Real estate investment firm Mack-Cali Realty’s Roseland subsidiary has started construction on the $67m Portside at Pier One mixed-use development project in East Boston, US.
The 176-unit luxury apartment project is part of the planned mixed-use community on the East Boston waterfront. Prudential Insurance is the joint venture in the development.
Upon completion, Portside will offer 150 market-rate apartments and 26 affordable apartments in a five-storey building near the pier.
Mack-Cali Realty said that the overall site features 26 acres of East Boston harbour frontage facing Boston and that the development is planned as a mixed-use waterfront community.
The development will feature luxury rental homes, condominium homes, retail and restaurant space, community/public space, a recreational marina, an operational shipyard, and a public landscaped green space.
Residential and commercial portions of the overall development will feature 566 luxury apartments and around 70,000ft² of ground-floor space for retail as well as public uses.
The site is located adjacent to Pier’s Park, a landscaped 6.5-acre, $17m municipally funded public park and the second phase of the park’s renovations will include an additional four acres.
Community amenities will feature a fitness centre, business centre, theatre room and controlled access garage parking.
Mack-Cali president and chief executive officer Mitchell Hersh said, "The extraordinary public and residential aspects of this community, including an expanded marina and shipyard, world class waterfront park, and magnificent views of the downtown Boston skyline, will all combine to energise the East Boston waterfront."
Roseland will be responsible for leasing and management of the property after completion.