More 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 Redevelopment

#BostonRedevelopment #BostonRealEstateAmong some of the largest and most ambitious development plans on the horizon for Boston, three are anchored by major train stations.Plans to renovate andrevitalize North Station, South Station, and Back Bay Station couldturn these transportation hubs into attractive multi-use destinations, according to a Boston Globe article.The pairing of transit stations with developers could be awin-win situation. Thedevelopment projects would bring much needed cash to the Massachusetts Bay Transportation Authority in the form of necessarytransit improvements. At the same time, theygive the developers a ready audience of tens of thousands of daily commuters:

We think transportation hubs are an important part of the future office and residential, and really of any city, said Bryan Koop, the executive vice president at Boston Properties who is at the helm of the North Station and Back Bay projects. Its incredibly sensible to put density where you already have trains.

Read the Boston Globe's Three Developments for Three Boston Train Stations.Curbed Boston has also featured this story, and includedsome great visuals of the projects. Read Curbed Boston's Boston Transportation Hubs Drawing Some of the City's Biggest Developments.Read more about the proposed Back Bay Station plan.If you'd like tomore about the Boston residential real estate market, take a look at my currentcitywide market report.If youhavequestions about buying or selling Boston real estate, please callme at617-584-9790, or email me viathe button below.  

Boston Real Estate Headlines:

• Boston Real Estate: 10 Tallest Buildings on the Horizon
• Real Estate News: Why Property Investment is Thriving in Boston
• Boston Real Estate Market Update
• Seaport Real Estate: This Seaport Office Just Sold for Almost Half a Billion Dollars
• Greater Boston Real Estate Market Continues to Make Significant Gains in February
• New Boston Real Estate Development Proposal Tops Millennium Tower
• Buyer Cheat Sheet for a Sellers Market

Featured Boston Real Estate:

• 301 Shawmut Avenue #30, South End $665,000
• 38 Lewis Street, Waterfront $2,750,000
• 102 Ocean Street, Dorchester $949,000
• 110 Stuart Street #21E, Back Bay $2,395,000