Saturday, November 17, 2012

According to a story in the Boston Globe the first phase of the Pier 4 project on the ever changing South Boston Waterfront, officially known as 100 Pier 4 broke ground on Friday.  There are now more than 1100 housing units currently being built on the South Boston Waterfront's Seaport District according to the Boston Redevelopment Authority.
Read more from the official Globe story here: The Hanover Company, a Texas-based group, and officials with the Boston Redevelopment Authority broke ground Friday on the first phase of the Pier 4 project, which will add 396 new residential units to the South Boston Waterfront.

The $195 million 100 Pier 4 project, at the intersection of Seaport Boulevard and Northern Avenue, is part of a much larger development that will transform the 9.47-acre site that is currently home to the famed seafood restaurant Anthony’s Pier 4 and a large parking lot.
The restaurant won’t be closing during construction, according to the Boston Globe.
The project will construct a 21-story tower that will house the units. Developers with New England Development, which sold the parcel to The Hanover Company, had previously envisioned the building housing office space.
The tower’s units will be a mix of sizes, ranging from studios to three-bedrooms, and space will also be constructed to house close to 11,000 square-feet of retail space and 258 underground parking spaces. Thirty-two of the units will be deemed “affordable,” and 50 of the units will be innovation units, which are smaller, cheaper living spaces, according to the BRA.
Two other buildings will be constructed by New England Development on the site, eventually bringing close to 1 million square-feet of hotel, residential, office, and retail space to the pier. In addition to the buildings a one-acre public park will be constructed where Anthony’s Pier 4 currently stands and the Harborwalk will be extended by 1,800-feet.
The first phase of the project is expected to be completed in 2014, according to the Boston Globe
Currently there are close to 1,100 housing units under construction along the South Boston Waterfront, said the BRA.
(Story from the Boston Globe)

Karen Powers, Real Estate Broker

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