Boston’s Seaport District
What more can possibly be said about the Seaport District of
Boston? There perhaps has never been a more highly anticipated
future area to be developed on the Eastern seaboard than this
portion of the Boston Waterfront.
From what today is nothing more than an area defined by vacant
lots, parking spaces, and old warehouses, it will soon be a
flourishing metro-area riveting with energy and bounded by brand
new magnificent facilities for those at work, those at play, those
on vacation, and those who wish to live the unique and luxurious
lifestyle that can only be experienced in Boston here in the
Seaport.
The latest announcement, and yes they seem to be
arriving daily, comes in the form of a gorgeous boutique hotel that
has been drawn up. At 100,000 square feet and six-storys tall, the
future Envoy Hotel will set developers Norwich Partners back $42
Million to construct. What currently is a parking lot and located
at 66 Sleeper Street, this complete transformation will see 136
luxury rooms, a public roof deck with a bar and lounge offering
city views, and much more call this prime address home.
The location for visitors is unrivaled. Boston
landmarks such as the Barking Crab are only one block away, and
guests are fortunate to be able to stay in the prized location of
what is destined to be Bostons hot-spot for years to come where all
of the action is. This property has a recent history of
transactions in the Boston market, with FPC Hotel LLC, a branch of
Norwich Partners, buying the 16,910 square foot parking lot back in
2011 for $8.99 Million. Since then, funds have been raised as the
vision of the Envoy Hotel became a more realistic endeavor, and an
additional $38.5 Million was thus borrowed from RBS Citizens
NA.
The much awaited groundbreaking is slated for Friday, October
25th, 2013. The project as a whole is expected to be completed and
open for business during the Spring of 2015. Further developments
in the hospitality industry are also proposed for the Seaport District and
surrounding area. A pair of hotels across from the Boston
Convention & Exhibition Center will be constructed by CV
Properties. In addition, Commonwealth Ventures, Starwood Hotels,
and Resorts Worldwide are teaming up to build a 180-room Element
Hotel as well as a 330-room Aloft Hotel. Just a few days ago we
reported about even more news announcing that The David Cos. have just
paid $43 Million for an office building in the Seaport which they
have committed a further $2.5 Million towards renovating the space.
While the Seaport District
today is essentially nothing more than a vacant desert, already the
availability of land and formerly deserted buildings have
diminished as forthcoming plans to design a prosperous Seaport for the
future have caught fire.
More Information: Boston Business
Journal