Related Beal holds topping off at Parcel 1B

Boston, MA Related Beal topped off at Parcel 1B, marking the completion of steel for the last floor of the mixed-use, 100% affordable and workforce housing development with a 220-room Courtyard Marriott hotel. This significant milestone brings downtown Boston one step closer to welcoming its first dedicated affordable building in more than 25 years.

“Related Beal’s vision to provide needed affordable and workforce housing in a mixed-use setting, and to add to the fabric of the North Station area at Parcel 1B is becoming reality,” said Kimberly Sherman Stamler, president of Related Beal. “Our company’s heritage in affordable housing influences the work that we do and this milestone is a major stride to increase housing opportunities downtown.”

Ideally located in downtown’s Bulfinch Triangle, Parcel 1B’s residents will live at the nexus of The Greenway, Beacon Hill, and the North End. The development is steps from the TD Garden and North Station’s Amtrak and MBTA subway lines, as well as proximate to an abundance of stores, restaurants, bars and cafes.

Designed by CBT Architects, the 484,000 s/f, transit-oriented development is 14 stories with 239 affordable and workforce units, 10,000 s/f of street level retail, 220 parking spaces, and a Courtyard Marriott hotel with 2,500 s/f of meeting space that will be operated by Turnberry Associates. The development’s 239 units will be restricted to and available for individuals, couples and families with qualified incomes ranging from 30%t Area Median Income (AMI) to up to 165% AMI.  Additionally, 10% of the residences will be three-bedroom units providing much needed family housing in downtown Boston.   

Related Beal Construction and Consigli Construction Co. are managing the development’s construction, which is scheduled for completion in 2018 and targeting LEED Silver certification. Parcel 1B creates 500 construction jobs and about 105-120 permanent jobs.

Related Beal partnered with various agencies including the city of Boston, the Boston Planning & Development Authority, the Boston Department of Neighborhood Development, MassDevelopment, the Massachusetts Department of Housing and Community Development, the Massachusetts Department of Transportation, and the Federal Highway Administration, among others, to make Parcel 1B a reality. Governor Baker, mayor Walsh and undersecretary Kornegay joined Related Beal at the development’s groundbreaking in February noting its monumental value to Boston, its workforce and its residents.

Parcel 1B is located across the street from Lovejoy Wharf where Related Beal reimagined 160 North Washington St. for Converse’s new headquarters and the 131 Beverly St. residences, both with waterfront retail. After years of being closed, the North End Harborwalk under the Charlestown Bridge has reopened with a new pathway at Lovejoy Wharf to the North Station area and Charles River Dam.

Related Beal is a division of Related Companies, one of the largest owners of affordable housing in the country that has developed or acquired over 55,000 affordable and workforce units.