Photo courtesy of Google Maps
The developer of a large apartment complex in the Fenway is proposing the first office-to-residential conversion in Boston’s North End, a project that would create 57 apartments near North Station.
Copper Mill North End, a firm led by former Scape executive Andrew Flynn, plans to acquire the 43,000-square-foot building which is only 28 percent occupied.
The estimated $29 million project will require public subsidies to complete its financing, according to an application submitted this week to the Boston Planning Department.
Scape last year completed The Bon, a 451-unit apartment building at 1252 Boylston St. in the Fenway. Copper Mill also is pursuing a major development project south of Boston, recently submitting plans for a mixed-use project including 1,200 housing units at the former Brockton Fairgrounds property.
The 123 North Washington St. property is a former mercantile building that was converted into office space, but currently has just two tenants, according to the application.
The building’s layout, including two elevator wells and windows on all sides, is well-suited for a housing conversion, developers said. The project will include nine units on most floors.
Property records list the current owner as Harbour Food Service and Jake Realty.
Newton-based developer The RMR Group is proposing a major redevelopment of underutilized office space across the street from the site. The North End Gateway project includes a 300-room hotel and 420 housing units at the corner of North Washington and Causeway streets.
Boston’s office-to-residential conversion program offers tax breaks for 29 years for projects in the downtown and surrounding neighborhoods. Boston’s conversion program has received 13 applications for a total of 603 units so far. Developers have until the end of 2025 to submit applications.
In June, Gov. Maura Healey announced a $15 million fund earmarked for Boston office-to-residential conversions, with $215,000 available for each income-restricted unit up to a maximum of $4 million per project. The Affordable Homes Act signed in August includes $275 million for conversions statewide.
