Tishman Speyer, one of the world's leading developers, owners, operators and asset managers of first-class real estate, released the rendering of what will be the second and final phase of the firm's Pier 4 project in the city's Seaport District. The waterfront residential building has been designed by international architect SHoP in collaboration with local firm CBT.
The planned nine-story, 100-unit luxury condominium building will sit on a reconstructed pier facing the Boston Seaport at the former Anthony's Pier 4 Restaurant location. Other project components will be a 13-story, 373,000 s/f commercial building and a two-level below-grade parking facility. Both buildings will include ground floor retail/restaurant space, and the site plan also includes a new one-acre public park and a half-acre public plaza. Tishman Speyer, which develops and operates properties to meet high sustainability standards all over the world, expects to seek LEED gold certification for the project.
Construction is scheduled to begin in the fourth quarter of 2015, with planned completion of the commercial building scheduled for late 2017 and the residential building in early2018.
"I called on the development community to be bold and strive to deliver the most creative designs for buildings rising throughout our city, and I'm pleased to see the team at Tishman Speyer take that message to heart," said mayor Martin Walsh. "For decades, Anthony's Pier 4 was an iconic restaurant in Boston, and the site deserves to be a signature destination once again. Tishman Speyer's Pier 4 project will be a fitting gateway to the new waterfront."
Tishman Speyer president and Co-CEO Rob Speyer said, "Our goal at Pier 4 is to create the brightest jewel of the Boston waterfront. This will be a project entirely worthy of one of the world's great cities. It will be a magnet for new residents and new businesses, and the local community will be justly proud of it."
Formerly cut off from the rest of downtown by the elevated highway and Big Dig construction, the Seaport District is located adjacent to the Financial District. It has become the epicenter of new development in the city. Its waterfront location, convenient access to transportation (rail, highway and airport) and existing yet growing amenity base are drawing commercial space users and residential buyers and renters in large numbers.
Founded in 1978, Tishman Speyer is one of the world's leading developers, owners, operators, and fund managers of first-class real estate. Active across North America, Europe, South America and Asia, Tishman Speyer is relied upon by many of the world's most prestigious corporations to meet their office space needs. As of March 31, the firm had acquired, developed and/or managed a portfolio of 133.8 million s/f with a total value of approximately $73 billion. Signature assets include New York's Rockefeller Center and Chrysler Center, São Paulo's Torre Norte, Ventura Corporate Towers in Rio de Janeiro and OpernTurm in Frankfurt. Tishman Speyer also has projects at different stages of development currently in Atlanta, Brasilia, Chengdu, Frankfurt, Gurgaon, Hyderabad, Paris, Rio de Janeiro, San Francisco, São Paulo, Shanghai and Suzhou.