Intercontinental's $90 million project involves renovating the building's six floors as office space and adding another six floors of apartments above. The plan is to have 180,000 sf of office space and 108 apartments, with at least 20 being designated as affordable.
This area has not traditionally been sought after as office space but after completion of the Big Dig it will no longer be overshadowed by the Central Artery or the Green Line, both of which are going underground. Bordered by the river on one side, the North Station area has easy access to major transportation routes.
Stop & Shop's parent company, Ahold, sold this building in the mid 1980s to Boston Kenmore Realty Corp. for $7 million. But financing problems for the renovation ran into problems and the building was sold three years later for $24.5 million.
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