The developer behind the redevelopment of the Government Center Garage in downtown Boston has decided to convert 118 apartments in the project’s 45-story, 486-unit rental tower into 55 condos instead.
The shift from rentals to for-sale units is the latest in a growing trend in Boston development as rents (kind of) plateau amid an apartment-building boom and the city’s condo market remains hot, hot, hot.
Part of the South End’s Ink Block complex that was supposed to be all rentals became partly condo; and the developer of Lovejoy Wharf, where the West End meets the North End, decided on condos rather than rentals right before the project’s debut (it was always up in the air, pending market conditions).
As for the Government Center Garage conversion—a.k.a. Bulfinch Crossing—it’s due to have 812 residential units total as well as 196 hotel rooms, 1.15 million square feet of office space, and 85,000 square feet of retail
Developer HYM Investment Group expects to wrap construction by 2020.
- Developer of 45-story tower changes plans, will convert some apartments into condos [Globe]
- Bulfinch Crossing: Fresh renderings of the six-building mega-project [Curbed Boston]
- Lovejoy Wharf sales now underway: $750,000 and way up [Curbed Boston]
- Here are the prices for the South End's new Siena condo [Curbed Boston]
- Has your Boston rent come down? [Curbed Boston]
- Boston’s 25 most expensive homes for sale, mapped [Curbed Boston]