One of the most famous ballparks in baseball is getting a new neighbor.
Fenway Center, a 1.1-million-square-foot luxury development broke ground on January 30 near Fenway Park, the home of the Boston Red Sox.
“We are very pleased that this important project for the Commonwealth of Massachusetts and the city of Boston will finally be realized,” Kelly Saito, a managing partner at developer Gerding Edlen, told real estate website Nerej. “Fenway Center’s phenomenal location, the vibrancy of the surrounding neighborhood and the continued demand for housing in the Boston market make this a great time to start construction.”
When finished, the $600-million mixed-use property will combine 5 new buildings, including a 27-story tower above the Massachusetts Turnpike, 160,000 square feet of office space, 50,000 square feet of retail space, 30,000 square feet of green space, 1,290 parking spaces, a community space, daycare center, bicycle storage, and a bike-share station.
Fenway Center is designed to be a model for smart growth, transit and sustainable energy-oriented development, according to the project’s website. The property will be adjacent to the Yawkey Commuter Rail Station, one block from Kenmore Square and the Fenway Green Line Stations. A proposed solar power plant on side would generate a significant portion of the project’s electricity and all of the power needs of the Yawkey Commuter Rail Station.
Along with Gerding Edlen, the property is being developed by Meredith Management and TH Real Estate. The groundbreaking marks the realization of a proposal held back by delays and revisions since 2002.
“I had my moments when I wasn’t quite sure this day would come,” John Rosenthal, president of Meredith Management, told the Boston Globe. “This has been a 15-year journey to get to this point.”
Phase 1 of the project is set to be completed in 2020. It will comprise two residential apartment buildings with 312 units, 37,000 square feet of retail space and 200 underground parking spaces.
