The property is considered prime real estate and its development will expand the city's Downtown area. The property consists of a combination of land across four parcels, along with the possibility of additional development on adjacent air-rights parcels, and is located between Chinatown and the Leather District.

"While the publicly-built Leonard P. Zakim Bunker Hill Bridge serves as a spectacular entryway into the city from the north," says Turnpike Authority chairman Matthew J. Amorello, "this will be the private sector's chance to create a southern threshold that is every bit as magnificent."

A task force made up of area residents has worked with the Turnpike Authority and the Boston Redevelopment Authority to develop a set of "Emerging Principles" for the area, which is slated to become a new mixed-use district, with housing, retail and hotel space as well as a community park. The Turnpike Authority anticipates the South Bay area--a transit-oriented district given its proximity to South Station--will be anchored by a pair of new office towers.