Quincy ... The Future

The Next Big Urban Turnaround – Downtown Quincy

Street-Works Development Company LLC of New York has proposed a $1.4 billion plan to reinvent downtown Quincy. The Company announced that it had hired Boston’s Suffolk Construction to lead the massive build out. This transformational project calls for 680,000 square feet of offices, 590,00 square feet of stores, 1,100 residences, a least one hotel, several parking garages, and reconstruction of streets and sidewalks.

Among the components, Kenneth Narva, founding partner of Streetworks, said the firm is targeting are: a medical office complex, wellness center, retailers such as food and drug stores, and residences ranging from assisted-living units to loft-style apartments.

Street-Works is expected to soon release details about the makeup of the overall project, such as how all the elements will be designed and fit together and what kind of retailers, residents, and office users the firm will seek to attract.

A few problems still lay ahead for Street-Works. The company has to obtain multiple permits before construction can begin, which will probably not be before 2012. Also, the project team still needs to arrange outside financings. Lastly, The Quincy City Council is expected to vote on a development agreement with Street-Works early next year.

“Simply put, New Quincy Center will be the largest private investment, the largest job creator, and the largest engine for new economic growth in our city’s history,’’ Mayor Thomas Koch said.


We will continue to follow this project and provide updates when available.

The W sold for 2 Million = Newsworthy

Well not exactly Globe Street reports...

NEW YORK CITY-The W Hotel New York in Union Square, which a Dubai World unit had bought for $285 million in 2006, has sold in a foreclosure auction to one of the property’s lenders. The winning bid by 201 Park Avenue South PEH, LLC was $2 million, and the bidder also assumes $212 million in debt on the property.

9-23 Miner Street

The Boston Herald Reports:

A plan for what would have been New England’s first over-55 community for gays and lesbians is facing more obstacles.

Stonewall Miner LLC, an arm of Abbott Development, was named to the city’s Top 10 list of tax delinquents for failure to pay $68,900 in real estate taxes for 23 Miner St. near Kenmore Square, where the condo complex was to be built.

Abbott and Stonewall Communities, a nonprofit organization whose mission is to build housing for gays and lesbians over age 55, planned a 53-unit development that would have filled a vacant lot and replaced a two-story building on Miner Street, between Harvard Vanguard’s Kenmore Square facility and Beacon Street near Fenway Park [map].

The one- and two-bedroom condominiums were expected to range in price from $400,000 to $700,000.

My thoughts: Sell us the land now and we will build now! Not sure what they are waiting for.... Great piece of property.

Dubai Selling Off Its Assets

Globe Street reports


DUBAI, UAE-Speculation has been in the air for weeks that Dubai World many need to sell some of its prime real estate assets in order to pay down the $26 billion of debt it holds from Nakheel, the company’s real estate arm. And now, according to reports, a top government official has confirmed an asset sale could be waiting in the wings.

New Housing at Haymarket RKG Parcel

Housing at Haymarket

What to do with the busy area of Haymarket? A question that will be decided soon. It looks as if the state will approve a 78-unit, 40 million dollar apartment complex over the Boston History Museum and the 137,000 square foot office building on the corner of Blackstone and North Street. This apartment complex will over look the Rose Fitzgerald Kennedy Park, with bottom level produce, 78 apartment units and will take up just under 30,000 square feet. The museum which was thought to go up lacked financial help. So it looks like the Massachusetts Department of Transportation will allow Eastat Reality Capital to go forth with their housing development plan. I think its a good place for a high rise luxury apartment building, but will definitely compete with the recent opened Archstone Avenir. They will battle and it will bring an interesting and new look to the North End area. I'm exited to hear more of about this project. We will keep you updated.

40 new Condos South End

Boston Homes Link Reports...

Urbanica Design & Development, which transformed the old D4 police station on Warren Avenue at the corner of Berkeley Street a few years ago, has won approval from the Boston Redevelopment Authority to construct a six-story, 40-unit building on six vacant parcels of land at 691 Massachusetts Ave., near Harrison Avenue, in the South End.

Urbanica plans to begin construction this winter, and the cost of the year-long project is estimated at $14 million.

The complex will include a variety of configurations – four one-bedroom and two two-bedroom “SoHo” units defined as small office/home office units; four studio-pluses, eight one-bedrooms, 16 one-plus bedrooms and four two-bedrooms. In addition there will be two penthouses, one with one bedroom and the other with two bedrooms.

Fifteen percent of the condos will be affordable. In addition, outdoor and underground parking will be provided for 30 cars.

For this project, Urbanica has created a limited liability company called Newhouse South End.

New Condo Building in Haymarket

A $40 million apartment building proposed for Haymarket is expected to win state approval today. Will this really happen and when... thoughts?

Sources tell the Herald that the Massachusetts Department of Transportation will allow Eastat Realty Capital to build a 78-unit apartment building with a ground-floor produce market on a state-owned lot overlooking the Rose Fitzgerald Kennedy Greenway.

Eastat’s five-story complex on a 29,400-square-foot parcel at the corner of Blackstone and North streets is one of four proposals that have been under consideration since the spring. The others are a $120 million Boston History Museum, a five-story building with art galleries or offices on the upper levels by DeNormandie Cos., and a six-story, 137,000-square-foot office building by the Gutierrez Co.