Skanska Moves Dirt on PwC's Boston HQ

BOSTON-Ceremonial shovels moved dirt late last week as Skanska USA Commercial Development Inc. broke ground on Seaport Square's first office tower, 101 Seaport, a 17-story, 440,000 square-foot office tower that will serve as the Boston headquarters for PricewaterhouseCoopers. PwC will occupy 75% of the tower's office space when construction is completed in October 2015. Skanska USA first announced the accounting firm as 101 Seaport's anchor early last month.

“This project secures the neighborhood's reputation as a hub for entrepreneurs and forward-thinking companies to expand, and for our residents to enjoy,” Boston Mayor Thomas M. Menino said at last week's ceremony. “101 Seaport, and its anchor tenant in PwC, represents the leadership in innovation, sustainability, and business that have become synonymous with the City of Boston and our business community.”

This past December, the company acquired Parcel L1 of Seaport Square, on which 101 Seaport will rise, in Boston's Seaport District from MS Boston Seaport LLC, a partnership between Morgan Stanley and Boston Global Investors, for $38 million. Skanska USA Building will be handling the construction of the new building, which is aiming for LEED Gold certification or better, and includes 20,000 square feet of ground floor retail being handled by WS Development.

In partnership with Twining Properties, Skanska is also developing Watermark Seaport, an apartment building with 346 residences and ground-floor retail, immediately adjacent to the new office tower. Both projects are part of the 6.35 million square feet of residential, commercial, hotel, retail and civic/cultural space that's planned in Seaport Square by MS Boston Seaport LLC.

Watermark Seaport is scheduled to begin construction later this fall. The Boston Business Journal reported last week that Skanska USA was close to signing a deal to acquire Parcel L2, on which it would construct a third tower within Seaport Square.