The Pier 4 complex includes two buildings, one an office building and the other a condominium building. Designed by Elkus Manfredi Architects, the office building is a striking addition to the architectural landscape of the Seaport District as visible from the water and the new Seaport District neighborhood.
The building’s waterfront prime location determined the design of an iconic building that would have high visibility from the Harbor, from the city and within the Seaport neighborhood. The building’s modern glass and steel exterior provides two distinct and different signature façades one facing the harbor and the other facing the city.
The West façade, facing Boston, has a more subdued gesture. It opens up to the city with a convex façade and having its three main features, the main entrance, a trapezoidal cut-out terrace at the fourth floor facing the Institute of Contemporary Art museum, and an open to the sky Penthouse terrace. All of these moves are located in a staggered rhythm creating movement towards the water.
The East Side, facing the harbor in a more intimate way, have these two story undulating triangular moves that shift and slide between each other, creating a constant movement that changes though out the length of the day. At night, the underside of the waves is lit up continuing to show this same effect causing a reflection on the harbor and the pedestrian walk below.
To achieve an oversize dimension of the glazing units (IGU) without the use of visible horizontal mullions, an intermediate transom or ‘kiss mullion was introduced. This allowed uninterrupted sleekness to the curtain wall surface.
The office lobby is located in the center of the building creating a public corridor from east to west serves as an important element in the public access requirements of the building, creating permeability through the building.
Elkus Manfredi Architects has been central to the redevelopment of Boston’s Seaport District since 2010. That year, with its initial project One Marina Park Drive, the firm set a high architectural standard for mixed-use buildings in the area. Elkus Manfredi’s next District project, Liberty Wharf, was completed in 2012. Liberty Wharf is a lively waterfront restaurant/office complex that strategically reinstated a missing section of Boston’s famed HarborWalk and has been recognized with a number of design awards, including the Preservation Achievement Award of the Boston Preservation Alliance. Elkus Manfredi has since played a substantial role in ongoing urban planning, and architecture in the Seaport: in a three-square-mile area, the firm is responsible for over six million square feet of new and re-purposed space, including retail, office, life science, hospitality, and mixed-use.
New-home sales in the United States unexpectedly increased in April after swooning a month earlier, suggesting the housing market is starting to stabilize.
Purchases of new single-family houses climbed 0.6% from March to a 623,000 annualized pace, government data showed Tuesday. The median forecast in a Bloomberg survey of economists called for a drop to a 480,000 rate of sales. The median sale price fell 8.6% from a year earlier to $309,900.
The report boosted the stocks of home builders, which have rebounded in recent weeks. An index tracking the industry had jumped 19% in May through Friday, beating the gain in the S&P 500.
Mortgage rates near historic lows may be putting a floor under the housing market. And even as soaring unemployment and tighter credit standards threaten to complicate the recovery, home-building is proving to be a bright spot. Builders have been helped by local governments, which in many cases have deemed the industry essential and allowed work to continue.
Job losses are primarily hitting renters who are more likely to be working in lower-paying service and hospitality jobs that were damaged most by social-distancing rules, said Mark Vitner, senior economist at Wells Fargo.
Unlike the existing home market, which has seen a big drop in inventory, builders were able to accommodate buyers, showing floor plans virtually and even offering drive-thru closings.
“If the reopenings continue, housing may provide an upside surprise to the economy this year,’’ Vitner said.
Three of four US regions showed stronger home sales in April than a month earlier, reflecting 2.4% gains in the South and Midwest, the Commerce Department’s report showed. Purchases climbed 8.7% in the Northeast and dropped 6.3% in the West.
The government’s data measure signed contracts to buy homes. The slight gain in April came after sales dropped the most since 2013 in March, when much of the US economy shut down to stem the spread of coronavirus.
While housing is holding up better than expected, the recovery will depend on how quickly the rest of the economy bounces back.
“We’re still trying to understand what is the new normal,’’ said Alex Barron, an analyst with the Housing Research Center in El Paso.
The COVID-19 public health crisis has slowed many industries since Governor Charlie Baker introduced a stay-at-home order in March, and real estate is no exception. Even so, multimillion-dollar listings continue to pop up on the market.
Boston’s luxury condo market is facing a mismatch between supply and demand: Developers are building condos aimed at the wealthiest buyers, but buyers are looking for a wider range of prices, according to real estate experts and recent data.
While Boston’s population is growing, wage growth hasn’t kept up with the fast rise of prices, according to a recent recap of Boston’s luxury condominium market by The Collaborative Cos.
“Buyers have not been able to fully engage in this new, costlier market,” the report said. “The factors which would traditionally support a fast-absorbing pricing dynamic do not appear to be available for this current supply of product.”
In other words, thousands of luxury units are being built across the city, but sellers may have to lower those prices or risk sitting on unsold condos until the supply-demand imbalance gets restored. The report recommends that a consistent volume of sales can only happen if new residential units are designed with a broader range of sizes and price points.
Record-high sales prices
Total home sales fell over the course of 2019, sending worries through Boston’s residential brokerage community. But at the same time, Boston saw record-high sales prices: The median cost for a condo in Boston was $810,000 in 2019, and average listing prices were $280,000 higher in 2019 than in 2018, said Laura Gollinger, vice president of The Collaborative Cos., who oversees research and design development programs for the Boston-based residential consulting and analytics firm.
“Some people were kind of saying the sky was falling. And in reality, yeah, the absorption was less. But the price points were much higher,” Gollinger said. “The number of transactions was slightly less, but the price points were record-setting.”
For instance, at both the recently opened Four Seasons Private Residences One Dalton Street in Back Bay, and at Pier Four in the Seaport District, some units sold at over $4,000 per square foot. “The city’s never seen anything like that,” Gollinger said.
Some 25,700 units are either planned or under construction across Greater Boston, according to the report. In the Seaport alone, some 1,200 apartments and condominiums are expected to come online within one block of each other, at NEMA Boston, EchelonSeaport, Gables Seaport and the St. Regis Residences, Boston.
EchelonSeaport is a good example of unit diversity: With a price range of $700,000 to $5 million and higher, EchelonSeaport has seen a “brisk pace,” selling around 10 units per month.
This year prices may level off, which could allow wage growth to catch up, said Mike Schlott, president of Kinlin Grover Real Estate, which operates from Cape Cod through Plymouth and Bristol counties.
“The last couple of years I think we’ve seen a more normalization in price appreciation in Massachusetts,” Schlott said. “Hopefully wage growth is keeping up with that.”
The heaviest competition continues to be for homes priced under $1.5 million. In past years, the buyer pool would have been focused on the under $1 million range, Brian Dougherty, managing director of residential brokerage Compass in Boston and head of the firm’s private brokerage division, said.
“The price band under $1.5 (million) is where buyers have to roll up their sleeves and really make a very strategic effort to find a place in core Boston,” Dougherty said.
Dougherty recalled one property, priced at $1.25 million, that recently received 17 offers to buy. “There are for sure buyers that in years past would have been in the mix, and they’re kind of waiting it out, or they’re priced out of the market,” he said.
Boston’s buyers have predominately been locals, Gollinger said, as opposed to Manhattan, which tends to draw a larger pool of foreign investors. As a result, the pool of buyers who can afford an ultra-luxury product is small relative to the city’s entire residential market. In 2019, for all of Boston’s luxury residential buildings, there were just 60 transactions at $6 million and above, Gollinger said. Most of those were at One Dalton and Pier 4.
“As you get larger in terms of your price point, your demand dips,” Gollinger said.
At the ultra-luxury Raffles Back Bay Hotel & Residences, now under construction now at 40 Trinity Place, a majority of units will be priced between $2 million and $5 million. That’s an example of where The Collaborative Cos. is advising developers to not emphasize the top 1% of buyers.
“There’s definitely demand for both new luxury and new mid-luxury,” Gollinger said. “I just caution that, as people are planning new projects, really keeping in mind who the buyer is, because having empty buildings isn’t good for anybody.”
The developer of a 138-unit luxury condominium tower in Boston’s South End says presales activity has been strong ahead of its scheduled completion this fall. The Davis Cos. partnered with the Boston Chinese Evangelical Church and Chinese Consolidated Benevolent Association on the 100 Shawmut condo development, which held a topping-off ceremony Tuesday.
Designed by The Architectural Team of Chelsea with Suffolk as construction manager, 100 Shawmut redeveloped and expanded a 6-story office building into a 13-story, 232,000-square-foot condo tower. The building will feature high-end finishes designed by Embarc Studio and a 13th floor indoor-outdoor lounge.
Advisors Living is the project’s sales agent. Other members of the project team include Copley Wolff Design Group, Howard Stein Hudson Associates, McNamara Salvia and WSP. Construction lenders include M&T Bank, Berkshire Bank, HarborOne Bank, Needham Bank and Bank of New England. The project complied with Boston’s inclusionary development policy by designating BCEC and CCBA as recipient of its affordable housing contribution. The organizations are planning to develop 536 apartments and condos on neighboring parcels, including 26 percent dedicated for affordable housing.
The 13-story, 138-unit condo building at 100 Shawmut Avenue in Boston’s South End officially topped off on March 9, lead developer the Davis Companies announced. The luxury development in a neighborhood peppered with them is expected to open this fall.
Pre-sales have already started at 100 Shawmut, and a release from Davis says that they’ve been met “with strong interest.” But a spokeswoman declined to elaborate.
The development at Herald Street and Shawmut Avenue is due to include 22 studios, 34 one-bedrooms, 23 one-bedrooms with a den, 27 two-bedrooms, 15 two-bedrooms with a den, 12 three-bedrooms, three three-bedrooms with a den, and two four-bedrooms. Eleven of the units will be penthouses.
“We are thrilled to celebrate yet another milestone of 100 Shawmut,” Jonathan Davis, founder and chief executive of the Davis Companies, said in a statement. “This project is a great example of an innovative and sustainable development in what is becoming a new nexus between the Back Bay and South End neighborhoods.”
The 232,000-square-foot 100 Shawmut incorporates the 1920s facade of the office building that was there within a new glass structure. The Architectural Team, based in Chelsea, handled that design, and EMBARC Studio of Boston designed the interiors. Copley Wolff is the landscape architect.
The building’s amenities are due to include a 24-hour concierge, private parking for 112, billiards, a fitness center, a dog-washing station, and a playroom for the kids. A rooftop lounge is expected to include gas grills and fire pits.
In the end, the years-in-the-making project came about through a partnership between Davis, the Boston Chinese Evangelical Church (BCEC), and the Chinese Consolidated Benevolent Association (CCBA).
Davis, as part of advancing 100 Shawmut, is contributing $15 million to a city-controlled escrow account for developing affordable housing at a CCBA-owned site at 50 Herald Street next to 100 Shawmut. That project is expected to hold 313 apartments, 26 percent of which will be designated affordable.
Steel framing is rising for the luxury condo project, 100 Shawmut in the South End. The project will offer 138 homes featuring elegant finishes including white oak wood floors and Silestone countertops. Resident amenities will include a 24-hour concierge service, valet parking, a fitness center, library, pet spa, children’s playroom, and a rooftop sky lounge.
We are thrilled to introduce you to restaurateur Kristin Canty who will be establishing the Seaport’s first farm-to-table restaurant at PIER 4.
You may recognize Canty’s name as the mastermind behind Concord’s popular Woods Hill Table. Wood’s Hill Table is an organic restaurant, complete with a full bar, that is a culmination of Kristin’s passion for food, family farms, sustainable sourcing and ancestral health.
Read the below Q&A to learn about her inspiration, favorite dishes, why this location, and more.
Q: Why this location?
A:Having grown up in the Greater Boston area, I have fond memories of celebrating with friends and family at Anthony’s PIER 4. As a restaurateur, I’m inspired by its impact on the Boston restaurant scene. While the Anthony’s PIER 4 experience could never be replicated, we do hope to honor its legacy by providing the Seaport a convivial waterfront dining atmosphere and warm hospitality.
Q: Where do you source your products?
A: We source our products from our proprietary farm, The Farm at Woods Hill, in Bath, New Hampshire, and several other small, supporting purveyors. Purchased in 2013, our farm is the source for the vast majority of the food served at Woods Hill Table, including pasture-raised cows, pigs, broiler chickens, laying hens, ducks, lambs, blueberries, garlic, pumpkins, apples and more. The 265- acre property also boasts four beehives, and 200 mushroom logs that sprout mushroom varietals including oyster, shiitake, lion’s mane and maitake.
Q: When did you open Woods Hill Table and why?
A: I purchased the farm in 2013 and opened the doors to Woods Hill Table in March 2015.
Ever since I was personally impacted by the healing power of food many years ago, ancestral health has become a personal and public passion. Defined by pasturing farm animals, growing produce without pesticides and embracing raw and fermented foods, the concept is seamlessly woven through the Woods Hill Table menu, allowing me to share the foods that I’ve long created for my family with the larger community.
Q: What’s your favorite dish? Ingredient?
A: I’m a huge raw food advocate, and I eat our Woods Hill Farm Beef Tartare almost every day! It’s made with beef from our own pasture raised, grass-fed cows and is both flavorful and incredibly nutrient dense.
Q: Tell us more about Farmageddon.
A: After seeing the impact the incorporation of raw milk had on my son’s health, I spent years working with and advocating on behalf of farmers locally in New England and across the country. This inspired me to produce my documentary, Farmageddon – The Unseen War on American Family Farms. The film, which was released in 2011, captures the obstacles faced by the modern farmer and the injustices, including government raids and search and seizure, so often faced by the families that form the foundation of America’s food system.
BOSTON — The Davis Companies hosted a groundbreaking celebration to launch 100 Shawmut, the South End’s newest collection of thoughtfully designed luxury condominium residences slated to open in Fall 2020.
100 Shawmut is the first of three abutting projects, collectively approved by the Boston Planning and Development Agency, to commence construction. Speakers included Martin J. Walsh, Mayor of Boston, Jonathan Davis, Founder & CEO of The Davis Companies, Steven Chin, Senior Pastor at the Boston Chinese Evangelical Church, and Paul Chan, President of the Chinese Consolidated Benevolent Association.
“Today, we celebrate the groundbreaking of 100 Shawmut – a project realized through a unique partnership between The Davis Companies, the Boston Chinese Evangelical Church and the Chinese Consolidated Benevolent Association,” said Jonathan Davis, Founder & CEO of The Davis Companies. “Our collaboration has yielded a dynamic development for the historic South End and this innovative property will ensure that our Chinatown-based non-profit partners will be able to serve the community for years to come, in addition to bringing new housing and jobs to our city.”
Located at the intersection of Herald Street and Shawmut Avenue, the $170 million, 13-story, residential project is comprised of 138 condominiums, including studios, one, two, three- and four-bedroom units, many featuring a den space.
When 100 Shawmut is completed, the 232,000 square-foot property will seamlessly integrate the historic character of the original 1920’s facade with a newly constructed glass structure designed by The Architectural Team (TAT). The building will have a number of private balconies offering sweeping vistas of the city. EMBARC Studio, the interior design team, has created a modern approach to the interiors with a mixture of white oak wood detailing and textural stone conveying a warm, neutral color palette, transitioning and merging the neighborhood architecture with a fresh, new interior.
The building will have a comprehensive amenity program that includes 24/7 concierge, private parking, a private dining/conference room with an entertaining kitchen, a great room, a billiard room, an activity lounge, library, fitness center, dog wash station and children’s playroom. The Penthouse features an indoor and outdoor residents lounge, and a rooftop sky lounge equipped with gas grills and fire pits. 100 Shawmut also houses 3-levels of enclosed private parking containing 112 spaces for residents.
“100 Shawmut presents a rare opportunity to live in a stylish, new condominium building in the South End, one of Boston’s most sought-after historic neighborhoods,” said Janice Dumont, CEO of Advisors Living. “The definition of modern luxury has just been elevated. The comprehensive amenity program, along with the building’s incredible views, private outdoor spaces and the availability of three-and-four- bedroom residences and penthouses creates a new lifestyle experience in the heart for the city for homeowners. We are privileged to be the exclusive brokerage firm for The Davis Companies on this unique property.”
The Davis Companies will be making a $15,000,000 contribution toward the creation of Inclusionary Development Policy (IDP) units in an escrow account controlled by the BPDA for the benefit of the CCBA Building. In addition, The Davis Companies has committed $200,000 to various community programs.
Suffolk Construction is the general contractor for 100 Shawmut. The Architectural Team, Inc. located in Chelsea, MA is the design architect and EMBARC Studio, located in Boston has designed the interiors. Copley Wolff Design Group is the landscape architecture firm for the project. Engineers for 100 Shawmut are McNamara Salvia, WSP and Howard Stein Hudson Associates.
The project is financed by a $105,000,000 construction loan from M&T Bank with participating lenders that include Berkshire Bank, HarborOne Bank, Needham Bank, and Bank of New England.
The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $6.2 billion in gross asset value through real estate equity, debt and fixed-income securities. A combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 10.2 million square feet of office, retail, hospitality, light industrial, healthcare and life science properties and approximately 5,000 residential units across the Eastern United States.
Advisors Living is a full service luxury real estate lifestyle and brokerage company representing residential, new development, and leasing clients. Our team is committed to exceptional service and delivery and our depth of experience is unparalleled in today’s market. The properties we represent include Pier 4 in the Seaport, which has achieved the highest price per square foot to date in the City of Boston. New development sites extend as far north as Newburyport and as far south as Westport with a strong presence in the metro west and Boston markets.
Meet the Archer Residences, 67 very fancy units coming to Beacon Hill in the near future. The Archer’s penthouse, which is currently the most expensive home for sale in the city at a whopping $18 million, is poised to be architectural marvel when it’s completed. Both levels of the home are connected by a floating wood-and-steel staircase enclosed by glass—and the shiny glass accents don’t stop there. Floor-to-ceiling sliding glass doors in the main living area open directly to a rooftop terrace, where there’s a Jacuzzi and an infinity-edge pool.