Construction of another luxury apartment complex has gotten under way on the East Boston waterfront.
Portland, Ore.-based developer Gerding Edlen on Wednesday held a groundbreaking ceremony for a 259-unit apartment complex at 6 New St. Two industrial buildings on the 4-acre site will be demolished, and a third will be renovated and expanded into a 16-story tower offering high-end amenities such as a communal chef’s kitchen and rooftop pool with Boston skyline views.
Multifamily developers have looked to East Boston as the next opportunity to build thousands of luxury apartments and condos on waterfront parcels near Maverick station on the MBTA’s Blue Line. They are positioning the projects to appeal to workers who commute by mass transit but want lower rents than recent high-end towers built in downtown Boston.
"We haven’t set the rents yet, but we’re trying to offer some discount to what you’d pay in the new buildings downtown," said Kelly Saito, Gerding Edlen’s president, in an interview Wednesday.
The $132-million project will be built by Boston-based Suffolk Construction at the northwest tip of the Jeffries Point neighborhood, next to LoPresti Park. It also will include 5,000 square feet of ground-floor commercial space and a second four-story residential building.
The project was designed by ADD Inc. with Copley Wolff Design Group handling the planning, design, and construction of the roof terrace, among other services. It is expected to be completed in 2016.
Gerding Edlen acquired the property in January after a previous developer failed to move forward with a housing plan. The modified plans approved by the Boston Redevelopment Authority this fall call for a three-story, 158-space parking garage instead of an underground garage.
Gerding Edlen also is building a new landing that will offer access to future public or privately-operated water taxis.
In November, Roseland Property Co. opened the first 176-unit phase of its Portside at East Pier apartment complex on nearby Marginal Street. The total project could include up to 576 apartments and condos on a Massport-owned parcel.
Editor’s note: This story has been updated since it was first published on Dec. 3.
