Business Real Estate

Architect Firm Selected For Faneuil Hall Marketplace Improvements

News from Ashkenazy Acquisition Corp., Faneuil Hall Marketplace lease holder:

Ashkenazy Acquisition Corporation announced today that it has retained Elkus Manfredi Architects to guide design plans for anticipated improvements to Faneuil Hall Marketplace in Boston, Massachusetts.  Elkus Manfredi principal, Howard Elkus, will act as the lead architect in crafting a master plan to enhance and revitalize the historic property.  Ashkenazy acquired the 63-year ground lease for Boston’s famed Faneuil Hall Marketplace earlier this fall from General Growth Properties, a Chicago-based real estate investment trust.

“Faneuil Hall Marketplace is one of the country’s most revered historic destinations.  We are committed to preserving its legacy while engaging a community dialogue and becoming an active member within Boston’s urban fabric,” said Barry Lustig, Senior Vice President of Ashkenazy Acquisition Corporation.  “The responsibility of bringing such an iconic property into the 21st century is a once-in-a-lifetime opportunity.  We are thrilled to be collaborating with Elkus Manfredi on this project.”

Elkus Manfredi was selected as the master plan architect based upon its sterling reputation in the Boston area and proven experience with landmark properties.  The firm’s solid history of thoughtful attention-to-detail and delivering outstanding results on highly sensitive, mixed-use developments led Ashkenazy to their appointment.  Ashkenazy will work closely with Elkus Manfredi and the Boston Redevelopment Authority (BRA) to improve and beautify the marketplace while maintaining its authenticity, integrity and historic character.

“Ashkenazy Acquisition Corporation and Elkus Manfredi Architects will make a great team to ensure that Faneuil Hall Marketplace is revitalized, enhanced, and remains a landmark destination for our residents and visitors from all over the world,” said Mayor Thomas M. Menino.

Recognizing Faneuil Hall Marketplace’s status as a national landmark and a centuries-old symbol of the city’s central role in American history, Ashkenazy’s goals for the project are to build upon the property’s unique design characteristics, making necessary improvements to retail spaces and pedestrian passageways in order to attract local merchants and optimize the Marketplace’s visual presence.  The master plan will also include beautified public spaces while paying close attention to the property’s blended, architectural style and historic hallmarks.

“Faneuil Hall Marketplace is one of Boston’s great treasures,” said Howard Elkus, Principal, Elkus Manfredi Architects.  “It is a privilege to join Ashkenazy in making sure that it maintains its special place not only for visitors but for Bostonians themselves.”

A landmark Boston property for nearly 250 years, Faneuil Hall Marketplace is the nation’s premier urban retail marketplace as well as Boston’s top tourist destination.  Its rich history, prime downtown location and vibrant collection of shops and restaurants attract nearly 18 million visitors annually.  Faneuil Hall, a marketplace and meeting hall since 1742, is today part of a larger festival marketplace that includes three major buildings: North Market, South Market and Quincy Market.  The property is owned by the Boston Redevelopment Authority and includes 49 shops, 18 restaurants and pubs, 35 Colonnade eateries, and 44 push carts in the marketplace.

Ashkenazy Acquisition Corporation owns many notable properties across the U.S. including Washington, DC’s Union Station, San Antonio’s Rivercenter Mall, Barney’s New York locations in New York and Beverly Hills.

About Ashkenazy Acquisition Corp.
Headquartered in New York City, Ashkenazy Acquisition Corporation is a private real estate investment firm, focusing on retail and office assets. Ashkenazy Acquisition has acquired over 13 million square feet of retail, office and residential properties, located throughout the United States and Canada. With more than 100 properties and a combined value of over $5 billion, Ashkenazy Acquisition has a superior performance history in purchasing and managing premier assets. Ashkenazy Acquisition is made of an experienced team of in-house, seasoned professionals, including acquisitions, finance, construction, leasing, development and marketing. The integrated team of real estate professionals offers exceptional expertise at all levels of the transaction and subsequent management.

About Elkus Manfredi Architects
Elkus Manfredi Architects, a Boston-based firm with international reach, is a full-service design firm providing master planning, urban design, architecture, interior architecture, and space planning. The firm was founded in 1988 by Howard F. Elkus FAIA, RIBA, LEED AP and David P. Manfredi FAIA, LEED AP.  Elkus Manfredi’s work has set the standard for mixed-use development around the globe. The firm’s portfolio of work includes The Grove in Los Angeles, California; The Shops at Columbus Circle at Time Warner Center in New York City; CityPlace in West Palm Beach, Florida; Downtown Disney in Anaheim, California;; Pacific Place in Seattle, Washington; and The Peninsula Chicago hotel and retail base at 730 North Michigan Avenue in Chicago, Illinois.  Locally, the firm has been recognized for its work on Paramount Center and the Cutler Majestic Theatre for Emerson College, Liberty Wharf, InterContinental Boston Hotel & Residences, and the Copley Place Residential Tower and Retail Expansion.