A Closer Look at 'Bulfinch Crossing'

An aerial view of the Bulfinch Crossing development.

BOSTON—The long-awaited mixed-use redevelopment project at the Government Center Garage is now underway and also has a nam—“Bulfinch Crossing.” Globest.com talked exclusively with the developer to get the latest on this ambitious more than $1-billion development in the heart of Bulfinch Triangle. Thomas O’Brien, founding partner and managing director of The HYM Investment Group, which along with National Real Estate Advisors, LLC, tells Globest.com that initial phase of the nearly 3-million-square-foot project will involve the development of a 487-unit rental apartment project, 64 of which have been designated as affordable units. O’Brien notes that the 45-story (480 feet high) building will be the tallest high-rise all rental apartment building in Boston when completed.  The Boston Redevelopment Authority approved the first phase of what is now called Bulfinch Crossing back in January. The planned 43-story One Congress office building (528 feet tall) will be built in the second phase (when ownership receives a commitment from a major tenant) and will total 1 million square feet. Once construction begins on the One Congress office tower, the existing Government Center parking garage, completed in 1972, will be demolished. Approximately 1,100-parking spaces of the existing 2,300-car garage will be retained. The reconfigured garage will provide parking for the new developments as well as daily parking, overnight resident parking and event parking. Also on the western side of the project site, another residential building (300 feet in height) will  be developed that O’Brien says could be a combination of rental and condominium units. He adds that all three buildings will share a one-acre public amenities space on the top (11 ^th) floor of the garage. On the eastern side of the parcel, three other smaller buildings are planned that currently call for a hotel-and-condo building, a 150,000-square-foot office building and a multi-story 40,000-square-foot retail building. The project site will also include an extensive retail corridor that will connect Faneuil Hall to the Boston Garden indoor station. In total, the Bulfinch Crossing project will total approximately 2.9 million square feet, 812 residential units, 196 hotel rooms, 1.15-million-square feet of office space and 85,000 square feet of new retail space. O’Brien says that construction on the project began four months ago. “In order for this project to move forward there are a number of pieces that have to be realigned within the garage—the ramp structure, how the electrical comes in, where the water and where all the other pieces come in; we need to rework those pieces inside the garage,” he says. “That work has begun.” He reveals the development partnership will pull a building permit on the residential tower on December 1. When asked about the first residential tower planned on the western side of the project, he says that the project will be a luxury “high-end” rental building. “Our objective is to make this the best (rental apartment) building in Boston,” O’Brien says. The building will offer a mix of studio, one-bedroom, two-bedroom and three-bedroom units and will feature two amenity floors. The 11 ^th floor amenity space will feature a pool deck, workout facility and a great room. On the 34 ^th floor, the amenity space will offer views of the Charles River and Back Bay and will include a library and outdoor deck. The first residential tower will take about 36 months to complete (opening first half of 2020). O’Brien says that he believes there is sufficient demand in Boston for the luxury rental product planned at the development, noting that the first new residential buildings in Boston in some time were not completed until 2000 and since then Boston has been and continues to play catch-up with market demand. “We envision Bulfinch Crossing as part of the ongoing evolution of Boston. It is symbolic of the new urban experience—one that is highly connected to the community and by transit; one that embraces a variety of uses; and one that emphasizes thoughtful and purposeful design to make it an exciting destination,” says O’Brien. “We are thrilled to share our vision for the site, along with its new name and brand.” Jeffrey J. Kanne, president and CEO of National Real Estate Advisors, is also bullish on the city. “Boston continues to be a strong investment with solid fundamentals—a growing population along with a thriving technology and innovation economy, which is why we chose to invest in Bullfinch Crossing,” he says. “We have confidence in the city and in the location of the project, and we trust that the team at HYM will execute this vision for a new urban experience with great success.” O’Brien did not rule out that construction on the One Congress office building could begin simultaneously with the rental apartment tower. “There is a ton of demand for office space. We are in the market talking with tenants right now,” he says. “That office building also takes about 36 months to deliver so a tenant that needs an occupancy in the second half of 2020 or beyond are all tenants that are on our screen that we are talking to,” O’Brien adds.