A development team has filed a letter of intent with the Boston Redevelopment Authority to build a 31 unit, upscale luxury condominium building in Boston’s Midtown Cultural District on Tremont Street. The current building located at 171-172 Tremont Street will be demolished and replaced with the new luxury condo development.
According to the letter of intent, the current office building is located directly across from Boston Common at the corner of Tremont Street and Avery Street. It is also adjacent to the Parkside Condominiums, the AMC Loews Boston Common 19 movie theater and MBTA’s Boylston Green Line stop, making for a “spectacular location” according to the letter of intent. The letter of intent shows the property’s principal owner and developer as Maurice Dabbah, of Switzerland, and joint venture partners being Matthew Snyder and David Ridini, principals of Center Court Boston LLC. David Raftery will be the Boston based architect, with Boston based Elkus Manfredi Architects working as architect and VHB as civil engineering contractor for the new project. The property, located at 171-172 Tremont Street, had been owned for more than 10 years by Millennium Partners. According to a Suffolk County deed, the $16.4 million acquisition closed in June of 2014.
Millenium Partners acquired the property in 1999 for $4 million. The letter of intent did not state any development costs for the new residential tower, nor did it state a time line for the 31 unit condo project. The new owners says it expects to file a project notification form with the Boston Redevelopment Authority in about a month.