The Smith Reaches Another Construction Milestone
Leggat McCall Properties, along with their joint venture partner BentallGreenOak on behalf of its U.S. Core Fund, management company, Greystar, and General Contractor Suffolk Construction, recently celebrated the Topping-Off of ‘The Smith’, the newest residential community in the South End. This is just one of many milestones the project has achieved as construction continues. The Smith, set to open in Spring 2020, also just launched a new website: TheSmithBoston.com.
The development and construction teams ceremoniously raise the last beam on the first building, which will include 299 units. This milestone signals the momentum of construction currently underway for the mixed-use residential project, which will in total bring approximately 650 apartment units, including an on-site affordable component, distributed over three buildings.
These luxury apartment homes will boast premium fixtures and amenities, and superior location with proximity to some of the best restaurants in the city of Boston. Approximately 650 homes will host a range of living options, including studios, 1, 2, 3 bedrooms, and 29 penthouses, all with modern layouts and high end finishes. The development will boast expansive amenity spaces, including a roof deck pool with 360-degree city views, private and public courtyards with ample greenspace, skylounge, fitness and yoga rooms, fire features, a pet wash and run, co-working/ work from home and entertainment spaces.
The Smith – named for the South End’s artisan and industrial history in the area south of Washington Street – will also bring an estimated 76,800 sf of new and renovated office space, and roughly 19,700 sf of retail and cultural spaces on the ground floors of the buildings to serve the residents, as well as the surrounding neighbors. Of the 3.1-acre site, 36% will be open space, including a portion dedicated to public park use, and improved thoroughfares and sidewalks that will enhance the way people move in and around the site, creating better access to the surrounding neighborhood.
As part of the retail options available at The Smith, designated cultural spaces will create an opportunity to embrace the vibrant artist community, as well as other unique and historic industrial attributes derived from the South End. The objective is to activate the public realm and provide an amenity that serves the wider neighborhood. The cultural space can be programed for a variety of creative and/or civic uses, and the development team and the Boston Planning & Development Agency (BPDA) are currently working on an RFP to identify the best use for this space.
The Smith sits amid the resurgence of the Harrison-Albany corridor – expanding upon the activity happening throughout the vibrant South End. While the rental apartments will support the South End’s continued growth, the development team is looking forward to bringing the South End an extended sense of community.
“The Smith will create substantial public open spaces, which was identified as a neighborhood desire throughout the community process, and new street-level retail that will greatly improve the pedestrian experience.” said Sam Reiche, Vice President at Leggat McCall Properties. “Our team is excited to hit this next milestone. We thank the city, the South End community, and the entire project team for their input and continued collaboration on The Smith.”
The site was purchased from the Boston Medical Center in 2014. The design by Boston-based firm CBT intends to complement the existing buildings in the neighborhood, and will be targeting the Silver level under the Leadership in Energy and Environmental Design (LEED).
BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $48 billion USD of assets under management (pro forma as of June 30, 2019) and expertise in the asset management of office, retail, industrial and multi-residential property across the globe. BentallGreenOak has offices in 22 cities across ten countries and three continents with deep, local knowledge, experience, and extensive networks in the regions where we invest and manage real estate assets on behalf of our clients. BentallGreenOak is a part of SLC Management which is the institutional alternatives asset management business of Sun Life.
BentallGreenOak includes BentallGreenOak (Canada) Limited Partnership, BentallGreenOak (U.S.) Limited Partnership and the real estate and commercial mortgage investment groups of certain of their affiliates, all of which comprise a team of real estate professionals spanning multiple legal entities. The assets under management shown above include real estate equity and mortgage investments of the companies within BentallGreenOak.
For more information, please visit www.bentallgreenoak.com
About Leggat McCall Properties
Founded in 1965, Leggat McCall Properties is a leading real estate owner and developer, as well as service provider to corporate, educational, healthcare, and other clients in the Greater Boston Area. Leggat McCall Properties has acquired and developed more than 10 million square feet of properties, with an aggregate value in excess of $3 Billion. The company specializes in managing development and construction risk, and transforming complex and challenging real estate projects into stable, institutional-quality assets.
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates an estimated $115 billion of real estate in over 180 markets globally including offices throughout the United States, UK, Continental Europe, Latin America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing approximately 500,000 units/beds, and has a robust institutional investment management platform with over $32 billion of assets under management, including nearly $11.7 billion of assets under development. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.Greystar.com.
Media Contact: McDermott Ventures
Maggie Dow |Maggie@mcdvent.com |339.793.3556BACK TO NEWS