The story only continues. The Boston Redevelopment Authority have had quite a busy spell over the past couple of years with literally countless projects sprouting up from the ground throughout all corners of the city. It was only yesterday when we reported that in The Fenway alone there have been numerous plans to revitalize the entire neighborhood with upwards of $1 Billion invested. As we have so frequently done over the past twelve months, the Innovation District and East Boston are also the next hot-spots within the city where perhaps the greatest potential still exists for future development.
While much is to come of these areas over the next decade, even more visions are being drawn up which will soon grace these evolving neighborhoods. The Boston Redevelopment Authority has yet again come forth with some enthusiastic news with $300 Million in new projects just approved within the past few weeks.
The first, a 32-story apartment tower near the TD Garden, is a $200 Million venture to be known as Nashua Street Residences. Headed by AvalonBay Communities, this location will have 503 spectacular apartment units. In addition, another approved proposal from First Bristol calls for a $31.5 Million Hilton Garden Inn and retail plaza to soon be erected along Route 1A. Here there will be a 112,830 square-foot mixed-use development with a further 6,270 square-foot retail building, and a 4,035 square-foot restaurant complex. Next was Suffolk University who three years ago had approved plans that they then wished to change and only last week finally received restructured approval. This furthering of the University at 20 Somerset Street will benefit their New England School of Art and Design and will be 10-stories in height, will have 112,000 square-feet and will cost $62 Million to build. Finally, Charlestowns Navy Yard just acquired an approval notice for a $16 Million residential development consisting of 54 units by the developers known as Kavanagh Advisory Group. So with developments seemingly coming from all corners of the city limits of Boston, it seems as though this building phenomena is no more apparent from recent memory than in East Boston and the Innovation District.
More Information: Boston Business Journal