Fenway Center Update June 2016Fourteen years after he began planning a major development in the air over the Massachusetts Turnpike at Kenmore Square, developer John Rosenthal says he is finally ready to start work. Construction would commence with the part of the project that would sit on firm ground.

Talking Points | Tim Logan | June 25, 2016 | Boston Globe

On Wednesday, Rosenthal and his development partners said that they have raised $230 million in financing and expect to soon begin construction of two apartment buildings on parking lots near Fenway Park. That would be the first phase of the long-delayed Fenway Center, a nearly $600 million complex that will include three other structures over the turnpike between Beacon Street and Brookline Avenue, including a 27-story tower.

The project has long promised to accelerate the transformation of Kenmore Square. But for more than a decade it has struggled, largely because of the cost of constructing a massive deck over one of the busiest highways in Boston, as well as over a commuter rail line. So Rosenthal and the Portland, Ore.-based development firm Gerding Edlen are breaking it in two. Part one will be the apartment buildings — 313 units in all — on the corner of Beacon and Maitland streets. Rosenthal was adamant that he will still build the more difficult part over the turnpike. But splitting such a large endeavor into two is a way to make that happen, he said. The plan hinges on state officials letting Rosenthal change course.


Sharing Meredith Management