Echelon Seaport | 133-135 Seaport Blvd | Seaport

Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

Globe article ...


http://www.bostonglobe.com/business...-move-ahead/eqAtcO7vrvh5Vuy6dr6xgL/story.html


The Boston Civic Design Commission gave its approval to the plans for three 22-story condo and apartment towers and retail along Seaport Boulevard. It’s the final city approval needed for the $700 million project, said Nick Martin, a spokesman for the Boston Redevelopment Authority.

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This is the latest phase of the 22-acre Seaport Square master plan, which is being spearheaded by development firm Boston Global Investors. BGI managing partner John Hynes did not immediately respond to messages on when work on the buildings would begin. But in a recent e-mail Hynes said his group had lined up financing.

“We’re funded and moving ahead as planned,” Hynes said.
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Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

Suffolk 83 said:
What's the brick building next it in the picture harbor square podium?
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parcel L4

Seaport-Square-B1-651x516.jpg


Seaport%20Square%20Parcels%20M1-M2%20Boston%201.jpg
 
Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

In the rendering looking west from harbor square podium you can see what appears to be 121 Seaport Boulevard (L2) in the top right corner.
 
Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

Hynes gave an interview to the BBJ in which he said this re: the new buildings on these parcels,

At the end of the day, unfortunately, these buildings are very expensive to build, and you’ve got to clear $1,000 a foot across the board to make these new projects work.
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The $1,000 a square foot is the cost to the developer, before putting a unit out for sale or rent. How true is Hynes' assertion? The number seems high to me, but given he didn't reveal how much soft costs, particularly soft costs related to these sites, contribute to the $1,000 sq ft assertion, it's hard to determine, one way or the other.
 
Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

First you gotta figure in the cost of the land and I'm sure the cost was pretty steep. Thus the reason that no quaint, Back Bay type townhouses, Danish knockoff type housing, Fort Point or North End type buildings, etc. could ever be built in the Seaport. The price of the land basically sets the price of the buildings and, in the case of the Seaport, the land ain't gonna be cheap.
 
Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

Can't say whether or not $1,000 / SF is necessary without figuring out the cost of the land, which is hard to do since it was part of a larger land purchase, right? Plus, carrying costs, etc.

Plus,

The beginning of the BBJ interview:

He's back: John Hynes on the $700M next phase for Seaport Square
By Catherine Carlock, Boston Business Journal

After a lengthy design-review process, the next phase of Boston Global Investors’ 6.3 million-square-foot Seaport Square project got a nod of approval this week from the Boston Civic Design Commission, a public-forum division within the Boston Redevelopment Authority.

The $700 million phase aims to build three residential towers spanning 1.1 million square feet on parcels M1 and M2, which are located off Seaport Boulevard, Congress Street and what’s now known as Pier Four Boulevard (formerly East Service Road). The entire Seaport Square area spans 23 acres and is a joint development between BGI, Morgan Stanley and WS Development.

The residential towers would include 750 units — 400 for-sale condos and 350 rental units — with two below-ground parking garages and two levels of retail totaling 125,000 square feet. The project was designed by Kohn Pedersen Fox Associates PC of New York and Boston-based CBT Architects ...
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Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

Regent docks in Seaport Sq.
Group joins Cottonwood plan
Donna Goodison Thursday, February 18, 2016

Taiwan’s Regent Hotels & Resorts is joining Cottonwood Management’s proposed mixed-use development in Boston’s Seaport District, with plans for a hotel along with Regent-branded condos and Regent-serviced apartments.

The Taipei-based luxury hospitality brand signed a deal to be part of Cottonwood’s $750-million-plus Seaport Square project that will include three towers with 900,000 square feet of residential space and 125,000 square feet of retail space anchored* by a central courtyard on parcels M1 and M2. The project, planned for a 3.5-acre parking lot on Seaport Boulevard, is under review by the Boston Redevelopment Authority.

Regent also will debut its new Dining Club concept, a social club with fine dining for the project’s residents and hotel guests.
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continued ... http://www.bostonherald.com/business/real_estate/2016/02/regent_docks_in_seaport_sq
 
Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

Hmmm, so is John Hynes no longer part of this project and if so, will the new developers/owners/investors be required to stick to the original project designs as approved by the Boston Civic Design Commission (BCDC) ?
 
Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

atlantaden said:
Hmmm, so is John Hynes no longer part of this project and if so, will the new developers/owners/investors be required to stick to the original project designs as approved by the Boston Civic Design Commission (BCDC) ?
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I'm fairly certain that those designs were produced and proposed by Cottonwood. Hynes sold the site without anything more than approved massing.
 
Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

The article also said construction is supposed to start this fall which is the first I've heard about this delay. Out of all the projects going on in seaport, I am most excited about this one. It will allow to continuous streetwall on summer Street, looks great (not just seaport great), and fill in some of the deadest 3.5 acres in Boston.

Is there a time frame for bra approval? I highly doubt this will have a hard time going through it but you never know.
 
Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

The developer is playing us.

From the Herald:

"A Regent spokesperson yesterday told the Herald the development would include a hotel. She clarified today that it will include short- and long-term-stay apartments, but no hotel."

Park Lane Seaport rents out some of its apartments as "extended stay" ... I think these guys are going to do the same thing ... they don't see the demand for condos & apartments down there.

Also, it was earlier mentioned that Hynes was holding on to 5% of ownership; I assume that's still true.
 
Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

As much as I wish that M was under construction, the pictures above are the seaport square parcels B-C and do not belong under this thread
 
Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

I cant keep track what's what anymore!
 
Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

seaport-square-parcels-m1-m2-cottonwood-celona-regent-1.jpg


Public meeting held at District Hall last night. The developers tentative schedule looks to be as followed:

"File for building permits for M1 and M2 over summer 2016. Foundation work is anticipated to commence in October 2016 with construction of slurry walls. Foundation excavations and site work would be completed by September 2017. Ground floors of M1 and M2 would be completed by February 2018, with full project completion by August 2019."​

Check out the following page for more details regarding last night's meeting! http://www.bldup.com/projects/seaport-parcels-m1-m2
 
Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

The proponent asked the BRA/EDIC to table the hearing for M1/M2 scheduled for tonight until next month's BRA Board meeting. The motion to table was approved & the hearing will be moved to May 12.

6:10 p.m.: Request authorization to approve the Sixth Amendment to the Development Plan for Planned Development Area No. 78 for the Seaport Square Block M Project, South Boston for design changes to the buildings massing the project consists of 735 residences with 23 on-site and 83 off-site IDP units; 125,000 square feet of retail/commercial space and 560 garaged parking spaces; and, to take all related actions.
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Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

Thanks for the update! Wonder why.
 
Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

APPROVED
 
Re: Seaport Parcels M1-M2 | Seaport Sq. | Seaport

Great news, the Seaport is going to be a much better place when this is built.
 
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