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BRA Chooses Five Finalists to Develop Downtown Parcel

BOSTON-The Boston Redevelopment Authority chooses five finalists for the Hayward Place parcel. Redevelopment of the 37,380-sf space is part of city Mayor Thomas M. Menino's effort to revitalize this part of the city.

By Naomi Grossman | Updated on March 06, 2002

BOSTON-The Boston Redevelopment Authority narrowed the list of potential developers for the Hayward Place parcel to five finalists. There has been a great deal of interest in developing the 37,380-sf lot as it is in a prized location here near Boston Common and the recently built Millennium Place development. Second stage submissions are due at the beginning of May.

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.

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