Image courtesy of Hacin; Photo by Steve Adams|Banker & Tradesman Staff
Two decades after demolition of Boston’s elevated Central Artery opened up neighboring properties to sunlight and park views, construction on the last vacant bordering parcel is accelerating.
Boston Residential Group has begun a pre-marketing campaign for 55 India, a luxury condominium tower that’s scheduled for completion in December 2026.
“It’s a boutique offering at 29 units, so we wanted it to be something really special,” said Curtis Kemeny, CEO of Boston Residential Group. “It’s the last open site, and it comes in at a curve in the Greenway, so you get this jewel box with open sets of views up and down the Greenway and out to the water.”
Boston-based architects Hacin designed the project, which replaces a parking lot at the corner of India Street and the John F. Fitzgerald Surface Road.
A 44-unit project was approved in 2014 for the 7,100 square-foot parcel under a different development team. The current plans, approved in 2020 and updated this year, reduced the unit count to 29 condominiums, including four income-restricted artist live-work units.
The 55 India project includes a trio of 2-story penthouses ranging from 2,500 to 3,000 square feet with patios, along with 26 condos ranging from 1,650 to 2,100 square feet with balconies.
Boston Residential Group received a $45-million construction loan from Bank OZK last fall for the 55 India project. Since then, construction crews have been excavating the site and drilling piles to prepare for vertical construction of the concrete-frame tower late this year.
Douglas Elliman Real Estate is the broker for the project, which has yet to announce prices.
But Kemeny said the downtown luxury condo market appears to have staying power, with a limited pipeline of new construction hitting the market in the coming years.
The Fallon Co. is developing the 122-unit One Harbor Shore condo tower on the Fan Pier, while Hines is nearing completion of 166 Ritz-Carlton branded condos at the South Station Tower.
“The sales volume is a bit slower in the fourth quarter, but the context is we are undersupplied and that has been true for quite some time,” said Kemeny, whose previous projects include the 196-unit Olmsted Place in Jamaica Plain and 360 Newbury.
