New Development on site of Anthony Pier 4
It’s official – New England Development and its partner, Hanover Co. of Houston, will start construction on the site of Anthony Pier 4 in Boston’s Seaport District next spring! The $170 million apartment and retail tower is the next addition to the bustling South Boston Waterfront neighborhood.
I’ve anxiously awaited this development since it was initially approved in 2005 but the economic slowdown put the breaks on for the last six years. New plans call for a 21-story tower that would include 357 apartments, bottom floor retail stores, and an underground parking garage next to the Institute of Contemporary Art. Rental rates in Boston are soaring and, although they once planned on building condos, apartments are more profitable and the site will not have any condo units (similar to the decision made by Atlantic Wharf this summer).
I’m disappointed by this decision as we really don’t have any condos available in the area. Park Lane is all apartments and FP3, the closest development, is almost entirely sold out.
Never having been to Anthony Pier 4 I thought I may have missed my chance but this doesn’t necessarily mean goodbye to the famous restaurant. Anthony Pier 4 will be replaced in the last phases of the development with one-acre public park but the developers might reopen the restaurant in another location on the property.
It’s an exciting time for the Seaport District and we’re glad to see that they are moving forward with the development. Stay tuned for details on which restaurants / shops they will be bringing to the area…