Boston, MA Leggat McCall Properties along with Bentall Kennedy on behalf of its U.S. core fund, and development advisor Bozzuto Development Co., received approval from the Boston Planning and Development Agency (BPDA) for their 3.1-acre mixed-use project in the South End.
The Harrison/Albany project will bring 650 housing units, 19,700 s/f of retail and cultural space, 76,800 s/f of office space, and open space to the South End neighborhood. Approximately 5% of the retail space will be designated as cultural and affordable commercial space. Working with the city and community, the development team will identify the best application for this space and ideas under consideration include gallery and ‘maker’ spaces, and a black box theatre. This project includes 76,800 s/f of new and renovated office space within the Gambro office building, the design of which, by CBT Architects, will complement buildings in the neighborhood.
Also, 35% of the site will make use of open space, including publicly accessible green space and pedestrian connections with significant enhancements to the sidewalk, lighting, and landscaping.
“We thank the South End community for their input and participation throughout this process. We look forward to adding neighborhood restaurants, retail, and cultural activities along with a new public park, to the Harrison Avenue corridor,” said Bill Gause, executive vice president at Leggat McCall.
The building will target the Silver Level under the Leadership in Energy and Environmental Design (LEED).
After multiple Impact Advisory Group (IAG) meetings and continued outreach to the community and neighbors over the course of the last several months, the development team added significant on and off-site public benefits, focused on improvements to Blackstone and Franklin parks, and neighborhood programs that support, education, arts, homelessness, public infrastructure, and safety and security.
The development team will make additional mitigation payments to the city of Boston to improve the surrounding infrastructure, as well as traffic improvements. The housing program will include an on-site affordable component, distributed over the three buildings, and a portion of the affordable units will be reserved for working artists. The team will also make a substantial investment to the city’s housing fund.
“This project will create ample employment and economic opportunities, including approximately 1,350 construction jobs and 290 new permanent jobs, and generate some $30 million in property taxes over the first 10 years after completion,” said Marty Standiford, senior vice president at Bentall Kennedy.
Founded in 1965, Leggat McCall Properties is a leading real estate owner and developer, as well as service provider to a corporate, educational, health-care, and other clients in the Greater Boston Area. Leggat McCall Properties has acquired and developed more than 10 million s/f of properties, with an aggregate value in excess of $3 billion. The company specializes in managing development and construction risk, and transforming complex and challenging real estate projects into stable, institutional- quality assets.
Bentall Kennedy, a Sun Life Investment Management company, is one of the largest global real estate investment advisors and one of North America’s foremost providers of real estate services. Bentall Kennedy serves the interests of 500 institutional clients and investors managing approximately $34 billion of assets with expertise in office, retail, industrial and multi-residential assets throughout Canada and the U.S.
The Bozzuto Group is an experiential real estate company that is continually celebrated for its developments, customer service and workplace culture. With an expertise in homebuilding, multifamily development, construction and management for itself and its clients, Bozzuto is devoted to crafting extraordinary experiences. This commitment is applied to creating communities that mix belonging and inspiration with the promise of adventure and discovery. Founded in 1988, Bozzuto has developed, acquired and built more than 42,000 homes and apartments. Currently, it manages more than 60,000 apartments and two million s/f of retail space along the East Coast between Miami and Boston, in the Northeast and Chicago.