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Seaport District: $126 Million Tower Breaks Ground

Seaport District, Boston Seaport, Innovation District, Seaport Real Estate, Skanska, PricewaterhouseCoopers, PwC

Groundbreaking with Mayor Thomas M. Menino and Skanska at 101 Seaport Boulevard

The Seaport District of Boston has received a great deal of attention over the past couple of years with an incredible amount of investment occurring right on our shoreline. In fact, it was not long ago when we reported about the long-awaited Innovation Center opening this summer as part of Mayor Thomas M. Meninos greater vision for the Innovation District within the Seaport. Now, with certain developments already underway or soon to be, one massive initiative from the Skanska development team has just broken ground today!

Located at 101 Seaport Boulevard, Skanska in partnership with PricewaterhouseCoopers was joined by Mayor Thomas M. Menino himself this afternoon to lift the first shovel of dirt to commence the project. For what is estimated to cost upwards of $126 Million, this eventual 17-story building will be the future headquarters of PwC who will assume 75% of this future top-class facility. Consisting of 450,000 square feet of space with a fifth floor being a completely open terrace accessible to the public, the finished product will undoubtedly be something truly remarkable.

This future landmark of the Seaport District is just one piece of the puzzle for the larger vision that developers and investors have for this area of Boston glistening with potential. Shawn Hurley, Skanskas Regional Manager, was reached for comment today and stated that, Todays ceremony is much more than just about 101 Seaport, its a celebration of the Innovation District and the tremendous momentum that the neighborhood has behind it. This growth and momentum certainly did not happen by chance, we would not be here without Mayor Menino. Nobody has played a greater role in shaping and making the Innovation District what it is today.

Indeed Mayor Menino has made great strides to accomplishing this goal for the Seaport by making it far more attractive and possible for development of this scale to occur. The Mayor also came forward and shared, The 200 businesses that have moved down here will need some good accountants. I look forward to working with you in the future in the private sector to keep Boston moving forward.

Morgan Stanley along with Boston Global Investors sold the site where this building will be erected at the corner of Seaport Boulevard and Boston Wharf Road for $33 Million. This 23-acre parcel is also across from the Seaport Square Park and is adjacent to Parcel K, which Skanska bought last year for $18.6 Million. This other endeavor is in partnership with Twining Properties, who together will construct a 350-unit apartment complex within 275,000 square feet. Both of these projects highlight the broader 6.35 million square feet of residential, retail, commercial, hotel, and civic/cultural space planned for Seaport Square in the very near future.

It was also just reported that Skanska is in negotiation with Boston Global Investors regarding a third parcel across from the PwC location to build yet another building, this time of 425,000 square feet. There truly is no location in Greater Boston today that has as much justified hype that not too far down the line will be completely transformed making it an iconic destination for businesses, visitors, and locals alike for years to come.

More Information: Boston Business Journal

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