The 18-acre site of the old Boston Edison power plant at Summer and First streets in South Boston traded in April for $24,250,000.
Now buyers Hilco Global and Redgate are openly talking about what they would like to do with the vast expanse, which has the potential to become one of the biggest new development projects in a Boston seemingly full of them right now.
Tentative plans include office space, a hotel, and housing. It’s not yet clear how much housing or office space would go up, nor how big the hotel would be. What is clear is that Hilco and Redgate intend to demolish some buildings at the site, including the main power plant building. It has "no redeeming value," according to a Redgate principal (quoted in Banker & Tradesman).
The developers plan to file formal dimensions with the sexily renamed Boston Planning & Redevelopment Agency early next year. Stay tuned.
- Meet Boston's Next Massive Development: 18 Acres in Southie [Curbed Boston]
- One Charlestown development set to add 2,100 apartments to neighborhood [Curbed Boston]