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Real Estate News: Back Bay Station Redevelopment

BBStaMore details emerge on the development of Back Bay Station, in Boston. A new proposal from Boston Properties has been submitted to Boston Redevelopment Authority for approval.Included in the proposal is up to 600 residential units, as well as office and retail space. In total there will be three new towers, 26, 28 and 34 stories high, totaling 1.26 million square feet. Taking advantage of their 54-year lease on the air space above Back Bay Station, Boston Properties is responding to the increase in demand for luxury properties in downtown Boston. The proposal may go through, with the stipulation that the developer would renovate and manage MBTAs Back Bay Station. Boston Properties will be investing $32 million into upgrading the station. Another positive, BP foresees that the project will bring in roughly 2,500 construction jobs and 3,400 permanent jobs.Back Bay Station would not be the first MBTA station to be privately run. South and North Stations are both managed by private individuals who oversee the stations upkeep, renovations, etc. In fact, South Station may soon be seeing a similar addition of residential units and/or hotel rooms. Boston Properties has big plans for the Back Bay Stations renovation, one of the main goals being to add more light and air to the station.Although the construction of the new buildings may take a few years to begin, the smaller renovations of the station could begin as soon as a few months from now. This is exciting news for the area. Bostonians can look forward to a more convenient, pleasant commuting experience as well as more living space in the center of the city.For more info, please click on Back Bay Station RedevelopmentBoston real estate

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