The $450 Million Fenway Center construction could hopefully get underway within the year announced the developer whose optimistic about the first tenants being able to move into the luxury apartments on Beacon St. by early 2015. There has been some positive movement on the 1.3 million sq.ft. project in recent days, but there may be some obstacles yet to hurdle. Financing plans are going now going forward according to the developer now that the lawsuit has been dismissed. The owner of Meredith Management says he is expecting to begin construction by the end of the year or early next year.
The project will be built in two phases, with the first phases including 3 buildings and one parking garage, for the 420 luxury apartments and 60,000 sq. ft. retail spaces, and 1000 parking spaces. Two of the buildings including a 13 story apartment building will be built on land along Beacon St. The parking garage and a third building will be built on top of a deck to be constructed over the Massachusetts Turnpike.
Phase two of the project will include the extension of the deck further west over the Turnpike so to accommodate a forth new building; a 27 story mixed use structure of 160,000 sq. ft for offices and 130 more apartments. There might be the possibility of these apartments being built as condos if the economy continues to improve.