BOSTON—Steve Belkin, who some years back had proposed a 1,000-foot downtown office tower here, is scaling back the plan somewhat, but if approved, the project could still cost in the area of $900 million to construct.
The project would be built at and would be named 111 Federal St. and would rise to a height of up to 740 feet at one of the last development sites in the Financial District. The property currently features a distressed city-owned parking garage, according to the Boston Globe. Belkin, founder of Trans National Properties, shelved the original plan during the past recession.
“Now is the time to build a project like this,” Belkin tells the newspaper. “I think it can really make a difference in Boston. Being an entrepreneur I love to create, and this is really creating something.” Belkin's firm owns 133 Federal St. adjacent to the project site.
111 Federal St. is proposed to include a 300-room hotel, retail space, offices, and possibly 150 condominiums on the upper floors. If the condominiums were excluded from the venture, the building would still rise to a height of up to 650 feet and would be among the tallest downtown buildings.
Before work can proceed, Belkin must secure development rights to the property from the city. He says he is in talks to acquire the property from the city. See story in the Boston Globe.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
