The Seaport District

Marissa Berardi and Brent Myers-Lawson

Proposed Development

• LEED Certified mixed-use space in seaport district, on the South Boston waterfront

Why Boston Now?

• Increase in Developments from last year • Growing economy • Investment returns expected to increase • Increase in job growth provides demandSouth Boston • 23.7% single males• 23.8% single females• Median age: 38 • Homes with kids: 19.5%

The Seaport District

• Where is it? – The South Boston

waterfront– Bordered by the fort

point channel and the Boston harbor

• Attractions – Museums, Cruises, BofA

pavillion, – Restaurant and bars,

Hotels

Why the Seaport District? • “Seaport Area: Atlantic Wharf, Fan Pier, and Liberty Wharf. After

years as an under-utilized neighborhood, the Boston waterfront is continuing to evolve. Today, Boston Harbor and the land that surrounds it is the subject of intensive planning, huge real estate development projects, and extensive debate both public and private over how to proceed. The way the waterfront is transformed will determine the look and feel of the city for the next century and beyond.”- fortpointchannelboston.com

• Mayor Menino has proclaimed the Seaport area the “Innovation District”

• Created for innovators and entrepreneurs• “The city’s most rapidly-changing neighborhood”• Good for locals and tourists alike !

Why Seaport Cont’d

• Cheaper office space is attracting businesses from financial district and other expensive downtown areas– Ex. Fish& Richardson

moved from State street building to One Marina park Drive

Existing Developments in Seaport

• Westin Waterfront, Seaport Hotel, Renaissance Waterfront Hotel

• Home of ICA • Restaurants- fine dining– Ex. Flour bakery second location– Sportello and Drink

Current Seaport Building

• Restaurants opening/recently opened: ~20 have opened or are soon to open in area– Smith and Wollensky to be part of new $500M

Atlantic Wharf skyscraper project on the waterfront nearby

– Barbara lynch and Joanne Chang have projects in the area

• Fallon, Hynes and other developers bringing $6B worth of office buildings, residences, hotels, and retail

Similar Developments

• Atlantic Wharf tower- Mixed-use – Condos for $425 PSF

• Seaport Square – $3B , 300,000 sq ft mixed-use development area with over 6M sq ft of residential, retail, office, hotel, civic and cultural uses, as well as an Innovation Center.

• Waterside Place- 234 rental apartment units, ~ 70,000 square feet of retail space, a grocery store and pharmacy, approximately 185 above-grade parking spaces and a 14,000 square-foot Innovation Center

• Liberty Wharf complex- $60M three building complex with restaurants, outdoor plaza,

Similar Development PricingFP3 Boston Lofts • Address

368 CongressBoston, MA 02110

• Price From:• Condos• Rentals• Studios:• $350,000• $1,900• One Bedroom:• $400,000• $2,500• Two Bedroom:• $525,000• $4,000

• Unit Features: Arclinea KitchensHacin + Associates BathroomsHardwood FloorsLarge WindowsCentral Air ConditioningOutdoor Space

• Price Beds/Baths Size (SF)Unit Level

• $369,000 0 / 1.0 6604

• $395,000 0 / 1.0 7473

• $479,000 1 / 1.0 8574

• $515,000 1 / 2.0 1,0193

• $699,000 2 / 2.0 1,3744

• $899,000 3 / 4.5 1,8044

• $1,850,000 2 / 2.5 2,1787

Similar Development Pricing Cont’d

Address: 319 A Street, Boston, Ma

• Property Type: Office • Stories : 5• Typical Floor: 9,150 SF • Building Size: 45,750 • Total Space Available: 22,831sf• Rent/SF/Yr: $20.00

Example• Floor: 1st • Available space: 3,100 SF-5,200 SF • Rent/SF $20.00/SF/Yr • Vacant • Negotiable • Office

Site • Channel Wharf Condominums: Fully Permitted Project• 401 W 1st St, South Boston, MA 02127• Price:$5,400,000• Lot Size:32,315 SF• Property Type:Land• Property Sub-type:Multifamily (land)• Features:

– Electricity/Power– Water– Telephone– Cable– Gas/Propane

• Find Out More...• Last Verified 3/1/2011Listing ID 16740534• 1 Lot Available• Lot 1• Price:$5,400,000• Lot Size:32,315 SF• Price/SF:$167.11• Lot Type:Multifamily (land)• Commission Split:2.5%• Description• Welcome to "Channel Wharf Condominiums" a fully permitted project with

45 Residential units in two buildings & 68 parking spaces plus 7,000 sq ft street level retail. Level lot ready to build today! Water views from top levels of this five story permitted project. Drawings and plans with detail included in price available on CD anytime

• Flat and ready to build

• http://www.loopnet.com/Listing/16740534/401-W-1st-St-South-Boston-MA/

Sites Visited:

• http://www.innovationdistrict.org/tag/waterside-place/

• http://www.innovationdistrict.org/the-latest/• http://www.boston-discovery-guide.com/sout

h-boston-waterfront-hotels.html• http://www.masshightech.com/stories/2010/

10/18/daily48-Bostons-innovation-district-to-add-two-mixed-use-projects.html