CREW Boston’s May luncheon included a panel discussion on the proposed redevelopment of Winthrop Square, a City of Boston-owned parcel of land (previously a parking garage) that will shape the future of the Financial District. The enlightening panel, moderated by Halle Auerbach, project manager at MP Boston (the developer behind Winthrop Square), was comprised of Kathleen MacNail, principal at MP Boston, Andy Hoar, president and co-managing partner at CBRE/New England, and Julia Rogers, director of sustainability at WSP.
Shaping the heart of downtown Boston
Halle Auerbach and Kathleen MacNail of MP Boston first walked through the plans for the tower that just gained city approval earlier this month after a lengthy community process. The tower will be approximately 1.6 million square feet and Boston’s fourth tallest building. This is primarily comprised of a luxury residential component at the top and roughly 750,000 square feet of commercial office space - designed to be flexible and adaptive - across 20 floors below. At the street level will be a 12,000 square foot Great Hall public space to create a new connection between Winthrop Square and Federal Street, accompanied by restaurant and retail space. The Great Hall space is intended to be used for both public and private use, including events such as graduations, conferences, etc. Underneath will be 3-4 levels of underground parking. The tower plans to be open 18 hours a day, year-round and fully activated with programming. Project benefits include:
- Contributing $152.7 million to the City
- Ongoing $12 million annual contribution to the City’s tax roll
- New construction and permanent jobs
- Investment of $1.2 billion in the Financial District and its economic multiplier effect
Sustainability is a top priority
In the words of Julia Rogers, director of sustainability at WSP, “Me sitting here is already a disruption in the industry.” MP Boston and its project partners are not just ticking the box when it comes to building sustainably — they are purposefully being thoughtful about the end goals. Rogers noted she focused on three things:
- What makes people happy and comfortable?
- How are occupants using the space?
- How can this be a breakthrough building?
The Winthrop Square team is focusing on integrating sustainable design seamlessly into all aspects of the project. It aims to achieve WIRED Platinum, LEED Platinum and WELL Gold Standard, and also adopt the principles of Passive House in the office component. Rogers explained that Passive House principles promote reduction in energy consumption, greenhouse gas emissions, and the health and wellness of its occupants. It will also be designed to meet the more extreme weather conditions anticipated in the future.
A premier project that will attract significant demand
Winthrop Square is also reflective of the dynamic market right now in Boston. “The market is really embracing new,” noted Andy Hoar of CBRE/New England. There is nothing like this currently downtown, and it will have a significant impact on the neighborhood itself, jobs and the economy. In Hoar’s experience, he anticipates tremendous demand from tech companies for the office space especially as they look to cluster, and “amenities will inevitably wrap themselves around a premier project like this.” While Hoar declined to comment on rent cost, he instead noted that we should be looking at what the cost is per employee to be at this location.
What’s next for Winthrop Square?
After recently passing through the Boston Civic Design Commission, MP Boston turns its attention to BPDA, special zoning, and Massachusetts Historical Commission approvals. If all runs smoothly, they could be in the ground as early as September 2018 - likely starting construction before designs are 100 percent finalized. It will be a 40 month project, projected to open in 2022.
