Simpson Housing could begin construction on its $140 million mixed-use project in Boston’s Bulfinch Triangle neighborhood within the next two weeks.

The developer recently received final approvals for the project from the Federal Highway Administration. The 365,000-square-foot residential and retail project will sit atop a buried portion of Interstate 93, across from the TD Garden.

The Victor, as the development is called, was stalled in 2008 when the economy tanked. As the economic climate has improved and lending for projects has slowly opened up, the firm dusted off its plans and are ready to build 286 rental apartments with 17,000 square feet of retail on Parcel 1 of the Rose Kennedy Greenway.

Simpson is financing the project with its own equity and a construction loan from U.S. Bank and Wells Fargo, with U.S. Bank as the lead lender, said Patrick McMahon, Simpson’s vice president of development for the Northeast. Because the loan is still being negotiated, he could not say how much the bank will provide.

The company has not spoken with any retail tenants yet, but the approximately 145-foot-tall development is expected to create about 400 construction jobs and should be finished in roughly two years, McMahon told Banker & Tradesman.

Simpson Close To Breaking Ground On Bulfinch Project

by James Cronin time to read: 1 min
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