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Description
Like most neighborhoods in Boston these days, Fenway is being transformed by a flurry of construction projects, including many new condo and apartment developments. One project that's been generating a ton of buzz is the proposed condo and apartment tower at 2 Charlesgate West. Currently, the headquarters for the project's lead developer, Trans National, are located in a building at this location. If the developer has its way--the project is still under review by the Boston Redevelopment Authority--construction on the new tower would begin in April 2017. In the meantime, Boston City Properties can keep you up to speed regarding the progress of this project. If it is approved, built and completed, we can help you find the right apartment or condo as well. Read on below to learn everything that we currently know about this exciting new residential tower.
The Basics
2 Charlesgate West is located in the Fenway just south of the Massachusetts Turnpike. For many years, this area has been largely disregarded by locals, who primarily cut through after Red Sox games to make their way to Back Bay and other parts of the city. With this proposed project, the developer predicts that this corner of Fenway will be revitalized. In addition to constructing the tower, the developer will make streetscape improvements around the area where it will be located, which should help to improve the overall look and feel.
When it's all said and done, the developer plans for this to be a 29-story, 340-foot-tall spire housing 122 condos and 173 apartments. Around 10,000 feet of retail and restaurant space will be located on the ground floor. The development is expected to be loaded with premium amenities and services, and many of them have already been announced. Of course, until the BRA gives the go ahead, all of this is basically conjecture at this point.
New Fenway Condos and Apartments
The site, which is located in the eastern section of the Fenway, currently has three old buildings. They will have to be demolished before the project can commence. One of them is the headquarters for Trans National, the lead developer on the project, so the developer will have to find a temporary location from which to conduct business as the project unfolds. At the moment, the site has no cohesive design or style. The construction of this residential tower will change that, and it's expected to give a new lease on life to this section of the Fenway.
Given how many residential buildings are located in Fenway and around the city, it seems incredible that even more are needed. As most people are aware, however, Boston's housing and rental markets are on fire right now. Prices keep surging, and that's largely to do with the fact that inventory is so sparse. Indeed, single-family homes are difficult to come by, and the same is true about apartments and condos. Without question, the development at 2 Charlesgate West will attract renters and buyers right away. Competition for these units is likely to be fierce. If you would like the option of renting an apartment or buying a condo at this development, check back often with Boston City Properties. When the time comes, we'll give you up-to-the-second info about availability in this building.
Project Estimates
At this moment, the developer has slated for construction to begin on this project on April 15, 2017. Because it is still under BRA review, however, this date will most likely change. The developer had to choose something for the date, and that was their best estimate. If construction does begin sometime in April 2017, the developer believes that it will be ready for buyers and renters by sometime in 2020. If you ever follow construction projects in Boston, you already know that they don't always unfold as planned. Our best estimate is that apartments and condos will be available by mid-2020, but various events could slow down the progress of this project, causing everything to be pushed back to a later date.
Apartments and Condos
In its report to the BRA, the developer stated that the completed building will house 173 apartments on the lower floors and 122 condos on the upper floors. Around 10,000 square feet of retail and restaurant space will occupy the ground floor, where around 7,500 square feet of office space will be reserved for the developer, Trans National, to serve as its new headquarters. All told, this development will offer 344,000 square feet of space on a half-acre site. The developer also expects for there to be around 200 parking spaces for residents and office workers. Some will be in an underground garage, and some of them will be in an above-ground parking lot. Given how hard parking space is to come by in the city, this will be a major draw for many renters and buyers. The developer has also stated that there will be studios as well as one-, two- and three-bedroom apartments and condos.
Amenities and Features
Upon completion, 2 Charlesgate West will feature a soaring glass and brownstone terraced spire. Drawings of the building display a sleek, modern edifice that is sure to become a major landmark in this part of the city. The developer hasn't released a lot of information just yet, but they have released a list of amenities and features that will be included in the building.
This new condo and apartment development will feature a 24/7 fitness center with state-of-the-art cardio and strength-training equipment. There will also be a dining room and a show kitchen for residents to enjoy as well as a well-stocked library or media center. Perhaps most excitingly of all, there will be a series of impeccably landscaped outdoor terraces with grilling stations and dining areas.
Stay Updated
Even if this project starts on time, which is pretty questionable at this early stage, it will not be complete until at least 2020. If there are snags along the way, which there often are, it might not be finished until much later than that. It's also worth mentioning that the BRA hasn't approved this project yet, so it could technically not happen at all. That is highly unlikely, but it's still a possibility to keep in mind.
As new information becomes available regarding this development, Boston City Properties will post updates on our website. If you have questions about the progress of this development or about any other Boston real estate matters, you can call the team at Boston City Properties at any time. We can get answers for questions that you may have about the building as well.
Boston City Properties is your one-stop shop for all Boston real estate information. We maintain one of the largest online databases of searchable Boston real estate listings, and we'll give you free access when you sign up using a simple form. When 2 Charlesgate West opens its doors, listings for apartments and condos within it will appear in our database. You can use our search filters to quickly zero in on units that suit your requirements. If you have any questions or would like additional help of any kind, give Boston City Properties a call.