Four of these six projects are residential and will bring new housing units to many areas around Boston.
One of the largest scale projects to gain approval is the second phase of Waterside Place in Seaport.
This development on the South Boston Waterfront has been a work in progress since 2007 and although it has been altered many times it will finally be adding on to the current development that opened there in 2014.
The next phase will include 307 rental apartments across a 23 story building adjacent to the current development.
Apartments will range from studio to three bedrooms, with 62 ‘innovation units.’ These units will be smaller than the rest, but benefits from the building’s communal amenities.
Along with the residential development will be 3,500 square feet of retail space.
As a part of the Massport property, Waterside Place benefits from great connections to public transportation with MBTA’s World Trade Center Silver Line stop right next door. South Station is also very close by.
Construction is scheduled to begin at the beginning of 2017 and be complete by early 2019.
As if the Seaport needed another reason for people to want to be there, it is now the proud home to Mario Batali’s first Boston restaurant. Babbo Pizzeria e Enoteca is set to open its doors tonight at the ever-growing Fan Pier complex.
This new restaurant will be a reasonable choice for the local consumer with the most expensive plate coming in around only $35. It will join other restaurants like Strega, Empire and Sam’s at Louis at Fan Pier.
Add this to the growing list of amenities that will be at the doorstep of the many residential and corporate buildings being constructed in the area. Residents of Twenty Two Liberty and the future Pier 4 condos will be able to say they are neighbors with a James Beard award winner and a Culinary Hall of Famer. In combination with spectacular harbor views and state of the art luxury accommodations, Boston’s Seaport is a place to live the dream.
As reported yesterday by The Wall Street Journal, Chinese insurance firms are investing in the Pier 4 Condos to be built in Boston’s seaport district. China Life Insurance Group Co. and Ping An Insurance Co. are joining Tishman Speyer Properties in the $500 million development where the Chinese investors will have a majority stake according to the Journal’s sources.
It is expected that the residential portion of the project will consist of 100 condos. The preliminary timeline is for the Pier 4 Condos to open in early 2018 after the opening of the office-building portion.
These residences will join the Park Lane Seaport Apartments, Twenty Two Liberty condos among other new luxury living choices in the growing area. With the 2018 arrival set for Pier 4 condos, the area should already be booming with the massive development of Fan Pier already underway. Even the smallest of condos are likely to fetch seven figures easily 3 years from now. A 2 bedroom/3 bathroom unit at the Intercontinental just came on the market this week for $2.375 Million located in the same area at 500 Atlantic Ave.
With foreign money more interested than ever in the city of Boston, there is no doubt the local real estate will continue to grow.