22-Story Residential Towers Slated For Seaport Boston

Thursday, December 12, 2013, 11:21am

By James Cronin

Banker & Tradesman Staff Writer

A joint venture led by Boston-based Berkshire Group plans to start construction on two 22-story towers with apartments and retail space in Boston's Seaport District in April.

The multifamily investor and developer paid $72 million to Seaport Square master developers Morgan Stanley and Boston Global Investors (BGI) for the Seaport Boulevard parcel.

The $600 million towers called One Seaport Square will include 832 luxury apartments above 260,000 square feet of retail space.

The new ownership group led by Berkshire includes BGI, the master developer of Seaport Square, which will own and develop the residential component of the project. WS Development will develop, own and manage the retail component of One Seaport Square.

The Boston Redevelopment Authority board of directors recently gave final approvals for the project. The project is slated to be completed in 2016.

"One Seaport Square will be our largest project in Boston and it is the keystone project for the Innovation District," John Hynes, BGI CEO and managing partner, said in a statement.

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22-Story Residential Towers Slated For Seaport Boston