Boston, MA | 6.3 million sq ft / 23 acres

Seaport Square

2007: Newly acquired 23-acre, 1 million square foot, 3,600 surface parking lot property depicted at center. BGI assembles a team of world-class consultants and “Seaport Square” begins to take shape
2012: Seaport Square is fully entitled and construction of public realm projects begin at Q Park and the F Parcel (including F Park, District Hall & the Massachusetts Fallen Heroes Monument)
2013: District Hall and Q Park reach completion while the transacted parcel at 101 Seaport remains under construction
2016: The 1.1 million square foot mixed-use project "One Seaport", (The Benjamin and Via Residences and retail platform), nears completion at the entry way to Seaport Square across the Moakley Bridge
2019: An aerial view of Seaport Square from the Financial District, with Seaport Square’s Envoy Hotel and Benjamin Residences at the foreground entrance to the Seaport District
2019: A western view of Seaport Square with nearby Logan Airport across Boston Harbor, only 10 minutes away via car, water taxi, or the MBTA Silverline
2020: Seaport Square today, with the stunning transformation of underutilized parking lots to over $3 Billion of construction projects completed under BGI’s Master Plan

Seaport Square is Boston’s most vibrant and stunning new community. Masterplanned as a live-work-play neighborhood, Seaport Square brings an exciting mix of world class office and research space, luxury and workforce residences, retail shops and restaurants, and hotel and civic space.

After partnering on the developments of One Lincoln Street (Boston) and New Songdo City (South Korea), Boston Global Investors and Morgan Stanley joint ventured to purchase 23 acres in the Seaport in 2006 for $205 million. At the time, the land contained 3,600 surface parking spaces and totaled 1,002,425 square feet.

Upon land acquisition, BGI assembled a team of consultants led by Kohn Pederson Fox and Add Inc. (Stantec) to devise a plan and create 22 new urban blocks within the 23-acre site, branded as “Seaport Square.” BGI met with local constituents and community groups to discuss impact and design reviews, and ultimately obtained the necessary permits and approvals from municipal, state, and federal agencies. 

Between 2010 and 2015, BGI, as Managing Partner, completed nine land sale transactions of individual parcels for a total of $187 million. Then, in the summer of 2015, BGI and Morgan Stanley agreed to sell the remaining 3 million square feet. The resulting land sale totaled $479 million – the largest in the City’s history. 

In addition, the benefits to the public sector cannot be understated. In 2006, Seaport Square was a collection of underutilized parking lots, with an assessed value of $39 million, employing 6 people and generating $1.2 million in real estate taxes per year.

To date, the Masterplan has successfully completed over $3 billion of construction projects, which have created approximately 10,000 construction jobs, 20,000 permanent jobs, and over 160 affordable rental housing units.

Commercial property values throughout Seaport Square are currently estimated at approximately $3 billion, resulting in increased real estate tax payments to the City of Boston of approximately $45 million annually.