At least six developers are vying to remake the 18-acre site of the old Boston Edison power plant at Summer and First streets in South Boston. Plant owner Exelon Corp. just put the parcel up for sale, and plans for its redevelopment are still very much in flux.
Already, however, there is talk of remaking the site, which currently houses the New Boston Generating Station, into a grand mix of housing, commercial space, and whatnot. The parcel is too good to be true in many ways because of its location and because of the existing structures there. Per the Globe's Tim Logan: It's "waterfront property along the Reserved Channel, near the Summer Street Bridge to the Seaport District, and on the edge of booming South Boston. And some of the site — several huge buildings cobbled together over decades — could be preserved, with its brick walls and soaring arched windows along First Street."
To give a sense of just how big a redevelopment could be, consider the recent news about the fate of 185 Kneeland Street. That 5.5-acre address between Chinatown and South Station is slated to be redeveloped into some 2,000,000 square feet of new property, with housing likely a huge component. That's the square-footage equivalent of a new Hancock tower and then some. The Southie site is more than three times as large as 185 Kneeland. Stay tuned. Exelon told Logan it hopes to sell the property before the end of the year.
· South Boston Power Plant to Be Sold, Redeveloped [Globe]
· Downtown Boston Project Would Be Bigger Than the Hancock [Curbed Boston]