Related Beal, Consigli Construction and Arrowstreet place final beam at 40 Water St. redevelopment

Boston, MA The final beam has been placed at 40 Water St., the centerpiece of Congress Sq., Related Beal’s redevelopment of the former Fidelity Investment headquarters. Set at the intersections of Congress, Water and Devonshire Sts., Congress Sq. will create a 24-hour mixed-use environment connecting Government Center, Faneuil Hall, Post Office Sq. and Downtown Crossing.

The building at 40 Water St. features a six and a half story glass curtainwall addition that will be a modern jewel box on top of the building, which features more than 320,000 s/f of class A office space, a double-height lobby, and a new single modern core. Related Beal is executing this best-in-class preservation of the landmarked property to include efficient and versatile floor plates, active rooftops, and retail/restaurant space on the lower levels and ground floor.

The new design maintains the property’s best attributes and historic architecture while functioning as an efficient, modern building.

The redevelopment plan for Congress Sq. includes office, residential, hospitality, and more than 43,000 s/f of retail space, as well as the transformation of Quaker Ln. into a pedestrian-oriented food and beverage destination lined with boutiques and cafes. Related Beal performed extensive research into the block’s historic character and discovered that the location was referred to as Congress Sq. when it was first constructed between 1899 and 1921. 40 Water St. is under construction by Related Beal Construction and Consigli Construction Co. and Arrowstreet is the architect.

Related Beal is a fully integrated real estate firm focused on development opportunities in Boston and its surrounding areas. Related Beal leverages a national real estate platform with expertise across all asset classes and storied local experience in residential, commercial, hospitality and life sciences development, property management and investment. Related Beal has developed, and is undertaking the development of, some of the most recognized buildings in the area including The Clarendon, One Back Bay, the Quinzani Bakery site, Converse’s new world headquarters at Lovejoy Wharf and Congress Sq.