Greystar Real Estate Partners announces mixed-use project in Boston, US

WCN Editorial Team 23 Jan 2020 NORTH AMERICA BUILDINGS

US-based Greystar Real Estate Partners (Greystar) has announced its Class-A mixed-use development project in Boston, US.

The real estate firm has purchased 212 Stuart Street for the project, which is said to be the company’s first major ground-up development in Boston.

The 19-storey mixed-use development will feature 126 residential units and ground-floor retail space along with 149,940 gross ft² of prime retail and multifamily residential space.

Located between Arlington and Charles Streets at the intersection of Back Bay and Bay Village, the project site is near the 34 million ft² of Class-A office space.

The development also has access to retail destinations that include the Prudential Center, Copley Place malls and Newbury and Boylston Streets.

Greystar New England and New York development projects managing director Gary Kerr said: “This acquisition gives us access to two of Boston’s most desirable neighbourhoods and compliments our expanding portfolio in the Northeast.

“With the project’s preeminent location, this was a particularly attractive development opportunity for us.

“Boston is the nation’s leading city for life science and high tech professions and Greystar aims to provide a technology-friendly property with a modern look and luxurious feel that meets the needs of this dynamic city’s residents.”

The new mixed-use development will include one- and two-bedroom floor plans and three-bedroom penthouses ranging in size from approximately 500 to more than 2,100ft².

The development will feature a fully equipped gymnasium, bike storage, lounge, library, terrace and the residents will also have access to high-speed Internet.

The project is scheduled to break ground in January and slated to be completed in early 2022.

Greystar said that the project site was acquired with full project permits and approvals from the Boston Planning & Development Agency.

Höweler + Yoon and Sasaki Associates have designed the new project while Consigli Construction will be responsible for the construction.

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Rendering of the mixed-use development project in Boston. (Credit: Business Wire)

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