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A private outdoor pool on the 36th-floor amenity level of the Ritz-Carlton Residences at South Station. Image courtesy of DBOX
Developers of Boston’s South Station tower have announced the initial pricing for the $870 million tower’s 166 luxury condominium units and the opening of a sales gallery at 711 Atlantic Ave.
The Ritz-Carlton Residences, Boston will occupy the upper 16 floors of the 51-story tower rising behind the transit hub’s headhouse. Houston-based developer Hines is listing units starting at $1.3 million and ranging up to $14 million, with completion scheduled in 2025.
The tower began construction in 2020 after Hines received $870 million in construction financing, in a culmination of plans for an air rights development above New England’s busiest train station that dated back to the 1970s.
The 7,500-square-foot sales gallery includes three presentation rooms with architectural models, a projection screen displaying elements of the project including simulated future views from the luxury residences, and a model unit showing off the Jeffrey Beers International-designed interiors.
“From sustainability and urban integration to its innovative design solutions and rich interior experience, South Station Tower is poised to become an enduring next chapter in the story of Boston’s architectural and urban legacy,” said Fred Clarke, a partner at tower architect Pelli Clarke & Partners of New Haven, Connecticut.
A 36th-floor amenity level including a private outdoor pool will be available to condo residents, along with a 1-acre “sky park” on the 11th floor also open to tenants of the tower’s 768,000-square-foot office component.
The Collaborative Cos. of Boston is the exclusive sales agent for the residences, which hit the market amid a softening of demand for Boston condos. The average rate for a 30-year fixed-rate mortgage hit a 23-year high of 7.63 percent, Freddie Mac reported this week.
Condo sales volume in Boston’s urban core hit the lowest level in three years during the second quarter, according to TCC’s mid-year market report. Average condo prices declined 4 percent from the previous year to $1.23 million, while average prices per square foot were flat at $1,111.
