{"id":1004034511,"date":"2011-11-30T06:00:06","date_gmt":"2011-11-30T14:00:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004034511"},"modified":"2022-12-07T20:33:27","modified_gmt":"2022-12-08T04:33:27","slug":"suffolk-breaks-ground-on-220m-boston-residential-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/","title":{"rendered":"Suffolk Breaks Ground on $220M Boston Residential Tower"},"content":{"rendered":"<p><strong>November 30, 2011<\/strong><br \/>\n<em>By Nicholas Ziegler, News Editor<\/em><br \/>\n<a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004034512\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/113011-mp-iii-rendering-birds-eye-cropped\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg\" data-orig-size=\"676,533\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"113011 &#8211; MP III rendering birds eye cropped\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg?w=676\" class=\"alignright size-medium wp-image-1004034512\" title=\"113011 - MP III rendering birds eye cropped\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg\" alt=\"\" width=\"300\" height=\"236\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg 676w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg?resize=300,237 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Suffolk Construction has been busy in the city of Boston. After <a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/northeast\/bostons-92m-victor-apartments-break-ground\/\">beginning work on the 12-story, $92 million The Victor<\/a> two weeks ago and <a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/northeast\/suffolk-construction-awarded-contract-for-488-ksf-boston-residential-tower\/\">winning a contract for construction on the 488,000-square-foot The Kensington<\/a>, the firm has just started work on Millennium Place III in the city\u2019s Downtown Crossing neighborhood. The 15-story, 390,000-square-foot residential tower is slated to open in 2013.<\/p>\n<p>The $220 million project \u2013 which includes $135 million of hard construction costs \u2013 will feature 256 units along with 9,700 square feet of ground-floor retail and 125 below-grade parking spots. The building will occupy a full city block, spanning Washington Street, Avenue de Lafayette, Harrison Avenue Extension and Hayward Place.<\/p>\n<p>A new report by services firm Marcus &amp; Millichap shows that interest in Boston multi-family properties will remain high in the foreseeable future, as multiple factors \u2013 high interest rates, down-payment requirements exceeding 30 percent, the limiting of insured home loans \u2013 will limit sales of single-family properties in the urban core. Institutional buyers, then, are looking for multi-family buildings in the city with high upside potential. As the economy continues to expand, with the metro area expected to outperform the nation in general with regards to employment numbers, housing will become a major driving factor.<\/p>\n<p>The tower is the third and final phase of Millennium Partners\u2019 mixed-use campus in Downtown. The first two phases consists of the Ritz-Carlton Hotel and Towers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Suffolk Construction has been busy in Boston, breaking ground on the $220 million, 390,000-square-foot Millennium Place III residential tower in Downtown &#8212; its second groundbreaking project in two weeks. <\/p>\n","protected":false},"author":1201,"featured_media":1004034512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21752,21742,10],"tags":[],"class_list":["post-1004034511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-mixed-use","category-latest","category-northeast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Suffolk Breaks Ground on $220M Boston Residential Tower - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Suffolk Breaks Ground on $220M Boston Residential Tower\" \/>\n<meta property=\"og:description\" content=\"Suffolk Construction has been busy in Boston, breaking ground on the $220 million, 390,000-square-foot Millennium Place III residential tower in Downtown -- its second groundbreaking project in two weeks.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-11-30T14:00:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T04:33:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"676\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/\",\"name\":\"Suffolk Breaks Ground on $220M Boston Residential Tower - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg\",\"datePublished\":\"2011-11-30T14:00:06+00:00\",\"dateModified\":\"2022-12-08T04:33:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/ff3a837f33daecfcf8978b405eaae20c\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg\",\"width\":\"676\",\"height\":\"533\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Suffolk Breaks Ground on $220M Boston Residential Tower\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/ff3a837f33daecfcf8978b405eaae20c\",\"name\":\"Nicholas Ziegler\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/70e28229c24dc3cf14fac93ebb7647505c7519b301aa20c8f635957a4e8a8a66?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/70e28229c24dc3cf14fac93ebb7647505c7519b301aa20c8f635957a4e8a8a66?s=96&d=mm&r=g\",\"caption\":\"Nicholas Ziegler\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/nicholasziegler\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Suffolk Breaks Ground on $220M Boston Residential Tower - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/","og_locale":"en_US","og_type":"article","og_title":"Suffolk Breaks Ground on $220M Boston Residential Tower","og_description":"Suffolk Construction has been busy in Boston, breaking ground on the $220 million, 390,000-square-foot Millennium Place III residential tower in Downtown -- its second groundbreaking project in two weeks.","og_url":"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2011-11-30T14:00:06+00:00","article_modified_time":"2022-12-08T04:33:27+00:00","og_image":[{"width":676,"height":533,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg","type":"image\/jpeg"}],"author":"Nicholas Ziegler","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/","url":"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/","name":"Suffolk Breaks Ground on $220M Boston Residential Tower - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg","datePublished":"2011-11-30T14:00:06+00:00","dateModified":"2022-12-08T04:33:27+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/ff3a837f33daecfcf8978b405eaae20c"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg","width":"676","height":"533"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/suffolk-breaks-ground-on-220m-boston-residential-tower\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Suffolk Breaks Ground on $220M Boston Residential Tower"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/ff3a837f33daecfcf8978b405eaae20c","name":"Nicholas Ziegler","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/70e28229c24dc3cf14fac93ebb7647505c7519b301aa20c8f635957a4e8a8a66?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/70e28229c24dc3cf14fac93ebb7647505c7519b301aa20c8f635957a4e8a8a66?s=96&d=mm&r=g","caption":"Nicholas Ziegler"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/nicholasziegler\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/11\/113011-MP-III-rendering-birds-eye-cropped.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004034511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1201"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004034511"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004034511\/revisions"}],"predecessor-version":[{"id":1004619407,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004034511\/revisions\/1004619407"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004034512"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004034511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004034511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004034511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}