Trans National and its affiliates, led by chairman Steve Belkin, acquired the properties in 1976 and have maintained the firm's headquarters there ever since.

According to last Friday's filings, Trans National says it is committed to including at least 50% of the required affordable housing units on-site. In addition, the firm is pursuing the creation of all of the required affordable units within the Fenway neighborhood. Trans National states that it is working with the Fenway Community Development Corp. and the local community “to determine the best approach for the remaining affordable units with the goal of creating more affordable units off-site than would be produced if all affordable units are provided on-site.”

Some of the other public benefits from the project include significant improvements along the Boylston and Ipswich Street corridors, including new lighting and artwork in the area beneath the Charlesgate overpass in cooperation with the Boston Art Academy and MassDOT.

Other benefits of note are approximately $3.5 million in new annual real estate tax revenues for the city and about 1,600 construction jobs to be created during development and about 150 permanent jobs upon completion.

Trans National did not provide development cost estimates but did state that it hopes to begin construction on the project in the second quarter of 2017 with completion expected between 24-30 months thereafter.

Other members of the development team include: KIG Real Estate Advisors of Brookline, MA as developer/advisor; KPD Advisors, of Medway, MA as development manager; Elkus Manfredi Architects of Boston architect and Carol R. Johnson Associates, Inc. of Boston as landscape architect.

Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.

BOSTON—Trans National Properties, LLC is now looking to secure approvals for the replacement of its long-time headquarters property in Fenway with a mixed-use 29-story tower.

The Boston-based development firm filed an Expanded Project Notification Form for its 2 Charlesgate West development with the Boston Redevelopment Authority on Friday. The plan calls for the demolition of three existing buildings on the nearly half-acre parcel to be replaced with a 29-story, 344,000-square-foot building. The building will feature 295 residential units with a mix of rental and ownership units. Trans National will occupy the 7,500 square feet of office space for its corporate headquarters. The building will also feature 10,000 square feet of restaurant space.

The buildings to be demolished, if the project secures the necessary municipal approvals, would be the 2 Charlesgate West Trans National building, a six-story building constructed in 1963; 6 Charlesgate West, a two-story commercial building constructed in 1954 and 1161 Boylston St., a one-story commercial building and warehouse built in 1955. In total, the current buildings at the site total approximately 52,000 square feet of office space.

Trans National President Justin Krebs told the BRA in the firm's Letter of Intent filed on May 18 that the project “will replace an insignificant and undistinguished existing building with an architecturally compelling structure.” He later added that the project would provide the city with an “iconic landmark to serve as a gateway to the Fenway neighborhood approaching from the east.”

Trans National and its affiliates, led by chairman Steve Belkin, acquired the properties in 1976 and have maintained the firm's headquarters there ever since.

According to last Friday's filings, Trans National says it is committed to including at least 50% of the required affordable housing units on-site. In addition, the firm is pursuing the creation of all of the required affordable units within the Fenway neighborhood. Trans National states that it is working with the Fenway Community Development Corp. and the local community “to determine the best approach for the remaining affordable units with the goal of creating more affordable units off-site than would be produced if all affordable units are provided on-site.”

Some of the other public benefits from the project include significant improvements along the Boylston and Ipswich Street corridors, including new lighting and artwork in the area beneath the Charlesgate overpass in cooperation with the Boston Art Academy and MassDOT.

Other benefits of note are approximately $3.5 million in new annual real estate tax revenues for the city and about 1,600 construction jobs to be created during development and about 150 permanent jobs upon completion.

Trans National did not provide development cost estimates but did state that it hopes to begin construction on the project in the second quarter of 2017 with completion expected between 24-30 months thereafter.

Other members of the development team include: KIG Real Estate Advisors of Brookline, MA as developer/advisor; KPD Advisors, of Medway, MA as development manager; Elkus Manfredi Architects of Boston architect and Carol R. Johnson Associates, Inc. of Boston as landscape architect.

Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.