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BOSTON-A groundbreaking ceremony was held for the start of construction on Atelier 505, a mixed-use development in the heart of the city’s South End neighborhood at the intersection of Tremont and Berkeley streets. The project will include luxury residential condominiums, retail shops, restaurants and the city’s first new theaters in almost 75 years.

The site is owned by the Boston Redevelopment Authority but the project is being developed by The Druker Co. Ltd. In what is being termed a “unique public/private partnership,” Druker will build the shell and core of two theaters, arts education and rehearsal spaces at a value of over $8 million and provide the Boston Center for the Arts with $2 million to establish an endowment. The City has pledged $3 million to support the project. The Huntington Theatre Company is raising the remainder of the funds necessary to complete the theaters, currently estimated at $7 million, as part of a broader capital campaign.

Atelier 505 will include approximately 103 market rate residential condominiums, 21,000 sf of retail and restaurant space, a 350-seat proscenium theater, a 200-seat “black box” theater and other administrative support spaces for the performing arts. The residential units range in size from a 500-sf studio to a 3,000-sf penthouse and there will be a two-level, below-grade, 370-car parking garage. Construction is slated to be completed by July 2004.

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