New details are emerging on the next high-end apartments in Boston’s Seaport District, a 388-unit complex being developed by Miami-based developer Crescent Heights.

Crescent Heights has begun marketing the 22-story tower at 399 Congress St. as NEMA (short for “New Market”) Boston, part of a growing portfolio of rental properties including a luxury tower that opened five years ago in San Francisco and a 76-story tower under construction in Chicago.

People who lease apartments at NEMA Boston will receive “club benefits” including access to guest suites at other NEMA properties, according to its web site. A mobile app will provide information on the property’s 3,240-square-foot retail component, including event invites and “organic communication opportunities,” Crescent Heights says.

Crescent Heights did not respond to requests for comment. Studios in the San Francisco tower start at $3,050 a month, according to

Attempts to develop the 0.7-acre former Boston Edison-owned parcel dated back more than a decade. Boston-based Madison Properties originally won approval for a 505-room hotel, but after failing to obtain financing, switched gears to a multifamily project approved in 2013.

Crescent Heights bought the fully permitted property, known as the “sausage parcel” because of its shape, in 2016 for $36 million.

Crescent Heights broke ground on the project with little fanfare in July 2017, after obtaining $157 million in construction financing from Union Labor Life Insurance Co. Completion is scheduled for the second half of 2019, according to a construction schedule posted online.

The project is part of a multifamily construction boom that’s bringing more than 1,200 luxury housing units to a two-block stretch of the B Street corridor. Cronin Group broke ground last week on its 114-unit condominium tower at 150 Seaport Boulevard, while Cottonwood Group is building 717 condos and apartments at its EchelonSeaport complex.

‘NEMA Boston’ Coming to Seaport District

by Steve Adams time to read: 1 min