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RELATED BEAL LAUNCHES CONGRESS SQUARE REDEVELOPMENT IN BOSTON

BOSTON — Related Beal has launched Congress Square, formerly known as The Block on Congress, a redevelopment and reinvention of an entire city block in downtown Boston. Related Fund Management acquired Congress Square from a Fidelity entity in 2013. The five-building portfolio consists of approximately 343,000 square feet and includes 40 Water St., 68 Devonshire St., 19 Congress St., 15 Congress St. and 54 Devonshire St. The project includes the repositioning and development of a 24-hour mixed-used environment offering office, residential, hotel, restaurant and retail space. Additionally, the project plans call for the creation and activation of Quaker Lane, which will bisect the property and connect Post Office Square to Faneuil Hall. Related Beal has engaged Arrowstreet to serve as architect and redesign the existing buildings into the new project. The developer has also selected CBRE/Grossman Retail Advisors to lead all retail leasing efforts and JLL as the brokerage firm for the project’s office space 40 Water St. The redevelopment office space will be available for occupancy in early 2016. Retail opportunities will be available for occupancy in fall 2015.

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