According to reports, real estate developers and investors still show strong interest in properties in coastal markets. With cities like San Francisco, New York City, Boston, and Washington, D.C. always at the top of list, this may explain why Boston always seems to be under construction with new ‘up-and-coming’ neighborhoods every couple of months. One neighborhood that appears to be in a constant state of change is Downtown Crossing, or the Business Improvement District (BID). With 8,000 current residents, construction has begun on new residential towers that will add 3,000 more to the area by 2015. This along with new shops, restaurants and the redevelopment of the old Filene’s building, Downtown Crossing is morphing from the long-struggling city center into a full-blown neighborhood.
7 Reasons why Downtown Crossing is (and will continue to be) better than ever:
1. City officials announced developer Millennium Partners will take control of the long-idle 426 Washington St building, home to Filene’s for many years, and build a tower on the site with retail stores, office space, and hundreds of residences.
2. “A Drug store on Steroids” As many in the area were left upset by the loss of Borders in Downtown Crossing, it seems that something even better is coming! An Upscale Walgreens at 10-24 School Street –– this location includes fresh hand-rolled sushi, a juice bar with made-to-order smoothies, a hair and nail salon and so much more! Rumor Alert: it could be open 24 hours (or at least until midnight).
3. Newly Opened Restaurants:
a. 5 Guys: 58 Summer Street
b. Back Deck: 2 West Street
c. Café de Boston: 75-101 Federal Street
d. Chipotle: 101 Summer Street
e. Gem Restaurant & Lounge: 42 Province Street
f. JM Curley: 21 Temple Place
g. Potbelly: 263 Washington Street
h. Pret A Manger: 50 Post Office Square
i. Scholars Bistro & Lounge: 25 School Street
j. Uno Due Go: 52 Summer Street
4. There are 4 cupcake places:
a. Cakeology: 45 Province Street
b. Crumbs: 176 Federal Street #3
c. Lulu’s Cupcakes: 20 Winthrop Sq Lane
d. Sweet: 11 School Street
5. New Condos and Hotels:
a. 45 PROVINCE (45 Province St.): A 31-story, 337,000-square-foot, 150-unit mixed-use residential tower.
b. Ames Hotel (1 Court St.): $40 million renovation into 125-room boutique Ames hotel, including Woodward at Ames restaurant. Grand opening: December 2009.
c. Hamilton Crossing (8 Winter St.): Renovation of 12-story, 50,000-square-foot building into 48 apartments. Opening for tenants: March 2013.
6. Newly constructed Theatres:
a. Modern Theatre (525 Washington St.): A $45 million renovation into a new 2,400-square-foot, 185-seat black box theater. Additional features of the redevelopment include a 800-square-foot art gallery and a 190-bed student dormitory.
b. Paramount Center (545 Washington St.): Building transformed with a 145,000-square-foot, $80 million renovation. New development includes 550-seat main theater, black box theater, screening room, 2,000-square-foot rehearsal space, 262-bed student dormitory, and ground-floor restaurant, Salvatore’s.
7. Buildings Under Construction:
- 59 Temple Place Hotel Redevelopment (485-509 Washington St.): Proposal calls for the rehabilitation and conversion into a new, 135,000-square-foot, 243-room boutique hotel with ground floor retail. Project approved December 2012.
- 120 Kingston St. (Kingston & Essex St.): The project calls for 26-story, 228,865-square-foot residential tower with 200 residential units. There will be 5,300-square-feet of ground-floor retail space along with 70 below- grade parking spaces. Estimated Completion: Summer 2014.
- Millennium Place III (580 Washington St.): The project calls for a 15-story, 265-unit, 390,705-square-foot mixed-use residential tower with approximately 12,000 square feet of ground-floor retail and a 125-space underground garage. Estimated completion: Fall 2013.
- Kensington Place (659 Washington St.): The project calls for 385-unit (61 affordable housing units), 27-story, 457,000-square-foot apartment tower that includes 110 parking spaces and 4,000 square feet of ground-floor retail space.
