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Time! Developer Splashes Cold Water on Seaport Apartments

Wha? This isn't suppose to happen in build-crazy Boston! The lead developer of Seaport Square has called "a timeout" on the plans for 750 luxury apartments there. John Hynes says that there is so much interest from office tenants now for the planned building across from the John Joseph Moakley Courthouse that it might be time to reconsider the units that leading national apartment landlord AvalonBay wants to plunk there (AvalonBay is part of a partnership led by Hynes). Recall, Hynes and co. offered Seaport Square as the perfect place for Google to relocate to during its dust-up with Cambridge over expansion at Kendall Square in February and March. So office tenants are definitely on the brain.

Still, Hynes tells The Herald's Greg Turner that he has not ruled out AvalonBay's plans and may as yet carve out an entire building for more apartments (though it may be AvalonBay that just wants out altogether, regardless of any modifications). These apartments would have company, of course, throughout Boston. In Seaport Square alone, there's the planned 300-unit Watermark Seaport, including 25,000 square feet of retail at the bottom. AvalonBay, for its part, is already planning about town Avalon Exeter, a $100 million, 28-story tower in Back Bay; a $125 million, 404-unit tower at 45 Stuart Street; and a 37-story, 375-unit tower by TD Garden. But should this timeout at the Seaport turn into a forfeit, it would definitely stand athwart the trend in Boston right now.

· ‘Timeout’ Called on Plan for Seaport Sq. Towers [Herald]
· AvalonBay Cools to Hynes, Seaport Square Deal [Biz Journal]
· Seaport Developer Woos Google as Facebook Looks in Kendall [Curbed Boston]
· World Trade Center Builder Behind New Seaport District Tower [Curbed Boston]
· The Year of the Shovel: Hub Development in 2011 [Curbed Boston]
· Rent Check! Boston Apartment Construction Booming [Curbed Boston]

Watermark Seaport

Seaport Square, Boston, MA