{"id":1004050040,"date":"2012-08-10T06:41:07","date_gmt":"2012-08-10T14:41:07","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=62217"},"modified":"2022-12-08T01:53:13","modified_gmt":"2022-12-08T09:53:13","slug":"stalled-615-million-project-seeking-approval-to-revitalize-downtown-crossing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/stalled-615-million-project-seeking-approval-to-revitalize-downtown-crossing\/","title":{"rendered":"Stalled $615 Million Project Seeking Approval to Revitalize Downtown Crossing"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Veronica Grecu, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\">Shortly after Mayor Thomas Menino announced that Chicago-based real estate investment and development firm Oxford Capital Group LLC plans to develop a 240-key hotel at 59 Temple Place in Downtown Crossing, the Boston Redevelopment Authority (BRA) reveals another investor\u2019s intention to revitalize the area.<\/p>\n<p style=\"text-align: justify\">Millennium Partners filed a <a href=\"https:\/\/www.bostonredevelopmentauthority.org\/DevelopmentProjects\/PipeDocs\/Millennium%20Tower%20and%20Burnham%20Building\/Millennium%20Tower%20and%20Burnham%20Building_NPC.pdf\">Notice of Project Change<\/a> (NPC) for the previously proposed Millennium Tower and Burnham Building, which was a mixed-use project of up to 1.25 million square feet with a 280-room hotel, a restaurant, up to 176 residential units, retail space, an underground parking space and a health club\/spa that was put on hold in 2008 because of the collapse of the financial markets.<\/p>\n<p style=\"text-align: justify\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/08\/millennium-partners.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-62281\" title=\"millennium partners\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/08\/millennium-partners.jpg\" alt=\"\" width=\"201\" height=\"300\" \/><\/a>According to the NPC, the developer has altered the original project to make it viable given the current market conditions. With a $615 million private investment and encompassing 1.2 million square feet, the revised mixed-use project will be located at the partially vacant site of the former Filene\u2019s Department Store on a parcel delimited by Washington, Franklin, Hawley and Summer Streets. The development will include 600 condominiums and rental units in the 625-feet tall Millennium Tower as well as 125,000 to 218,000 square feet of office space within the rehabilitated Burnham Building and 550 below-grade parking spaces of which up to 250 will be slated for public use. Also included in the project are a health club of 35,000 square feet and a 10,000-square-foot restaurant.<\/p>\n<p style=\"text-align: justify\">In order to maximize pedestrian access through a plaza between Hawley and Washington Streets, the development team will create a new automobile drop-off. Paving, landscape materials, signage and lighting will be coordinated to unify the drop-off with the entire plaza.<\/p>\n<p style=\"text-align: justify\">It is estimated that the project would generate around 600 construction jobs and, after completion, up to $5.5 million in real estate taxes annually and 2,300 permanent jobs. The development team includes Millennium Partners, Handel Architects, DLA Piper, Epsilon Associates, Howard\/Stein-Hudson Associates, Nitsch Engineering, WSP Flack + Kurtz, Haley &amp; Aldrich, RWDI, MacRostie Historic Advisors, and Suffolk Construction. According to the BRA, a community meeting will be held next week to review the project.<\/p>\n<p style=\"text-align: justify\"><em>Rendering courtesy of the Boston Redevelopment Authority<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shortly after Mayor Thomas Menino announced that Chicago-based real estate investment and development firm Oxford Capital Group LLC plans to develop a 240-key hotel at 59 Temple Place in Downtown Crossing, the Boston Redevelopment Authority (BRA) reveals another investor&rsquo;s intention to revitalize the area.<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21742],"tags":[1815],"class_list":["post-1004050040","post","type-post","status-publish","format-standard","hentry","category-boston","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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