Related Beal filed a letter of intent Monday with the Boston Planning & Development Agency for a 1.1M SF mixed-use development next to the canceled GE site. Related, which bought the 6.5- acre 244-284 A St. property for $218M in May, proposed a three-building complex, Related Beal President Kimberly Sherman Stamler wrote in the LOI. The project would consist of:
- a 366K SF, 180-foot-tall residential building.
- a 334K SF, 180-foot-tall office building.
- a 400K SF, 123-foot-tall lab/research and development building.
The ground levels of each building are expected to feature public uses and the overall project will incorporate storm-resilient design.
“These open spaces will achieve the dual goals of being both accessible as well as adaptive and resilient, and will provide meaningful equitable and public connections within Fort Point, to the Harborwalk and beyond,” Stamler wrote.
The proposal is scaled down from an earlier four-building plan, and the developer plans to build the entire project in one phase that delivers to market in 2024.
Related Beal joins an increasingly crowded A Street corridor for commercial development. National Development and Alexandria Real Estate Equities partnered on a $252M acquisition of the GE property next to Related Beal’s and are planning a 206-foot-tall building. Alexandria is planning for an up to 650K SF life science campus across 5, 10 and 15 Necco St., according to the Boston Business Journal.
Alexandria is also partnering with Anchor Line Partners on a 210K SF life science building at 99 A St. and Tishman Speyer’s life science arm, Breakthrough Properties, is planning a 250K SF project around the corner at 105 West First St.