The Walsh administration is fielding new redevelopment proposals for the shuttered, city-owned Winthrop Square garage in the Financial District, where former Mayor Thomas M. Menino once envisioned a legacy-building, 1,000-foot tower that would be the city's tallest.
The Boston Redevelopment Authority has issued a request for interest from developers after Trans National Group owner Steve Belkin — who originally planned to tackle that 1,000-foot tower back in 2006 — had reopened talks with the city about a scaled-down project. His latest proposal is a 740-foot tower that would incorporate his adjacent Federal Street property and include a 300-room hotel, offices, retail space and possibly condos. Belkin plans to respond with a proposal akin to that and said he's confident his project would provide the "best urban planning solution."
"Trans National Properties (TNP) is a critically important strategic abutter to the Winthrop Square Garage and the only developer who can create an iconic mixed-use office and residential tower by integrating this site with our existing building at 133 Federal St.," Belkin said in a statement yesterday. "Our project will be able to move forward more rapidly than any other project as a result of the extensive work we have done and the materials that have already been developed."
The city decided a new, formal search for a developer was warranted, according to BRA chief of staff Heather Campisano. The BRA solicited developer interest in 2006, and Belkin was the only respondent. The BRA board voted in 2007 to recommend the city designate Belkin as the developer, but the city never took formal action; the proposed tower height ran afoul of the Federal Aviation Administration, the Great Recession hit and Belkin shelved his plans.
"The market is obviously very strong right now," Campisano said. "We put it out there, and we'll see what comes back."
The city is looking to "create a project of significance with a mix of uses that will further anchor the Financial District," according to the request for interest.
It's unclear whether the size of the parcel at 47,738 square feet would preclude developers from constructing anything other than housing without access to adjacent sites. "It certainly makes it a potentially more attractive development site having control over an adjacent parcel," said David Begelfer, CEO of NAIOP Massachusetts, a commercial real estate development trade group.
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