Big news is piping out of the Hub yet again with regards to the construction industry, this time in the Theater District with news that a massive $175 Million tower has broken ground. The developers, AvalonBay Communities, are the ones behind such a project, known as AVA Theater District.
To be located at 45 Stuart Street, this building was designed by CBT Architects right here in Boston and will have two towers, one of 28- and the other of 30-stories. In total, 398 apartment units will call this spectacular address home within the 500,000 square feet of interior space. Five of the stories will be represented by a gorgeous glass curtain wall, providing a pedestrian walkway connecting LaGrange and Stuart Streets. The developers have put a great deal of importance on lighting, and will look to highlight the gorgeous exterior and streetscape in a way that will complement the Theater Districts character.
This luxury residential building will consist of studio, one- and two-bedroom units with an additional 40 on-site units being strictly dedicated as affordable units. Also coming to this location is a much needed parking garage that will be of five-stories and have room for 198 vehicles. This building will be available solely as luxury rental units with studios of 475 square feet starting at $2,200, one-bedrooms of 620 square feet starting at $2,500, and two-bedrooms of 1,000 square feet starting at $3,500. Michael Roberts, the Vice President for Development at AvalonBay closed on this fantastic news that the project is now underway and stated that, Our AVA brand is the perfect fit to create a vibrant, 24/7 community and help to revitalize the area. This is great news for the real estate industry heading into this new year as the increase in inventory for buyers and those looking to rent property will drastically improve this market going forward.
More Information: Boston Business Journal