Watermark Seaport Project Adds to the Development Wave in Boston’s Innovation District

By Veronica Grecu, Associate Editor

According to an official statement issued a few days ago, a 14-story residential tower will be developed in South Boston by a joint venture between Skanska USA Commercial Development and Twining Properties.

The new residential tower will take shape on Block K of Seaport Square in Boston’s Innovation District, a parcel located on the southeast corner of Seaport Boulevard and Boston Wharf Road that, up until last month, was owned by Boston Global Investors and Morgan Stanley, the main developers of the Seaport Square master project. As mentioned by the Boston Herald, Skanska USA Commercial Development and Twining Properties (assisted by Cushman & Wakefield Sonnenblick Goldman) paid $18.6 million for the one-acre plus parcel.

Designed by New York-based architects Kohn Pedersen Fox Associates, Watermark Seaport will be part of the larger 25-acre Seaport Square plan and will include more than 300 apartment units and 25,000 square feet of ground level retail space targeting a LEED Gold certification.

According to Shawn Hurley, executive vice president and regional manager of Skanska USA Commercial Development in Boston, the new mixed-use development will allow for the creation of a dynamic neighborhood where people will enjoy living, working and playing. Watermark Seaport will serve as a gateway between the vibrant Fort Point Community and the 25-acre Seaport Square and the waterfront with a combination of housing, retail, restaurant and community space.

Twining Properties’ presence at Seaport Square dates back to 2007, when the company offered counseling to global financial services firm Morgan Stanley during the master planning and approvals phase of the 2.85 million square foot residential project. The joint venture with Skanska USA Commercial Development will start in the first quarter of 2013 and will be among the first projects to break ground in the Seaport Square project.