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Feb. 22, 2013

BRA Approves $200 Million Residential Tower in the West End

By Veronica Grecu, Associate Editor

A development team including AvalonBay Communities, Exclusive Real Estate, Goulston & Storrs and CBT Architects has received unanimous approval for a 38-story residential high rise planned for Boston’s West End neighborhood, on an empty site between TD Garden and the Charles River.

AvalonBay Communities’ original project was filed with the Boston Redevelopment Authority (BRA) in 2005. Back then it included 363 residential units—a mix of condominiums and rental apartments—in a 572,071-square-foot tower, 270 parking spaces and 7,794 square feet of retail space. Though the BRA voted in favor, the development had to be put on hold because of economic conditions, according to the Boston Herald.

Under the revised plans, the $200 million Nashua Street Residences will total 636,551 square feet of space and will offer 503 rental apartments ranging from studios to three-bedrooms, including 27 affordable housing units. As the North Station transit hub is located near the development, the number of parking spaces was reduced to 219 (with 503 storage spaces for bicycles). The new project will also feature 3,575 square feet of retail space, which is less than half of what the development team had previously planned.

One of the redesigned features at Nashua Street Residences is a two-story retail arcade that is meant to organize and enhance pedestrian access to North Station and the TD Garden. According to the Notice of Project Change that was submitted for approval in November 2012, the arcade will provide a welcoming atmosphere for public events and will improve the use of public transportation.

Construction at the Nashua Street Residences is slated for fall 2013 and the developers anticipate the creation of approximately 650 construction jobs and 15 to 20 permanent jobs. When completed, by the end of 2016, the development will be at a minimum LEED-certifiable level and will trigger an estimated $1,75 million in annual real estate taxes.

Rendering credits to CBT Architects

 

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