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China's Two Biggest Insurers Now Own Most of Pier 4 Project

Who says Boston ain't a world-class city? 'Cause it is. Case in a point: Tishman Speyer, the ginormous Manhattan-based concern that is developing two buildings at Pier 4 in the Seaport District, has taken on two ginormous-er partners for the project.

The Wall Street Journal is reporting that China Life Insurance Group Co. and Ping An Insurance Co., the two biggest insurers in China, are taking a majority stake in the project. The exact amount of that stake is unknown, but it's thought to be at least 66 percent, with each firm taking one-third (and Tishman Speyer, which also controls landmarks such as the Chrysler Building and Rockefeller Center, keeping the rest).

The Pier 4 project is due to include a 13-story office building as well as a nine-story condo with 100 units. The whole shebang, rendered starkly above, is being designed by Diller Scofidio & Renfro of New York busy, busy Boston firm Elkus Manfredi. Stay tuned.
· Boston Project Draws Chinese Insurance Firms' First U.S. Investments [WSJ]
· Rockefeller Center Owner to Plant Condos on Pier 4 Site [Curbed Boston]
· How Boston's Busiest Architects Are Changing Their City [Curbed Boston]

Pier 4

140 Northern Avenue, Boston, MA