Real Estate

Residential Plan Expected to Gain OK for Parcel 9/Haymarket

The Boston Herald’s Tom Grillo is reporting that MassDOT will award the Parcel 9 development at Haymarket/Blackstone St. to Eastat Reality Capital for their residential plan consisting of 78 apartments over a ground market. The site is along the Rose Fitzgerald Kennedy Greenway by the Haymarket pushcarts and Blackstone Street, one of the oldest streets in Boston.

Eastat is the favored bidder because it has a relatively low-budget $40 million, fully financed plan and was the only proposal to meet the RFP requirements. The apartment building will meet the 55 foot height constraint.

The Boston Museum put forth an aggressive push for its $120 million proposal, but its fund raising stalled at $7 million and would reportedly need at least $40 million in state funding. The other 2 bidders were DeNormandie Companies and Gutierrez Company, both with variations of an office building.

3 Replies to “Residential Plan Expected to Gain OK for Parcel 9/Haymarket

  1. I can’t think of any reason in a million why anyone would support the Boston Museum proposal. DOA. Maybe somewhere else, maybe some other time. Get the money together, then we’ll talk. Anything that relies on the state coming through with money should be voted down, no matter what.

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