John Hancock Financial has taken a major equity stake in The Residences at Boston Landing, the 295-unit luxury apartment tower scheduled to open in June 2018 at the 2.5 million-square-foot Boston Landing development in Brighton.
The 17-story tower at 125 Guest St. designed by Elkus Manfredi Architects includes 16,400 square feet of ground floor retail, a 20,000-square-foot outdoor courtyard and pool, resident lounge and fitness space. Terms of the investment announced today were not disclosed.
New Balance’s new 250,000-square-foot headquarters opened in 2015 as the first major element of the mixed-use development off Guest Street. The project also includes a 10-story, 190,000-square-foot office building at 80 Guest St. The Boston Bruins’ Warrior Ice Arena practice facility opened in September, and the development team broke ground in October on The Auerbach Center at New Balance World Headquarters, a 70,000-square-foot practice and training center for the Boston Celtics.
NB Development Group is the sponsor of the project being built by John Moriarty & Assoc. of Winchester. HYM Investment Group is the development manager and Moran & Co. is the investment banker.
Brighton has become a multifamily development hotspot, with Stop & Shop Supermarket Co. recently meeting with Boston Planning and Development Agency officials to discuss preliminary plans for approximately 1,000 housing units at its 11-acre property adjacent to Boston Landing.