Tishman Speyer Unveils Plans for Prime Waterfront Development Site in Boston’s Seaport District | Announcements | Tishman Speyer


Tishman Speyer Unveils Plans for Prime Waterfront Development Site in Boston’s Seaport District

New York January 15, 2015

New York, (January 15, 2015) -- Tishman Speyer, one of the world’s leading developers, owners, operators and asset managers of first-class real estate, today unveiled its plans for a recently-acquired waterfront development site at Pier 4 in Boston’s Seaport District. The seller was New England Development.

The plans call for a 13-story, commercial building, primarily for office use consisting of approximately 373,000 rentable square feet; a nine-story, 100-unit luxury residential condominium building; and a three-level below-grade parking facility. Both buildings will include ground floor retail/restaurant space and the site plan also includes a new one-acre public park. Construction at the site, which formerly featured the well-known Anthony’s Pier 4 Restaurant, is scheduled to begin in the fourth quarter of 2015, with completion of both new buildings in 2018.

Tishman Speyer, which has developed and operated properties all over the world that meet high sustainability standards, expects to seek LEED gold certification for the project.

Located adjacent to Boston’s Financial District, but formerly cut off from the rest of the downtown by “Big Dig” construction, the Seaport District has become the epicenter of new development in the area. Its waterfront location, convenient access to transportation (rail, highway and airport) and existing yet growing amenity base are drawing commercial space users and residential buyers and renters in large numbers to form a vibrant 24/7 community.

“The bedrock of our business platform is to develop and own world-class properties in the world’s great cities,” said Tishman Speyer Co-CEOs Jerry Speyer and Rob Speyer. “Boston is certainly one of those cities. Our Pier 4 project represents a terrific opportunity to expand our footprint in Boston and deliver the kind of high quality office space as well as a desirable residential community for which Tishman Speyer is well known.”

They continued, “New England Development has been a great steward of this project to date, and we look forward to completing this first-class development.”

Following the sale, New England Development continues in its role in the master development planning process regarding obligations to the developer of the first phase of the Pier 4 Master Plan, including interim roadways and other matters.

For more information, please visit www.pier4boston.com.

About Tishman Speyer
Tishman Speyer is one of the leading developers, owners, operators, and asset managers of first-class real estate worldwide. Active across North America, Europe, South America and Asia, Tishman Speyer is relied upon by many of the world’s most prestigious corporations to meet their office space needs. As of June 30, 2014, the firm had acquired, developed and/or managed a portfolio of approximately 131 million sq. ft. with a total value of approximately USD $68.1 billion since its founding in 1978. Signature assets include New York's Rockefeller Center and the Chrysler Center, São Paulo’s Torre Norte, Ventura Corporate Towers in Rio de Janeiro, and OpernTurm in Frankfurt. Tishman Speyer also has projects at different stages of development currently in Brasília, Chengdu, Frankfurt, Gurgaon, Hyderabad, Paris, Rio de Janeiro, San Francisco, São Paulo, Shanghai and Suzhou.