(To read more on the multifamily market, click here.)
BOSTON-SW Boston Hotel Ventures LLC has gotten the green light from the Boston Redevelopment Authority to begin construction on a long-delayed $200-million, 26-story hotel and residential project. The development will sit at the corner of Stuart and Tremont streets on the edge of Boston's Theater District.
The 350,000-sf venture, which will be built under the W Hotel banner, will be comprised of at least 235 hotel rooms and about 123 residential condominiums along with 12,000 sf of retail, spa and restaurant space as well as underground parking. Construction on the project is expected to begin in the spring with completion scheduled for early 2009.
Originally known as the Lowes Hotel Project when it was approved by the BRA in 2001, the project was scrapped due to the economic downturn following the terrorists attack on 9/11, city officials said.
The BRA also approved plans for two new residence halls that will add 1,800 new dorm beds to the campus of Northeastern University. The first phase of that construction will create a 1,200-bed dormitory at the corner of Ruggles and Tremont streets. A second 600-bed dorm will be built later on St. Botolph Street on the current site of the school's Cullinane Hall. Northeastern also plans to build four other buildings that include additional student housing.
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