Mike Schumacher

Mike Schumacher

The developer of a big residential project planned in Boston’s Seaport District has added a pair of local real estate executives to its team as it prepares to break ground by year’s end.

Cottonwood Management Group has named Edward Vydra as senior vice president for the $850 million complex at Seaport Boulevard and Pier 4 Boulevard. Vydra was most recently a managing director for Taurus Investment Holdings in Boston and previously worked at Lend Lease Real Estate Investments and WS Development.

Mike Schumacher has been appointed senior vice president of development and will oversee construction. Schumacher was a vice president of construction for Boston Properties, where he worked on projects including the TD Garden redevelopment.

Edward Vydra

Edward Vydra

Cottonwood, with offices in Boston and Pasadena, California, plans to break ground this fall on 750 condominiums and apartments and 125,000 square feet of shops and restaurants on a 3.5-acre site. Cottonwood paid $120 million for the two parking lots, known as parcels M1 and M2, within the 6.3 million-square-foot Seaport Square development, in October 2015.

The development would be the second-largest residential project in the Seaport. The Benjamin and VIA towers under construction at One Seaport Square will contain 832 apartments opening in 2017.

Founded by MIT graduate Alexander Shing, Cottonwood has $2 billion in assets under management. Vydra and Schumacher join Rebecca Mattson, head of East Coast development, in Cottonwood’s Boston office.

Seaport Residential Developer Expands Team

by Steve Adams time to read: 1 min
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