Proposed for the Seaport District
Only last week did we report on the $126 Million tower
breaking ground in the Seaport District of
Boston. Well, the positivity only continues today. With truly not
much land left to play with in this up-and-coming part of Boston,
any news that we now hear coming from this location is highly
concentrated on the already purchased lots of land getting their
projects underway. It appears as though there are still diamonds in
the rough, as another Boston developer has filed plans for new
condominiums to be built in the Seaport.
What is now a parking lot at 338 Congress Street at
the corner of Farnsworth Street near the Boston Childrens Museum,
this latest proposal just put before the Boston Redevelopment
Authority calls for forty condominiums. Gate Residential LLC, a
branch of Redgate Real Estate Advisors, are the developers behind
this much anticipated project which will see a 118-foot building of
roughly nine stories soar above its 4,939 square foot plot of land.
The ground floor of the residential facility would house luxurious
retail space.
Redgate does not currently own the parking lot, and if the BRA
does happen to accept this proposal in the near future, estimates
are in that the parking lots price to Redgate would rise from the
current pre-bid acceptance value of $495,500. The next frontier of
Boston being the Boston Seaport
District evidently has even more surprises for us in store with
yet another magnificent endeavor hopefully to be built in the
coming years.
More Information: Boston Business
Journal