"This is a good example of the City, a developer and an existing property working together for the improvement of an entire area," says Boston Redevelopment Authority Director Mark Malone. 33 Arch St., which broke ground this past June, will be a 33-story office tower containing 600,000 sf of office space with parking for 800 cars. The tower will have sweeping views of Boston Common and the Charles River and offer close proximity to public transportation lines, local hotels, restaurants and shopping.

The office tower will also offer tenants flexible floor plans and state-of –the art voice and data networks. Ellen Wilhelm of Congress Group Ventures tells Globest.com that construction of the $150-million dollar project should be completed by the first quarter of 2004. The development is a joint venture of Congress Group Venture, National Electrical Benefit Fund and Value Enhanced Fund.