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Waterside Place |
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Waterside PlaceBoston Condo Development
Boston Neighborhood: Seaport District
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| Description: The Waterside Place (as it is currently approved) is a mixed use development of 1.1 million square feet of retail, hotel and residential space to be built on land previously known as the Core Block. The plan the BRA approved calls for a 640,000-square-foot retail center, a 300-room hotel, a 19-story, 200-unit residential building, a 2,350-space parking garage, and a visitor center. A tentative 700,000-square-foot second phase will contain 130 condos and a 300,000-square-foot office building.
The complex will be located just off the intersection of interstates 90 (MassPike) and 93, and across from the new Boston Convention & Exhibition Center, the largest venue of its kind in the Northeast. It will also be near the World Trade Center stop on the transit system’s Silver Line. Despite mid-year 2007 approval from the BRA to move forward on project buildout, John Drew and Vornado Realty Trust are in a legal fight with investment partners including Edward A. Fish and the Kraft Group LLC that could result in major changes to Waterside Place (as it is currently planned). A joint venture called "Maxx Private Investments LLC" involving Fish, the privately held Kraft Group and an individual named Antonio Frias have sued Drew and Vornado over cost escalations for the $600 million Waterside Place project, which they claim are in excess of $100 million. Even though the parties agreed to try to reach a settlement out of court, the cost-overruns could result in major cutbacks to the project. At this point, we will stay close to the project and continue to bring you updates as they become available. Start Over >> View All Boston Condo Developments Narrow Search >> View All Boston Condo Developments with Concierge Services
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