The Boston Planning and Development Agency has given the green light to plans for a pair of 18-story residential towers on the site of the old Channel 56 building at 75 Morrissey Blvd. in Dorchester. The approximately $450-million development from locally based Copper Mill and Chicago-based POB Capital will create 754 new apartments in the neighborhood, according to planning documents filed with the city, MassLive reported.
The towers represent the first phase of a larger planned development for the area, which was approved in late 2023 after being proposed by a different development team, Center Court. Two adjacent parcels of land, currently occupied by a Star Market grocery store, liquor store and offices, are also included in the master plan.
Although the site’s original plan called for lab buildings, Copper Mill decided the “most acute need” in the area was housing, CEO Andrew Flynn told the Boston Globe.
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The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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