Eight developers originally responded to the BRA's request for proposal to develop the site. The original criteria included a minimum disposition price of $13 million. The price is now fixed at $23 million, the highest bid among the developers that was submitted by Lincoln Properties Co., one of the five finalists. The developer also proposed 10,000-sf of retail space, 342 residential units and 567 parking spaces.

The other four finalists are: Avalon Bay Communities, which proposed 32,000-sf of retail space, 300 residential units and 274 parking spaces; Keen Development Corp., which proposed 62,800-sf of retail space on two levels, 150 residential units and 310 parking spaces; New Development Capital Partners, which proposed 25,000 sf of retail space, 66 residential units, 265,000-sf of office space and 460 parking spaces; and, MDA Partners LLC, which proposed 40,000-sf of retail space, 330,000-sf of office space and 90 parking spaces. All developers want to build to the 155-foot maximum and include the required 10% affordable housing, where applicable.

The development of this site is part of the revitalization of the Downtown Crossing area, an effort that a released statement from the BRA calls "a hallmark of the Menino administration." In addition to the required price additional required elements in the second stage of the review process include at least 290 below-grade parking spaces and retail space.