LAND DEAL FOR NEW HOTEL FINALIZES

A $33 million land acquisition deal was completed by the Massachusetts Convention Center, for the 5.6 acre new hotel site to be located near the South Boston exhibit hall along D Street.

Two mid priced hotels with approximately 400-500 rooms are planned in this area.

Two mid priced hotels with approximately 400-500 rooms is planned. Construction could start by the end of 2013, with the hotels opening around mid 2015. The possibility of parking garages tied to a proposed $2 billion expansion of the convention center could take place on the same land parcel. “This is a huge and very real step in our expansion plans, and one that sets the ball rolling,” said Jim Rooney, executive director of the convention center authority. The hotels would likely be privately financed and operated. The convention center authority estimates $2 million in annual hotel ground rent and parking fees. The project could generate another 370 construction jobs and 175 permanent jobs.

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MAXWELL@BOSTONLUXE.COM • CELL: (617) 543-7754 • OFFICE: (617) 267-4600 Maxwell Burke began his real estate career nearly 20 years ago doing appraisals with his father in Southern California and Northern Texas. He grew up in a family environment so oriented towards investment and real estate that to call his upbringing entrepreneurial would be a disservice. From his grandfather's multiple developments ranging from British Columbia down into Southern Mexico to his uncle's holdings in Portland, Oregon, Maxwell has been given a view not just of Boston real estate, but of American real estate. Maxwell and Drew Abysalh met in 2009 and increasingly consolidated their business models together culminating in their partnership in 2011. With over 300 real estate deals under his belt ranging from a standard rental to a $1.5 million condo conversion, Maxwell is a tremendous resource to help you realize your real estate dreams. Welcome to Boston Luxe - it's a pleasure to meet you. Google

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