own money.

If we're seeing more "outside" money, that could open a whole 'nother funding source for new development in the city, and that could be exciting.

(*We're seeing "NY" money, too, right? Even though Vornado bailed on Filene's, Tischman Speyer bought at Pier 4, and of course, Extell was here a decade ago at 500 Atlantic, although we've seen nothing since.)
 
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