John Drew, whose development company built projects such as the Boston World Trade Center complex and the Seaport Hotel, has announced that the long delayed construction of a mixed residential and commercial project on Congress Street in South Boston will begin in the Spring of 2012. The project’s 236 apartments and retail stores will help catalyze the area’s development. The combined residential/commercial build strategy ensures daily activity and therefore confidence among potential retailers and restaurants that there will be sufficient business in the area, in turn sparking new development.
Although much growth is expected over the next few years in the area that Drew is targeting, it is certainly not devoid of life at present. Luxury condominium buildings in the area are highly sought after, such as the lofts at 25 Channel Center. Mayor Menino spoke promisingly about the South Boston Waterfront area, noting that 70 companies have moved to the area over the past few years, bringing 2,000 jobs with them. Menino added that he only thinks the area will prosper further, mentioning the popularity of many area restaurants.
If you would like more information regarding real estate in Boston, please contact CL Waterfront Properties today!
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