Kemeny tapped for residential work at Seaport Square
Boston Business Journal
By Michelle Hillman
Friday, August 8, 2008
John B. Hynes III has brought on another partner to help him build Seaport Square, the massive project he has planned in South Boston.
It hasn?t been formally announced, but Boston Residential Group led by Curtis Kemeny has emerged as a partner with Gale International and Morgan Stanley Real Estate for the first high-end residential building. The building is located on what is being called ?Site A? and is currently undergoing design review with the Boston Civic Design Commission.
The six-story, 110,000-square-foot building will sit behind the Barking Crab restaurant and contain approximately 35 units, two floors of retail space and more than 30 parking spaces, said Kemeny. It is being designed by Boston-based Hacin + Associates Inc. and will be built by Boston-based Walsh Brothers.
Kemeny wanted to move the Barking Crab from its current location in order to complete the Boston Harborwalk. The Barking Crab turned down Kemeny?s offer to move and will stay in its current location. Gale?s partner for all of the retail space at Seaport Square is W/S Development.
Kemeny will design the site around the Barking Crab and plans to create a pedestrian plaza in the place of a parking lot, trash and loading area that sit adjacent to the restaurant. Kemeny wasn?t sure where the trash and loading area would be relocated but said he?s in discussion with the restaurant.
Kemeny believes the site is the ?gateway? to the Seaport Square development. Seaport Square is a collection of 30 acres in South Boston that will be transformed into 20 blocks of retail, residential, hotel, commercial and civic and public space. A small slice of the site is located near the Boston Harbor, adjacent to the Moakley Federal Courthouse and the 21-acre waterfront development, Fan Pier.
?It is a waterfront property,? said Kemeny. ?It?s a spectacular residential condo site.?
Kemeny, who is known for redeveloping the former Tower Records building into a luxury 54-unit condominium building at 360 Newbury St., is also the developer of the 63-unit condo project at 285 Columbus Ave. The Newbury Street building has long been sold out, and there are 12 units left for sale at the South End project, which went on the market in February. Kemeny?s financial partner at 360 Newbury was Morgan Stanley.
Despite a soured residential market, Kemeny believes condominiums are the way to go.
?This is a project that will be in permitting for probably another year, which means we?d construct it in 2009 and be coming to market in 2010,? he said.
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