BRA Unveils Hayward Place Proposals

BOSTON-The Boston Redevelopment Authority has released the eight proposals it received to develop Hayward place, a 37,380-sf parcel that is currently a parking lot located in the heart of Downtown by the Boston Common.

The bids ranged from $13 million to $23 million but all are for mixed-use projects, as specified by the BRA, with proceeds going towards building a school in Chinatown. No specific date has been set for final selection of a building plan.

New Development Capital Partner’s $13-million bid involves an eight-to-13-story building with seven floors of office space as well as condominiums. Charles E. Smith Realty’s bid–also coming in at $13 million–includes a 16-story building with 15 floors of rental units and 17,500 sf of ground-floor retail. Keen Development Corp. also came in with a $13 million bid but added an option for a $14.5 million bid if the BRA would allow a building higher than the current 155-foot limit. Keen proposed putting in 150 units, 40 extended apartments and retail space.

Trinity Financial’s proposal includes building the school on the site on 150,000-sf of space. The remaining project would include 185 mixed-income housing units. Avalon Bay Communities’ $19 million bid involves 300 housing units.

At $20.5 million, Millennium Partners Boston is the second highest bidder and proposes developing a 12-story building, which includes a two-story department store and office space. The high bidder, the residential division of Lincoln Property Co. at $23 million, is proposing 342 rental units with 10,000-sf of retail space. Lincoln’s commercial division bid $20 million to develop retail and office space.