BOSTON, MA – Consigli Construction Co., Inc. today joined Related Beal, a fully integrated real estate firm focused on development and investment opportunities in Boston to celebrate the groundbreaking for Parcel 1B, a mixed-use, transit-oriented development of a 239 unit, 100 percent affordable and workforce residential building. The mixed-use development in downtown
Boston’s Bulfinch Triangle will also contain a 220 room hotel, which Related Beal and Turnberry Associates announced will be a Courtyard® Marriott.
To honor the official start of this monumental project, Governor Baker and Mayor Walsh joined Related Beal and Consigli at the Parcel 1B site to celebrate the start of construction. With delivery of the Parcel 1B project projected for 2018, downtown Boston will soon realize its first new 100 percent affordable and workforce housing project in more than 25 years, and its first large scale workforce housing development under Mayor Martin J. Walsh’s housing plan entitled, “Changing City: Boston 2030,” which calls for the creation of 53,000 new residential units by 2030 – 44,000 specifically for workforce units. The development’s 239 residential units will be restricted to and available for individuals, couples and families with qualified incomes ranging from 30 percent Area Median Income (AMI) to up to 165 percent AMI. Additionally, 10 percent of the residences will be three-bedroom units providing much needed family housing in downtown Boston.
“The construction of affordable housing is a key driver of economic development, both in Boston and throughout the Commonwealth,” said Governor Baker. “This development, which showcases the power of mixed-income housing to transform vacant state-owned land, demonstrates our administration’s ongoing commitment to building stronger communities across the Commonwealth.”
“I congratulate Related Beal for reaching this significant milestone and thank them for their commitment to bringing 100% affordable and workforce housing to downtown Boston,” said Mayor Walsh. “Not only is this project a great achievement for the company, but it is a win for the people of Boston, with 239 units of affordable housing being added to the North Station area. This project serves as a great example of the types of transit-oriented, affordable housing opportunities we are looking to unlock for all of our families across the city.”
Kimberly Sherman Stamler, Chief Operating Officer of Related Beal said, “We are thrilled to celebrate this exciting milestone. Related Beal’s vision for workforce housing and a vibrant new hotel amenity in the heart of downtown Boston at Parcel 1B could only have been realized through the significant creative and collaborative effort with the City of Boston and the Commonwealth of Massachusetts. Related has a long-term commitment to affordable housing and we are proud to see the project take this step forward, enabling even more families and our City’s diverse workforce to live in downtown Boston.”
“Related Beal has been a large factor in the transformation that we see happening around Boston, so it has been extremely rewarding to partner with them this project in one of the city’s main gateways,” said Anthony Consigli, CEO of Consigli Construction Co., Inc. “We’re thrilled to work with such an innovative developer and thank Governor Charlie Baker and Mayor Martin Walsh for their trust and support as we take on this very exciting project.”
Designed by acclaimed CBT Architects, the mixed-use development at Parcel 1B will include a 14-story residential building totaling approximately 484,000-square-feet with street level retail and on-site parking. In addition, a 220-room Courtyard® Marriott hotel with 2,500 square feet of meeting space will be operated by Turnberry Associates.
Parcel 1B is located across the street from Lovejoy Wharf where Consigli is working with Related Beal to build 131 Beverly Street. After years of being closed, the North End Harborwalk under the Charlestown Bridge has reopened with a new pathway behind Lovejoy Wharf to the North Station area and Charles River Dam.