Equity Residential completes first of five buildings for $168m West End Apartments
Mayor Thomas Menino was joined by Boston Redevelopment Authority director John Palmeri, representatives of Equity Residential and members of the West End community for a grand opening ceremony marking the completion of 'Vesta', the first building completed in the five building Equity Residential development, The West End Apartments. Upon completion, the $168 million development will bring 310 new residential units, the first addition of new housing to the West End neighborhood in 10 years.
The construction manager is Turner Construction and design was provided by Elkus/Manfredi.
"I'm delighted to welcome new housing to the West End," Mayor Menino said. "Creating new housing - especially affordable housing - is a top priority of my administration and we will keep looking for ways to increase the city's housing supply. I also want to thank Equity Residential for their commitment to improving the West End neighborhood"
"Equity Residential is very proud of the West End Apartments project and the continued revitalization of the West End neighborhood. The Vesta building is an exceptional property and we are pleased to bring this asset to the city of Boston," said David Neithercut, Equity Residential's president and CEO.
The project which consists of 5 buildings, Vesta, Asteria and three smaller buildings called the Villas, is the culmination of over four years of planning with city, state and the community. The completion of the Vesta building adds 104 units of housing to the city's housing supply. The completion of the Villas is slated for winter 2008 and Asteria in spring of 2008.
The West End Apartments are located off of Blossom St. in the West End. The apartments are a mix of studio, one-bedroom, two-bedroom and three-bedroom apartments as well as townhouses. In addition, there will be two below-grade parking structures for 660 cars, creating a valuable 58 percent increase in open space throughout the site, an important part of the project's identity.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.