BOSTON — Berkshire Group, WS Development and Boston Global Investors (BGI) have begun construction on One Seaport Square, a three-acre mixed-use development located within the 23-acre Seaport Square. Seaport Square is the largest master-planned project in the city of Boston. According to The Boston Globe, One Seaport Square’s development costs will total roughly $600 million.
Upon completion, which is expected in 2017, the development will include two residential towers, named The Benjamin and VIA, constructed above 250,000 square feet of retail space across the towers’ first three floors.
“In our view, the Seaport District is an important growth area in Boston with its emphasis on residential, retail and commercial space all in one neighborhood,” says Steve Wood, partner and head of development of Berkshire Group. “With companies moving into the area and creating new employment opportunities, we expect Seaport Square will attract residents who desire urban living in the Seaport District in close proximity to both professional and entertainment options.”
Berkshire Group has partnered with BGI to own and develop the residential component of Seaport Square. WS Development will develop, own and manage the retail component of Seaport Square. One Seaport Square is bordered by Seaport Boulevard, Northern Avenue, Fan Pier Boulevard and Sleeper Street.
“One Seaport Square will be our largest project in Boston and within Seaport Square. It will set the tone for just how dynamic this new neighborhood will be in all categories: commercial, residential, shopping, dining and entertainment,” says John Hynes, CEO and managing partner of BGI. “We cannot wait to bring it to life and feel very fortunate to be partnered with Berkshire Group and WS Development on this development.”
Boston-based Elkus Manfredi Architects has designed The Benjamin and VIA to achieve LEED Silver certification. All apartments in The Benjamin and VIA are for lease only.
“With their glass structures, they are a new generation of modern architecture in the city of Boston,” says David Manfredi, founding principal of Elkus Manfredi Architects. “The retail floor architecture is lively, diverse modern and glassy so as to engage pedestrians and mirror the energy of food and retail. The residences are also very open and modern; their architecture connects them to the harbor and to the city.”
Plans for One Seaport Square include a total of 832 units with 354 apartment homes in The Benjamin, ranging from studios to three bedrooms, and 458 modern apartment homes in VIA, ranging from studios to three bedrooms. One Seaport Square will include 96 units that meet the city of Boston’s standards for affordable rent. VIA also includes 96 “innovation units,” which will be cost-effective studio and one-bedroom apartments with access to collaborative space.
The project also includes plans for Courthouse Square, a 17,000-square-foot, retail-lined open space between the two towers that will serve as a pedestrian link between the buildings, the MBTA Courthouse Station and the Moakley Federal Courthouse.
The Benjamin will include two courtyards: one offering views of the city skyline and a second south-facing courtyard that will offer a heated pool.
VIA will include outdoor lounges, a water feature, grilling areas and gardens. The properties will also have one acre of outdoor terrace space. Both The Benjamin and VIA aim to be pet-friendly buildings.
The Benjamin and VIA have plans for urban gardens, car charging stations, spaces for car-sharing and bike amenities. The buildings will also be smoke-free, use environmentally-safe cleaning supplies and practice waste efficiency with recycling and trash services.
In addition to the residential units, WS Development will develop, own and manage the 250,000 square feet of retail space throughout the first three floors of The Benjamin and VIA. Confirmed retailers at One Seaport Square include Equinox, an upscale fitness facility, which will be located on the third floor of The Benjamin. ShowPlace ICON Theatre at Seaport Square and Kings Bowl will be located within VIA. More announcements of retail tenants are still to come, according to WS Development.
Berkshire Group is a real estate investment management company that acquires, manages, finances and develops multifamily properties. Berkshire is based in Boston and has offices in Atlanta, New York, Baltimore, Dallas, Houston and San Francisco. Privately held, Berkshire managed more than $5.5 billion in assets on behalf of its institutional clients worldwide as of Dec. 31, 2013.
Boston Global Investors is a real estate development and consulting firm headquartered in Boston. BGI’s current project list includes Seaport Square; the redevelopment of United Technology Corp.’s 47-acre Rocketdyne facility within LA Warner Center in Los Angeles; and the $35 billion, 100 million-square-foot New Songdo City project in South Korea.
WS Development owns, manages and leases a portfolio of more than 85 properties totaling more than 20 million square feet, with an additional 4 million square feet under development.
— John Nelson