100 Cambridge Street/Bowdoin Place Boston, Massachusetts Project Type: Mixed-Use/Multi-Use Case No: C036018 Year: 2006 SUMMARY Located on the edge of Boston’s historic Beacon Hill district, 100 Cambridge Street/Bowdoin Place is a mixed-use development composed of a new five-story retail and residential structure that wraps around a renovated 22-story government office tower (formerly known as the Leverett Saltonstall Building) constructed in 1965. Developed by quasi-public entity MassDevelopment, the project blends 34,500 square feet (3,205 square meters) of street-level shops with 56 market-rate condominiums, 19 units of affordable housing, and 580,000 square feet (53,882 square meters) of office space—floors two through 12 of the office building are dedicated to commonwealth uses and floors 13 through 22 contain Class A office space for private sector tenants. The project also comprises a 400-space underground garage that provides parking for tenants, shoppers, and workers. FEATURES High-Rise Building Public/Private Partnership Ground Lease Urban Regeneration Renovation Mixed Use—Three Uses or More 100 Cambridge Street/Bowdoin Place Boston, Massachusetts Project Type: Mixed Use/Multiuse Volume 36 Number 18 July–September 2006 Case Number: C036018 PROJECT TYPE Located on the edge of Boston’s historic Beacon Hill district, 100 Cambridge Street/Bowdoin Place is a mixed-use development composed of a new five-story retail and residential structure that wraps around a renovated 22-story government office tower (formerly known as the Leverett Saltonstall Building) constructed in 1965. Developed by quasi-public entity MassDevelopment, the project blends 34,500 square feet (3,205 square meters) of street-level shops with 56 market-rate condominiums, 19 units of affordable housing, and 580,000 square feet (53,882 square meters) of office space—floors two through 12 of the office building are dedicated to commonwealth uses and floors 13 through 22 contain Class A office space for private sector tenants. The project also comprises a 400-space underground garage that provides parking for tenants, shoppers, and workers. LOCATION Central City SITE SIZE 3 acres/1.21 hectares LAND USES Office Building, Condominiums, Townhouses, Affordable Housing, Neighborhood Retail Center KEYWORDS/SPECIAL FEATURES High-Rise Building Public/Private Partnership Ground Lease Urban Regeneration Renovation Mixed Use—Three Uses or More PROJECT WEB SITE www.bowdoinplace.com www.100cambridgestreet.com PROJECT ADDRESS 100 Cambridge Street Boston, Massachusetts 02114 OWNER Commonwealth of Massachusetts Department of Capital Asset Management Boston, Massachusetts 617-727-4050 www.mass.gov DEVELOPER MassDevelopment/Saltonstall Building Redevelopment Corp. Boston, Massachusetts 800-445-8030 www.massdevelopment.com DEVELOPMENT MANAGER Meredith & Grew/100 Cambridge Street Development, LLC Boston, Massachusetts 617-330-8000 www.m-g.com ARCHITECT Elkus Manfredi Architects, Ltd. Boston, Massachusetts 617-426-1300 www.elkus-manfredi.com PROPERTY MANAGEMENT Steve Howard CB Richard Ellis New England Boston, Massachusetts 617-912-7000 www.cbre-ne.com GENERAL DESCRIPTION A mixed-use development that reuses an abandoned government building and its concrete plaza, 100 Cambridge Street/Bowdoin Place blends a 580,000-square-foot (53,882-square-meter) office building constructed in 1965 with 75 townhouse-style condominium units totaling 102,000 square feet (9,475 square meters) and 34,500 square feet (3,205 square meters) of street-level retail shops. The office tower component is known as 100 Cambridge Street and the residential section is called Bowdoin Place. Originally known as the Leverett Saltonstall Building, this 22-story government structure makes up the bulk of the property, with four to five stories of condominiums and retail shops filling in the empty Cambridge Street Plaza that used to front the Cambridge Street entrance to the building. Of the 75 condominiums, 56 were sold for market value, with 19 designated as for-sale affordable housing. Resting squarely on the border between Boston’s Beacon Hill neighborhood and the old West End, 100 Cambridge Street/Bowdoin Place is hailed by some as one of the projects that have helped spur the revitalization of Cambridge Street. Based on full offices and positive feedback from tenants, state officials believe this type of mixed-use project can serve as a model for redevelopment of other neglected properties. MassDevelopment, the Massachusetts Development Finance Agency, is the economic development authority for the commonwealth and the developer of 100 Cambridge Street/Bowdoin Place. A quasi-public agency, MassDevelopment was created in 1998 by the legislative merger of two independent economic development agencies—the Massachusetts Industrial Finance Agency and the Land Bank. Charged with supporting real estate development and other capital investment projects throughout the state, MassDevelopment provides development and financial services and supports projects from concept through development. For more than 20 years, the agency, along with its predecessors, has furnished more than $10 billion in financing to businesses and institutions in Massachusetts. To enter into the ground lease for 100 Cambridge, which has a term of 50 years with two optional 15-year renewal periods, MassDevelopment created the MassDevelopment/Saltonstall Building Redevelopment Corporation (M/SBRC), a wholly owned subsidiary. Prior to the Saltonstall Building redevelopment, the commonwealth of Massachusetts had never entered into such a large joint public/private project in which so much space was occupied by the private sector. The project also marks the first time condominiums have been built on state-owned land—meaning Boston benefits from property tax income on real estate that otherwise would have been tax exempt. THE SITE 100 Cambridge Street/Bowdoin Place is located on a quadrangle of land that is defined by Cambridge Street to the north, Bowdoin Street to the west, Somerset Street to the east, and other state-owned office buildings to the south. When it originally opened in the mid-1960s, the Leverett Saltonstall Building was one of the first new structures erected as part of the revitalization of Boston’s government district. Government agencies of one type or another have inhabited the tower for most its 40-plus years. Because the site lies at the base of Beacon Hill, the natural topography means that the south entrance to the building is actually on the second floor and one story up from the Cambridge Street entrance. The courtyard at the building’s south entrance incorporates green space and contains the “Garden of Peace,” a tribute to Massachusetts victims of homicide, as well as a fountain in the granite wall that separates the property from the building to the south. This refurbished courtyard is known as Leverett Saltonstall Plaza, in honor of the state legislator, governor, and member of the U.S. Senate for whom the office tower was originally named. On the other side of the plaza is the McCormack Building. Erected in 1975, this tower was also part of the state’s urban renewal efforts. Like the original Leverett Saltonstall Building, it has 22 stories and provides office space to commonwealth agencies. As of September 2006, it is under consideration by MassDevelopment for refurbishment. A convenient walk to several Massachusetts Bay Transportation Authority subway stations, 100 Cambridge Street/Bowdoin Place is also within easy walking distance of Massachusetts General Hospital, which brings an estimated 16,000 employees into the area daily; Government Center and the State House; the financial district; Boston Common; and many other amenities. The development is also situated very close to the city’s central artery (I-93) and lies less than four miles (6.4 kilometers) to Logan International Airport. DEVELOPMENT PROCESS As mentioned previously, the Leverett Saltonstall Building was completed as part of the project to revitalize the city’s governmental district, which included construction of the Government Center complex. At the time, many older bowfront structures were bulldozed to make way for the boxy Saltonstall Building, which was supposed to be a symbol of Boston’s move toward postwar modernism. The 22-story Saltonstall Building, with its expansive concrete plaza, closely resembled other government facilities nearby, but stood out jarringly against the red brick and brownstone of Boston’s posh Beacon Hill neighborhood. In 1999, asbestos was found in the air circulation system, forcing the commonwealth to close the Saltonstall Building and move 2,000 workers to other sites. This left a large, empty, unsafe structure with no purpose. Before it could be used again, the asbestos would need to be removed—an expensive process that would involve essentially gutting the entire building. Rather than sell the site and chalk it up as a loss, the commonwealth invited the development community to rehabilitate the structure. After receiving bids from a number of interested parties, the commonwealth awarded the project to MassDevelopment, in part because its proposal was the only one that incorporated a mixed-use plan for the site. In addition to renovating the Saltonstall Building, MassDevelopment’s proposal called for 100,000 square feet (9,290 square meters) of residential space and 34,500 square feet (3,205 square meters) of retail uses. MassDevelopment controls the complex through a lease from the commonwealth, which retains ownership