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Developer Gets Green Light to Convert Office Space

BOSTON-The Boston Redevelopment Authority gives Capital Properties' proposal to convert five floors of office space at 360 Newbury St. into high-end condominiums its approval. The developer plans to put 54 units in the building.

By Naomi Grossman | Updated on April 05, 2004

BOSTON-The Boston Redevelopment Authority gave its approval to a proposal to convert five floors of office space at 360 Newbury St. into high-end condominiums. Capital Properties plans to put 54 units in the building, which is located at the corner of Massachusetts Avenue in the Back Bay neighborhood.

The eight-story building, which was formerly the Tower Records location, now houses a Virgin Megastore in its lower floors. Floors four through eight were used for office tenants but with the office market remaining soft, Capital Properties is following a recent trend among developers in the city to convert underused office space or even rental units into condos. Availability rates for office space in the area remain at about 16%.

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