Tuesday, May 10, 2011

City Turns Down Residential Project at 399 Congress St.

I'm personally very disappointed to hear this. The BRA has frequently argued that the market will not support residential development in order to push more office space in Fort Point.

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City wants builder to stick with hotel plan
By Thomas Grillo
Monday, May 9, 2011

The city has given a thumbs down to a Boston developer’s plan to switch a proposed $100 million hotel at 399 Congress St. to luxury apartments.

Boston Redevelopment Authority officials have told Madison Properties that construction of apartments on the Seaport parking lot is “not appropriate.” The city continues to support development of a 502-room hotel across from the Boston Convention & Exhibition Center. A source said Madison has been unable to get hotel financing.

But Jon Seward, a member of the Seaport Alliance for Neighborhood Design, said the consensus in Fort Point is for more housing. “Additional residential development is good for the overall mix of the neighborhood,” he said. “It would be another way to attract additional commercial and retail in the district.”


http://www.bostonherald.com/business/real_estate/view/2011_0509city_wants_builder_to_stick_with_hotel_plan/srvc=home&position=also

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