Developer Boston Properties has agreed to pay $3 million into a preservation fund and a further $3 million into a Boston affordable-housing fund to further its plans to build a 1.26 million-square-foot project on and around Back Bay Station.
Six million might seem a little steep. But recall that the Old South Church—which led a charge against the project’s potential impact on the surrounding area, particularly from expected shadows—had wanted $19 million to mitigate such effects (including $4 million for the church).
Boston Properties pushed back, and the city brokered a deal after delaying an October decision on the project, which would include one tower stretching to 364 feet.
The $6 million handshake arrived on the eve of a November 16 vote on the development by the Boston Planning and Development Agency. Stay tuned.