Its all happening tonight at the Boston Innovation Center at 75 Northern Avenue in Bostons Seaport District. At 6:30 PM, the public will have its first opportunity to view plans for Parcel K, what is currently a parking lot across from the Bank of America Pavilion at the corner of Congress Street and Northern Avenue.
While it now finally is certainly no surprise, the Seaport District along Bostons Waterfront is sure to be the next hotbed for the real estate industry. The past few years, especially lately, has seen headlines full with news about future developments in the Seaport. From world-class hotels, to spectacular luxury apartments and condominiums, to stores, new restaurants and more, there is much to be excited about for this bustling area of the Hub.
So what do these plans entail? They are being done by Conroy Development of Stoughton, who are proposing a 246-room boutique hotel, in addition to a 304-unit luxury apartment building in two separate facilities. The hotel will feature 150,000 square feet and will be on the eastern side of the parcel, while the residential building will consist of 300,000 square feet to Parcel Ks western boundary. There will also be 25,000 square feet dedicated to retail space, and 16,000 square feet to be used as business innovation space. Finally, there would be a much needed underground parking garage which will be large enough to hold 640 vehicles.
Last Spring, the owner of the 2.4-acre lot, the Massachusetts Port Authority, rejected a slight variation in the plans. MassPort and former Mayor Thomas M. Menino were opposed to the notion of there being apartments at the site, or at least at the specific location they were originally planned for. Essentially, the plan we see today was flip-flopped, and had the apartment complex on the eastern boundary of Parcel K. However, Conroy Development and MassPort have now come to an agreement that would allow for a combination of residences and other uses on the Parcel K property, especially given this rearrangement. This deal had to be stuck as Conroy Development will lease the land from MassPort, who have not put the property itself up for sale.
A MassPort spokesman came forward to note that, The revised project has responded well to the concerns that were expressed earlier by moving the apartment units away from the maritime working port and the truck route. This change alleviated the concerns shared by MassPort and the city of Boston. The project will continue to be evaluated, as any development will, in the permitting process.
It will undoubtedly be an intriguing evening tonight at 6:30 PM in the Seaport District at the Boston Innovation Center. With this being just the latest of the dozens of projects in the pipeline in the burgeoning Seaport, the future has never looked brighter than it does today.
More Information: Boston Business Journal