South Station redevelopment project in Boston gets $870m loan

27 January 2020 (Last Updated January 27th, 2020 09:33)

JLL Capital Markets has arranged an $870m construction loan for the first phase of the South Station redevelopment project, a 1.9 million feet-squared mixed-use project in the US that seeks to transform Boston's transportation hub and skyline. 

JLL Capital Markets has arranged an $870m construction loan for the first phase of the South Station redevelopment project, a 1.9 million feet-squared mixed-use project in the US that seeks to transform Boston’s transportation hub and skyline.

The project will feature a 1.2 million feet-squared, 51-storey mixed-use tower that will be constructed at Boston’s South Station transportation hub.

The project’s initial phase is expected to be delivered in 2024. It will feature around 166 residential condominium units and over 500 parking spaces, as well as offering around 660,000ft² of office and retail space for rent.

Pelli Clark Pelli Architects designed the faceted oval glass tower, which will be built to align with the South Station façade.

The office component will feature 26,000ft² of primarily column-free floor plates with 13in floor-to-ceiling heights.

The tower’s residential component will include studios and units with one, two and three bedrooms, as well as penthouse duplex units.

These residences will be accessed through a private lobby with doorman / door staff.

Other amenities include an urban sky park with outdoor space, an office sky lobby, residential sky lobby, conference centre, fitness centre, a landscaped terrace with an outdoor pool, cooking and entertainment space for resident use, and an on-site restaurant.

JLL Senior managing director Riaz Cassum said: “The tower at South Station has an irreplaceable, transit-oriented location above one of our city’s busiest transportation hubs and will offer best-in-class office and residential space for discerning tenants and residents.”

In order to secure the loan with the Children’s Investment Fund, JLL worked on behalf of a joint venture between affiliates of Hines, APG Groep NV and Dune Real Estate Partners.