Portfolio News
November 10,2015
Announcing a partnership with Boston Global Investors (BGI), HGC takes part in the transformative Boston Seaport project. This joint venture aims to develop a luxury waterfront residential project that seamlessly integrates retail and condominiums within the vibrant Boston Seaport Square.
As part of the comprehensive development plan for Boston Harbor Square, the project will encompass an impressive commercial property spanning approximately 1,012,000 square feet. The development consists of a Class A residential component, offering approximately 887,000 square feet of exquisite living space, accompanied by 125,000 square feet of retail space. Additionally, the project includes the provision of approximately 700 parking spaces, catering to the convenience of residents and visitors.
With a total investment of up to one billion dollars, this visionary project showcases the commitment of HGC and its partners to creating exceptional urban spaces. The senior loan amounts to USD438 million, while the developer has invested over USD200 million. HGC, in collaboration with other limited partners, has made a significant investment of USD320 million, demonstrating their dedication to fostering vibrant communities.
The Boston Seaport project commenced in October 2016 and reached completion in September 2019. Echelon Seaport, part of the development, has been recognized with the prestigious 2021 Opal Platinum Award for Mixed-Use Property Development. This esteemed award celebrates outstanding projects that exemplify creativity, innovation, and sustainability. Additionally, Architectural Digest has chosen Echelon Seaport as one of the "6 of the Hottest Luxury Developments in Boston", further highlighting its exceptional design and world-class amenities.
Boston Global Investors (BGI), a renowned global real estate development and advisory firm headquartered in Boston, will lead the development of the project. Led by John B. Hynes III and a team of experienced professionals, BGI boasts over 30 years of expertise in developing commercial, residential, and mixed-use projects. BGI's impressive portfolio includes notable developments such as the State Street Financial Center and the 101 Arch Street Tower in downtown Boston. They were also involved in the master planning of Seaport Square, a new 6.3 million square foot neighborhood on Boston's waterfront. BGI's commitment to delivering exceptional projects is evident in the successful completion of One Seaport Square, the largest mixed-use development in Boston.
Currently, BGI is leading the development of 10 World Trade, a world-class commercial tower in Boston's Seaport District, and assisting CIM Group in the redevelopment of the Motor Mart Garage into a vibrant, mixed-use residential tower in Boston's Back Bay.