Pre-construction work has begun for Seaport Square’s M1M2 residential component, which is slated to include three towers housing a combined 735 condos and apartments. Cottonwood Management Group has started initial site work on the 3.5-acre site in Seaport Square set to feature the three towers.
Two of the three towers will contain condos. At least 455 of the total 735 units will be condos, Tom Acitelli reports for Curbed.
In addition to residential units, M1M2 will have 125,000 square feet of retail and restaurant space as well as a public courtyard. The project site is next to Cottonwood’s East Coast offices located at 101 Seaport Boulevard. The tower, rising 17 stories, was completed in 2015 and was the first office tower in Seaport Square.
Construction of M1M2 is slated to be completed by early 2020. An official groundbreaking ceremony is planned for May, following the completion of pre-construction work.
204 Spencer Avenue in Chelsea, a building dating back to the mid-1880s, was once the site of a Baptist church for close to a century. This year, Roback Real Estate and Jems Financial converted the building — which was vacant until that point — into 10 luxury loft-style condos, ranging from studios to 3-bedroom units.
Called the Thomas Martin Lofts (named after the building’s original builder), Tom Acitelli writes for Curbedthat the condos — priced at $325,000 to $525,000 — are a steal relative to downtown Boston condo prices, and demonstrate how Chelsea increasingly is offering a viable option for buyers who may be priced out of Boston proper. The condos are currently on sale through Jeff Bowen. New development in Chelsea, coupled with the Silver Line extension into the city, may continue to help boost the neighborhood as a “genuine alternative” to Boston, according to Acitelli.
Below have a look at some photos of the Thomas Martin Lofts:
On March 2, the Boston Planning and Development Agency approved the rezoning of 42 acres of the Boston Waterfront. However, somewhat lost in those plans was a proposal submitted by the New England Aquarium to create a “Blueway,” reports Tom Acitelli for Curbed. The Blueway would span 1,000 feet from the Rose Kennedy Greenway to the edge of the water.
The Aquarium’s proposal is related to larger plans for the redevelopment of the Boston Harbor Garage as well as to the institution’s desire to expand its size over the next decade, reports Jon Chesto of the Boston Globe, which covers the proposal in detail. By agreeing to the redevelopment of the garage — which may entail a new 600-foot tower — the Aquarium has sought to build support for the Blueway. The Aquarium first put forth this proposal with the City of Boston and the Chiofaro Co., which is the Harbor Garage’s owner, in September 2016. Now, with the Boston Planning and Development Agency’s recent approval, the project looks that much more likely.
Condominium sales for the Lovejoy Wharf building on the Waterfront are set to begin this April. Occupancy is slated for the summer of 2017. The building has 15 stories and contains 157 condominium units, and also has ground-floor retail space, which will include a Waterfront restaurant. In addition, the developer plans to build a Waterfront park. Residences include studios-3 bedrooms, and pricing is expected to range from $750,000 to over $3,000,000. The Lovejoy Wharf condos are being developed by Related Beal and designed by Robert A.M. Stern Architects. The development is located at 131 Beverly Street in the Bulfinch Triangle neighborhood of downtown Boston.
Lovejoy Wharf Condos Feature Unobstructed Views of the Harbor, Downtown, the Charles River, Cambridge and Other Landmarks
Amenities will include a 24-hour concierge, a fitness center, a resident lounge, a wharfside health club, a 12th-floor terrace with sweeping views of the water, a library lounge, a billiards room, a business center and a children’s room. Some of the residences will have private outdoor terraces, and penthouse units will feature floor-to-ceiling windows. State-of-the-art finishes and amenities, including 34-bottle wine coolers by Gaggenau and Kaldewei deep-soaking tubs, will be found in all of the residences.
Furthermore, all of the common amenity spaces and residences will feature unobstructed views of the Boston Harbor, downtown Boston, Cambridge, the Charles River and other landmarks, according to Bldup.
Lovejoy Wharf Offers a Convenient Location
Lovejoy Wharf does not include on-site parking, however there are multiple transit options in the immediate area. The development is only a two-minute walk from North Station, which includes an MBTA subway, as well as an Amtrak terminal and an MBTA commuter train hub. Nearby Hubway bike sharing stations will offer residents further convenience, and the area is very bicycle friendly.
Additionally, residents will have access to the addition of the Harborwalk located along Lovejoy Wharf now open to the public. As Lovejoy Wharf is also home to the Converse headquarters, there is a Converse retail store located next to the Haborwalk. Lovejoy Wharf is easily accessible to the West End, Beacon Hill and the North End. Within short walking distance of the North End, residents will have access to more than 100 cafes, restaurants and shops.
Complimentary Buyer Representation for the Lovejoy Wharf Condominiums
Currently under review by the BRA, the proposed One Charlestown development involves the redevelopment of the existing Bunker Hill Apartments in Charlestown, a 13 block site that houses 1,100 affordable housing units built in 1941. The development team for One Charlestown, led by Corcoran-SunCal, proposes the demolition of the current affordable housing units and the building of 3,200 units of mixed-income housing. All of the 1,100 affordable housing units would be replaced. In addition, the proposal calls for 100,000 square feet of new retail/civic space, as well as off-street parking and new public open space. The retail space would be located on Bunker Hill Street.
The One Charlestown development would maintain the same number of affordable housing units, while adding 2,100 market-rate and workforce housing units. All of the new affordable units (1,100) would be built to the same design standards as the market-rate apartments, and would feature the same finishes. Market-rate and affordable units would also be in the same buildings.
One Charlestown Design Approach
The development proposal offers a range of public area improvements. One of the major goals of the development team is to create a “safe, walkable and inviting neighborhood” (per the One Charlestown website). The project would “create a new line of connection along Bunker Hill Street with active storefronts, landscaping, and a restored street grid” (per the One Charlestown website). Click here for an image of the restored street grid with improvements made in terms of connectivity, walkability and bicycle access (image from the One Charlestown website). The project would also knit together Charlestown’s rich historical legacy, dating back to the Revolutionary War period, by integrating some of these prominent historical events into the project’s landscape architecture and cultural programming.
In addition, One Charlestown would create new public gathering spaces, including two new neighborhood parks. One of these areas would be a public square on Monument Street, called “Bunker Hill Square,” that would reflect on Charlestown’s history. The other park would serve as a common gathering area for residents. Called the “Bunker Hill Commons,” the park would be located in the interior of the project site.
Construction Timeline and More Information
Per the BRA, “The Project will be constructed on a rolling basis in multiple phases over an approximately 10-year period.” For more information on the proposed One Charlestown development, please contact the Gollinger Team of Coldwell Banker.
Edison on First is a new construction mid-rise luxury condominium building located in South Boston on 621 East 1st. The complex is scheduled for completion this Spring. The building has four stories and contains 28 units, comprised of 1-3 bedroom condominium homes. Homes have expansive open floor plans, custom appointed kitchens, and a mix of traditional and modern features. Kitchens have 10 foot floating islands and Sub-Zero Wolf commercial grade appliances.
Features include king size bedrooms, hardwood floors, custom closets, audio package, wet bars, soaking tubs, large offices, and most iconic coffered ceilings and millwork.
Edison on First Features Garage Parking and Private Decks
Additional amenities and features include laundry, central air, garage parking, private decks, and commanding roof decks. The building is also equipped with boutique common areas and has an elevator and common roof deck. Condo owners can purchase additional garage parking for 100K.
Per the BRA, Washington Village will be a five-acre mixed-use project in South Boston close to the MBTA Andrew Station on the Red Line. The development will consist of eight buildings housing 656 apartments and condos. Units will range from studios through three-bedrooms, which will be available to rent and own. The eight buildings will range in height from three and four stories to 21 stories. The buildings will be built in three phases. Additionally, the development will feature 98,600 square feet of retail space. Altogether the development will have 650 parking spaces intended to accommodate residents and retail customers.
Washington Village is one of the largest approved residential projects in Boston
In addition to being one of the largest recently approved residential projects in the city, Washington Village is also notable in terms of its variety of housing types and price points. Of the 656 units, 110 of them (17 percent) will be designated as deed-restricted below market rates. This proportion of income-restricted units exceeds Boston’s affordable housing requirements, while being in accordance with the PLAN: Dot Ave initiative.
New open spaces and retail space
The project will add new open spaces totaling 42,500 square feet. These spaces will consist of pedestrian plazas, landscaped areas and a roadway network. The roadway network is being designed to “complement the fabric of the surrounding neighborhood” (per the BRA).
The retail portion of Washington Village is likely to include restaurants, cafes, a grocery store and a pharmacy. Construction of Washington Village is expected to be completed in 2021.
Coldwell Banker recently released its “Boston Condo Market Report: January-December 2016,” based on data from MLS. The report provides a detailed overview of key market trends for Boston neighborhoods. Neighborhoods include Back Bay, Beacon Hill, Charlestown, East Boston, Midtown, the North End, the Seaport, South Boston, the South End, the Waterfront as well as the Luxury $2M+ Condo Market segment. The report considers such market trends as total market volume, total number of listings, average days on the market, average sale price and average price per square foot.
Most notably, all neighborhoods saw increases year over year in the average sale price and the average price per square foot for sold condominiums. The downtown Boston condo market, in particular, had a strong year. Buoyed by Millennium Tower, Midtown saw the most significant increase in the average sale price in 2016 ($2,337,949), a 47 percent increase from January-December 2015. The Seaport District — assisted by 22 Liberty — also saw substantial increases in the average sale price and the average sale price per square foot.
Neighborhoods by Percentage Increase in Average Sale Price:
Midtown ($2,337,949) +47% from January-December 2015
Seaport ($1,279,791) +34%
East Boston ($424,173) +18%
Beacon Hill ($978,018) +16%
Luxury $2M+ ($3,529,537) +15%
South Boston ($683,655) +15%
North End ($623,188) +13%
Charlestown ($695,332) +8%
South End ($1,042,375) +6%
Back Bay ($1,682,258) +4%
Waterfront ($1,214,463) +3%
Neighborhoods by Average Sale Price Per Square Foot:
The condominiums at Pierce Boston — a luxury new construction mixed-use building in the Fenway with 109 condos and 240 rental units — are currently 35 percent pre-sold. Slated for completion in spring of 2018, the building features Jr 1 Bedrooms – 3 Bedroom Penthouse Suites with private balconies. Amenities include 80 parking spaces, a 24/7 concierge, 20,000 square feet of street-level retail space, a roof deck and outdoor pool, a fitness center and yoga studio and unobstructed views of the city.
Currently, there are four condominiums at Pierce Boston on the market. Condos at The Pierce have floor-to-ceiling windows, expansive living spaces and high-end appliances. The four units have an average living area of 1,227 square feet, an average listing price of $1,846,925 and an average listing price per square foot of $1,496.
Pierce Boston Condo Units on the Market:
Unit 22-7 D is a 612 Sq. Ft. 1BR/1BA (Listed at $924,500.00/Listing price per square foot: $1,510.62).
Unit 19-2 K is a 1,148 Sq. Ft. 2BR/2BA (Listed at $1,635,900.00/Listing price per square foot: $1,425.00).
Unit 20-5 C is a 1,296 Sq. Ft. 2BR/2BA (Listed at $1,913,600.00/Listing price per square foot: $1,476.54).
Unit 19A is a 1,852 Sq. Ft. 3BR/2.5BA (Listed at $2,913,700.00/Listing price per square foot: $1,573.27).
Harbor Towersare twin residential condominium buildings on the Boston Harbor and the Rose Kennedy Greenway. The two buildings — originally built in 1971 and converted into condominiums in 1981 — have 624 units in total, ranging from one-bedrooms through penthouses. Amenities include an outdoor pool, a fitness center and 24/7 concierge service and security, while parking is located in an adjacent lot. Situated in an ideal location, Harbor Towers offer ready access to the Financial District, MBTA transit, Boston Logan International Airport and some of the best restaurants and attractions in the city.
Currently, Harbor Towers is almost completely sold out of inventory, though there are two 1-bedrooms currently available for rent. The following is a breakdown of the average price, average square footage and average price per square foot for recent sold units at Harbor Towers, as well as those averages for units that have been rented (last six months) and units that are currently available for rent:
Harbor Towers Recent Sales:
Over the last six months, there was one sale of a 2-bedroom unit ($845,000/1,229 sq. ft./$687.55 price per square foot).
Harbor Towers Units Rented Recently:
Over the last six months, there were two rentals of 1-bedrooms (Average Price: $2,650/Average Square Footage: 751.5 sq. ft./Average Price Per Square Foot: $3.53).
There was one rental of a 2-bedroom unit ($4,500/1,660 sq. ft./$2.71 price per square foot).
Units Available For Rent:
There are two 1-bedrooms currently available for rent (Average Price: $3,000/Average Square Footage: 812.5 sq. ft./Average Price Per Square Foot: $3.69).