Mass. Names Developer For $360M Boston Project
BOSTON — State officials on Monday named the joint venture that plans a major development in air rights along Interstate 90 in Boston’s Bay Bay, subject to negotiation of development agreements and leases with the state and project permitting and design review.
ADG Scotia II LLC was designated the developer of two parcels at the intersection of Boylston Street and Massachusetts Avenue, where Samuel and Associates and Weiner Ventures plan to build a 400-foot high-rise hotel and residential building and a low-rise retail building on one parcel.
On the second parcel, the developers plan to construct a mid-rise residential building on Boylston Street and a two-floor retail building crossing the Mass. Turnpike along Mass Ave.
According to the Massachusetts Department of Transportation, the $360 million project will create 230 residential housing units, a 270-room hotel and 50,000 square feet of retail space.
Under a 99-year lease, ADG Scotia will provide the state $18.5 million in rent for the parcels.
The air rights development process started in 2008 and was restarted in 2011 after it was put on hold during the Great Recession.