In February, Urban Retail Properties Co. out of Chicago and the locally based Drew Co. won a bid to develop what is expected to be one of the largest public improvement projects in the city's history. The project, will over 600,000 sf of retail space, a 20-story condominium complex, a visitor's center, a 21-story hotel and more than 2,000 parking spaces. Drew Co. CEO John E. Drew has called the site "a new landmark in South Boston." Urban officials stated that they expect the project will accelerate development in the area.

Urban was also responsible for the city's most recent large-scale project, the 3.7-million-sf Copley Place, which was built on landfill over a highway and opened in 1984. Urban and Drew have collaborated on numerous projects including the Ronald Reagan Building and International Trade Center in Washington, DC.

The partnership continues negotiating for retail leases with several major retail firms. Earlier in summer, the partners signed Seattle-based retail design firm Callison Architecture Inc. to design the retail and mixed-use spaces within the complex. The firm worked with Kallman McKinnell & Wood Architects of Boston with Kallman McKinnell taking responsibility for the overall project design. The project is now undergoing the permitting process.