Transformation of a dilapidated industrial parcel into office space, luxury condominiums and new waterfront public space is nearing completion at Boston’s Lovejoy Wharf.
The first residents will begin moving into developer Related Beal’s 15-story, 157-unit condo building at 131 Beverly St. in a few weeks. Asking prices start at $750,000.
The 260,000-square-foot brick-clad structure designed by Robert A.M. Stern Architects abuts the 187,000-square-foot Converse world headquarters redeveloped by Related Beal in 2015 and sold to German investors in 2016 for $150 million. As part of that project, developers completed a new section of the Boston Harborwalk connecting to the North End.
The site also is expected to play a key part in an expanded commuter ferry program linking the MBTA’s North Station to the Seaport District. The Massachusetts Convention Center Authority is preparing to seek proposals from high-speed ferry operators for the pilot service next year, which would be partially subsidized by Seaport employers.
“This location with the Green and Orange Line, commuter rail, future water transportation and great pedestrian amenities is a great spot to spotlight the idea of transit-oriented development,” Transportation Secretary Stephanie Pollack said at a ribbon-cutting ceremony Thursday.
The Related Beal property sits on the edge of a major development corridor. On the opposite side of Causeway Street, Related Beal is constructing a 484,000-square-foot workforce housing and hotel project scheduled for completion in 2018. And Boston Properties is building office space and retail in the first phase of its Hub on Causeway redevelopment of the TD Garden parking lot in a partnership with Delaware North Cos.
Unlike the existing corporate shuttle bus services from North Station to the Seaport, the ferry service is expected to be available to the general public. A $1.2 million floating dock would be installed at Lovejoy Wharf using a state grant and developer’s contributions.
“From MassDOT’s perspective especially if there’s an expectation of a public contribution to the capital side of things, we would expect any member of the public to be able to use the system,” Pollack said.