May 13, 2016 | Blau Journal
Global real estate firm Hines and Gemdale Properties & Investment Corporation Limited(“Gemdale PI”), today announced a new joint venture to redevelop Boston’s South Station into a transportation hub and mixed-use complex. The first phase of this transformational project will include the tallest building in Boston’s financial district and fourth-tallest building in Massachusetts.
The project will become a part of, and rise above, South Station. Since first constructed in 1898, South Station has grown to be a vital multimodal transportation hub, serving over 152,000 passengers daily while providing access to the MBTA Red Line and Silver Line, MBTA Commuter Rail, AMTRAK, and multiple bus lines.
The first phase of this development consists of a 51-story, mixed-use office and residential tower. The first 26 floors of the tower, starting 9 stories above ground, will feature state-of-the-art commercial office space, while the upper 16 floors will feature residential condominium units offering panoramic views of the city and Boston Harbor. Phase one will also include 530 parking spaces, along with the expansion of the South Station bus terminal.
The Blue Vault Summit could not have been more perfectly timed. This gathering of the Broker Dealer and Sponsor communities provided insightful and open discussion from several vantage points. These conversations are paramount, especially in a time of significant regulatory change.