The New York Times checks in with Jamestown, the Atlanta-based landlord that now owns—get this—15 percent of the buildings along Newbury Street. That's 28 in totem (the company's website alluringly refers to them as "The Newbury Line"), most of which Jamestown bought last October—and for which they have big plans.
Jamestown has brought in 10 new retailers, begun $4.7 million in renovations and plans to invest another $5 million in building upgrades in the next five years. The current construction will create 15,835 square feet of renovated retail space and 11 rental apartments for a total of 50 luxury residential units. While a lot of its work has been low-key, shoppers and Bostonians who lunch will likely have noticed Jamestown's redevelopment of the adjoining 234 and 236 Newbury, where a work has been under way for 10 months (and is expected to be finished this winter). 'Tis a good time to be doing such work along the tony drag, as Jamestown is not the only developer with big plans. There's the redevelopment of 4-6 Newbury, a garage, into luxury condos atop a Chanel store and, just generally, the buoyancy of the surrounding commercial market (not to mention wider Back Bay residential development). We imagine Atlanta doesn't have the same mojo.
· A Real Estate Company Finds a Boom in Boston's Back Bay [NY Times]
· Chanel No. 6: Details On New Newbury Street Condos [Curbed Boston]
· Meet the Hancock's New Neighbor: 33 Stories, 142 Apts. [Curbed Boston]