News: Construction Design & Engineering

Suffolk Construction breaks ground on 390,000 s/f Millennium Place III residential tower: developer is Millennium Partners, design by Handel Architects

Suffolk Construction recently celebrated the groundbreaking of Millennium Place III, a 15-story, 390,000 s/f residential tower in the Downtown Crossing neighborhood. The $220 million project includes $135 million of hard construction costs and is comprised of 256 units with one, two, and three-bedroom apartments, 9,700 s/f of retail space on the ground floor, and 125 below-grade parking spaces. When completed in fall 2013, the new building will replace an underutilized parking lot and occupy a full city block that spans Washington St., Avenue de Lafayette, Harrison Ave. Extension, and Hayward Place. Construction of the residential tower is expected to add 450 construction jobs, and will significantly contribute to the revitalization of the Downtown Crossing area. The developer is Millennium Partners, and Handel Architects is the architect. The project will be designed and built to achieve USGBC LEED Silver certification. The tower will be the third and final phase of Millennium Partners' mixed-use campus in downtown Boston. The first two phases of Millennium's development consists of the Ritz Carlton Hotel and Towers. Suffolk is also managing construction for The Kensington project, a 27-story, 381-unit residential tower located on Washington St. The construction management firm recently completed construction on the restoration and rebuilding of the neighboring Boston Opera House and Suffolk University's Modern Theatre.
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Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary