Waterside Place, a $600 million mixed-use development project in Boston’s Seaport District has slightly shifted its plans for Seaport District condos & retail space. Located at the intersection of D Street and Congress Street along Boston’s waterfront in the Seaport District, Waterside Place had original plans for a 640,000 sq ft retail component, 300 room hotel, and over 200 Seaport District condos in a 19 story building.
Plans for the future of Waterside Place were rumored to include two large retail stores, a large grocery store, a variety of restaurants & shops in addition to the residential & hotel components of the project. The Developer of this Waterside Place Seaport District development announced yesterday that he was going to shift his focus to less retail and more residential, further changing his residential plans from Seaport District condos into Seaport District apartments.
According to the Boston Globe today Developer John Drew said, “The large retail mall concept is not workable in this environment, and it’s not just a question of the moment, but it’s something that’s going to stay this way for a while. We’ve got to think about the development in a different way.”
Waterside Place will be located on the stretch of land that stretches North to South from the Seaport Hotel and the World Trade Centers to Summer Street, and one block up from the Convention Center, which is mostly owned by Massport because it sits over the Mass Turnpike and MBTA property.
Although there are still plans for a grocery store & pharmacy at Waterside Place in the Seaport District, Drew intends to shift to more residences because of the difficulty in opening retail stores during a recession. In addition, the proposed project for 200 Seaport District condos has also shifted to focus on more Seaport District apartments.
It’s great to see the Seaport District development & progress moving forward. It’s location on the waterfront and emergence of new retail, hotels, and restaurants will ultimately make this area of Boston one of the most desirable places to live. Designs for Waterfront Place plan to take full advantage of this great Seaport District waterfront location with condo towers offering full views of the water.
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Source: Boston Globe