Skanska USA Investing in Boston Multifamily Tower

By Jeffrey Steele, Contributing Writer

Boston—Skanska USA Commercial Development has invested $26 million in a new multifamily tower to be developed in Boston. Skanska is to develop and build the new 17-story residential building.

The residential tower will target LEED Gold Certification and will offer 212 units, as well as retail space and two levels of parking. Construction will commence next month, with substantial completion slated for the fourth quarter 2017.

A joint venture between Skanska USA Commercial Development and Prudential Real Estate Investors has awarded a contract for $88 million to construction manager Skanska USA Building, which specializes in building construction. That amount will be included in the order bookings for Skanska USA Building for the fourth quarter of this year.

Based in New York City, Skanska USA is one of the leading development and construction companies in the country, and features four business units. They are Skanska USA Building; Skanska USA Civil, specializing in civil infrastructure; Skanska Infrastructure Development North America, which develops public-private partnerships; and Skanska USA Commercial Development, developing commercial projects in select U.S. markets.