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Massport Finalizes Candidates For South Boston Parcel; Three Developers Make Final List for Parcel F-1 Office Building

9/26/2000

The Massachusetts Port Authority (Massport) announced a short list of proponents for development of Parcel F-1, an approximately 1.45 acre site in South Boston. From the six developers that submitted proposals, three were chosen based on their responses to the Request for Proposals (RFP) issued on June 8, 2000. The Parcel F-1 site is located on D Street in the Commonwealth Flats area of the South Boston Waterfront.

The three developers selected are Beacon Capital Partners, Manulife Financial, and Trammell Crow Company. These three short-listed proponents will be asked to provide additional information for Massport review and analysis. Massport's Parcel F-1 selection committee is expected to make recommendations for a final selection by late October 2000.

The RFP for Parcel F-1 outlined a request to design, permit, finance, construct, and operate a Class A office building of up to 470,000 square feet including ground level retail and an underground parking garage.

"By narrowing the selection to the three best proposals, Massport improves its bargaining position, ensuring a first-class office building for this valuable South Boston site," said Lowell Richards, Massport's chief development officer.

Massport first issued an RFP for Parcel F in 1997. Responses from two developers included proposals to develop both a Class A office building and a four-star hotel. In an effort to promote mixed use development in this area, and consistent with the street pattern changes proposed in the City of Boston's Public Realm Plan, Massport reconfigured the property whereby Parcel F-1 was designated for office use and Parcel F-2 for hotel development.

In 2000, proposed plans for the development of Parcel F-1 ceased when the original development designation for Parcel F-1 expired and Massport was informed that negotiation between the developer and the co-proponent anchor tenant had terminated.