Local developer Raymond Properties has officially filed plans with the city to build two office towers. The towers, 42 and 52 stories respectively, would have a glass exterior and from the rendering above, look quite interesting and unique.
The plans would require the demolition of the massive garage standing on the site right now. The garage is really an eye sore and with the right development, the location aesthetics of the location would really be improved.
Along with the two office towers, the plans also include hotel, retail and residential buildings. The major hurdle for Raymond Properties is going to be convincing the city to sell the property next to the garage which currently houses the Boston Police department which would be required if he wants to build the larger of the two towers.
While many wonder how Raymond plans to obtain financing for this new Boston development when banks are hardly giving out loans. Raymond has stated that his financial partners, the International Brotherhood of Electrical Workers and Lewis Trust Group, are very stable and willing to lend once approvals are given.
Source: Boston.com
My Thoughts: I would love to see this development happen. That area is a no mans land right now and this development would bring life to the neighborhood and new Rose Kennedy Greenway. There is a new luxury apartment building already going up about two blocks further down towards the TD BankNorth Garden and more residential and retail space would be great. Given that this project is probably 12-18 months away from even getting final approvals, I think the completion date would be around 3-5 years which hopefully will give the economy plenty of time to turn itself around.
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