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Mayor Menino Announces New Development Moving Forward: Berkeley Investments to Create Mixed Use Residential Building on Congress Street

Oct 20, 2011

Private investment / Total project cost: $17,500,000 Total square footage: 42,500 square feet Number of jobs: 23 construction jobs Housing: rental, 44 units A new mixed use residential development at 381 Congress Street will turn an existing 5-story warehouse in the Innovation District into 44 new housing units with ground floor retail. The BRA board unanimously approved the $17.5 million project proposed by Berkeley Investment Inc, the same developer responsible for FP3 an 8-story luxury loft development in Fort Point. The project will include 28 workforce units, which are smaller-than-market size with accessible rent price points, and 16 extended stay units.  The project’s smaller sized residences reflect the Mayor’s objectives to provide moderately priced, flexible and architecturally unique lodging for those who will contribute to the city’s innovation economy.  The approximately 35,000 square feet of housing is planned for the upper four floors of the building. Additionally, the project will include approximately 6,000 square feet of ground floor restaurant or retail space and a 1,200 square foot outdoor patio at the corner of Boston Wharf Road and Congress Street. Planned amenities include Zip Car or equivalent on the premises, bicycle storage, rooftop garden planters, and direct delivery from a community supported agriculture (CSA) service. The exterior of the building will be rehabilitated to reflect its historic character, and the interior will be renovated, blending classic 20th century architecture with contemporary finishes. The project architect is ADD Inc., and legal counsel is Goulston & Storrs. Construction is expected to break ground before the end of the year.

Related Tags

extended stay Housing mixed use private investment rental workforce housing 

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