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Harbor Condo Project Abruptly Shifts Course

BOSTON-Parties involved in the project dispute the rationale of recasting the 224 HarborView units as apartments.

By Joe Clements | Updated on August 30, 2007

(Read more on the multifamily market.)

BOSTON-Blaming the shifting tide in the housing arena, a planned condominium complex just being completed in the Charlestown Navy Yard will convert to an apartment property, lead developer Trammell Crow Residential has said. Besides 26,000 sf of street-level retail, HarborView has 224 residential units, offering a mix of studio, one- and two-bedrooms.

“With mortgage markets tightening nationwide and local housing sales continuing their slowdown, we determined that the best direction is to reposition the property as an upscale rental building,” TCR principal Joseph Torg says in a release. The broker who had been marketing the units has a radically different take, however.

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