Off -Site Housing Land Purchase Clears Beacon for Midway Project Approval

BOSTON-Beacon Capital Partner’s purchase of an acre of land in South Boston enables the development company to meet the residential requirement necessary to gain approval for its proposed Midway project, which would be developed on seven acres in the Fort Point Channel district.

Approval for the 1.5 million-sf project requires that at least a third of the space be residential in nature. Beacon Capital spokesman Alex McCallum tells GlobeSt.com that while Midway is a mixed-use project, its “primarily office space and in order to make it economically viable, it needs an appropriate amount of office space.” Beacon, says McCallum, had been looking for an appropriate site to develop off-site housing to meet the requirement and found it on West Second Street. “This rounds out the planning for Midway,” notes McCallum. “By having this additional housing we meet all the housing requirements. This was the final piece that needed to be done prior to receiving approval.”