City Parcel Receives Eight Bids for Hayward Place

BOSTON-Eight developers responded to the Boston Development Authority’s request for proposals to develop Hayward Place, a 37,380-sf city-owned parcel here in the heart of Downtown on Washington Street near Boston Common. The parcel is currently a parking lot, but plans for the site include residential and office space on the upper floors of a proposed building and retail space on the lower floors. Part of the proceeds from the selling price will go to build a school in Chinatown.

This property was the center a heated controversy last year when the BRA seized it, claiming that it was “blighted.” The city council protested the move, insisting that the city seized the land in order to ensure that the council would have no input into its development.

The developers interested in the property include the commercial division of Lincoln Property Co., which bid $20 million; New Development Capital Partners, which bid $13 million; Charles E. Smith Realty Inc., which also bid $13 million; Avalon Bay, which bid $19 million; the residential division of Lincoln Property Co., which bid $23 million; Keen Development Corp., which bid $13 million with a zoning provision for $14.5 million; MDA Partners LLC, which bid $20.5 million; and Trinity Financial, which bid $13 million including a school built on site.