Carr Properties and partners break ground on One Congress office tower in Boston
June 22, 2019 – Carr Properties, National Real Estate Advisors and the HYM Investment Group along with Boston Mayor Martin J. Walsh have broken ground on One Congress, the 600ft tall office tower, in Boston, Massachusetts.
The groundbreaking event marks the beginning of the tower’s construction, which is a portion of the Bulfinch Crossing project. It is slated for completion by the end of 2022.
The 600ft tall tower will act the future headquarters for State Street Corporation and it is part of the Bulfinch Crossing redevelopment, owned as a joint venture between Carr Properties and National Real Estate Advisors. HYM Investment Group is the developer of the project.
Designed by Pelli Clarke Pelli, the One Congress building is expected to become a new fixture of the Boston skyline, offering one million ft² of new Class A office space for employees who will occupy the space.
The building will offer panoramic view of the city, the Boston Harbour, Financial District and the Charles River. The building will have amenities such as outdoor roof garden on the 11th floor, more than 30,000ft² of fitness, wellness, food and beverage offerings, along with bike facilities and copious parking.
Walsh said: “As the future home for State Street’s headquarters, One Congress will fuel economic development and pedestrian activity in Bulfinch Crossing.
“Once complete, this transformational project will support our city, creating income-restricted housing units and contributing over $12 million in linkage funding to support additional affordable housing and workforce development programming.”
Carr Properties CEO Oliver Carr said: “We are incredibly excited about One Congress. This is a generational opportunity to own and develop an iconic building that will contribute to the fabric of Boston for many years to come.
“Additionally, we are thrilled to welcome State Street as our customer and we look forward to building a tremendous long-term relationship with them.”
In January, State Street, the Boston-based Fortune 500 financial services firm, announced that it would relocate its headquarters to One Congress and will occupy 510,000ft² of the one million ft² of the building space.