Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BOSTON-Eight developers responded to the Boston Development Authority’s request for proposals to develop Hayward Place, a 37,380-sf city-owned parcel here in the heart of Downtown on Washington Street near Boston Common. The parcel is currently a parking lot, but plans for the site include residential and office space on the upper floors of a proposed building and retail space on the lower floors. Part of the proceeds from the selling price will go to build a school in Chinatown.

This property was the center a heated controversy last year when the BRA seized it, claiming that it was “blighted.” The city council protested the move, insisting that the city seized the land in order to ensure that the council would have no input into its development.

The developers interested in the property include the commercial division of Lincoln Property Co., which bid $20 million; New Development Capital Partners, which bid $13 million; Charles E. Smith Realty Inc., which also bid $13 million; Avalon Bay, which bid $19 million; the residential division of Lincoln Property Co., which bid $23 million; Keen Development Corp., which bid $13 million with a zoning provision for $14.5 million; MDA Partners LLC, which bid $20.5 million; and Trinity Financial, which bid $13 million including a school built on site.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.