Chiofaro Floats Tax Break Idea
Boston – The Boston Redevelopment Authority recently recommended that the city increase the height and density that current zoning allows around the Boston Harbor Garage. This meant that Chiofaro Co. CEO Don Chiofaro would be allowed to build a 900,000sf project at the site, not the $1 billion, 1.3 millionsf two-tower mixed-use complex Chiofaro has been planning, according to BRA’s Nick Martin. So Chiofaro has floated the idea of the city granting him a tax break.
Eight years ago, Chiofaro and his partners at Prudential paid $155 million for the 1,400-car garage overlooking Boston Harbor. Ever since, he’s been fine-tuning his plans to redevelop the rare site. But until a formal proposal is presented to the BRA, it’s premature for the authority to discuss the tax relief.
It has been discussed informally, as these matters often are, and must be seriously considered when the time is right, Martin says.
BRA Approves Davis Plan
Boston – The Davis Co. won BRA approval on its amended plan for the final phase of the New Charlesview Residences. The $35 million plan, designed by architects from Cube 3 Studio, calls for up to 88 home ownership units at 180 Telford Ave. in Allston-Brighton.
It’s the latest phase in a long-term plan to build 340 homes to replace the old Charlesview public housing project on a corner adjacent to the Harvard Business School campus.
TCB to Begin Multifamily Projects
Stull and Lee Architect
Roxbury, MA – The Community Builders (TCB) won BRA approval to build the $12 million Clarion, a 38-unit multifamily rental building, and a two-family home along Blue Hill Avenue in Roxbury designed by architecture firm Stull and Lee. TCB hopes for a fall construction start with completion slated for winter 2016.
Harbinger Plans Development
Boston – Harbinger Development won tentative designation to develop a 405-room hotel, 6,500sf of restaurant/ retail space, a 4,000sf function space, and an indoor pool at the Boston Marine Industrial Park. Harbinger is in talks with Hilton Worldwide to operate the hotel. Perkins+Will is the project architect.
Harbinger has developed the Aloft and Element across from the Boston Convention & Exhibition Center and is planning on a 70-year ground lease with EDIC for its new project.
JW Plans Lewis Wharf Hotel
Boston – JW Capital filed a plan with the city to build a $260 million, 277-key luxury hotel on Lewis Wharf downtown with parking and outdoor public green space. If the developer gets a green light from the city, initial site work could start in the second quarter of 2017, followed by 36 months of construction.