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$240M Project Gets Green Light From BRA

BOSTON-An 836,950-sf development proposed for 3.4 acres here in South Boston on the waterfront gets the go ahead from the Boston Redevelopment Authority. The $240 million project includes a 440-room hotel, a restaurant, retail space and 460 residential units.

By Naomi Grossman | Updated on February 15, 2002

BOSTON-The Boston Redevelopment Authority granted final approval to an 836,950-sf development here on 3.4 acres in South Boston on the waterfront. The project being developed by Joseph Fallon, managing director of South Boston Waterfront Development LLC includes a full-service hotel.

“It’s a pretty huge parcel,” notes Meredith Baumann, spokesperson for the BRA. She tells GlobeSt.com that the financing for the project is “nearly in place.” Securing financing for a hotel project has always been tricky but in the current economic climate has become increasingly difficult in this area. The project is being developed on three parcels of land here owned by the Massachusetts Port Authority, under a long-term lease.

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