An upcoming mixed-use project in Boston’s downtown has been approved to grow by 24,000 square feet.
Millennium Partners announced today it has filed a notice of project change with the Boston Redevelopment Authority to expand the square footage of Hayward Place in Downtown Crossing and begin construction in late spring, according to a principal with the firm.
The building will fill the full city block bordered by Washington Street, Avenue de Lafayette, Harrison Avenue and Hayward Place. The site is directly across from Millennium Partners’ Ritz-Carlton Hotel and Towers.
The developer reconfigured the building, enlarging the common areas of the 15-story tower and adding bay windows to increase natural light in some units, said Joe Larkin, a principal with Millennium.
The ceiling heights in the building have been lowered to nine feet, allowing the rental and homeownership units to be marketed at a lower price than originally planned. Larkin said the $200 million project should take about two years to complete.
The property will house 265 residential rental and for-sale units, and 12,000 square feet of retail space. Since the project change notice has been filed, the city will need to determine the environmental impacts of the project and approve the changes, and a department by department review will be required for the building permit.
The developer is providing city hall with cash instead of constructing affordable housing units required by the city on-site. Millennium will provide the city with an initial $2.5 million payment for its affordable housing fund, and is working with the city to determine the remainder, Larkin said.
The building will generate an estimated $2 million in annual tax revenue and bring nearly 300 jobs to the area, according to a press release.
Hayward Place will be the latest development in the city’s plan to revitalize Downtown Crossing, which has recently seen the establishment of its first Business Improvement District and the restoration of three historic theaters – Suffolk University’s Modern Theatre, Emerson College’s Paramount Theatre and the Boston Opera House.
