Equity Office Properties of Boston announced their plans for more than 130,000 square feet of additional office, retail and restaurant space at 500 Boylston Street.
Plans call for a conversion of an outdoor courtyard space with a 5 story, 80,000 square foot retail and office facility, and to convert up to 50,000 square feet of the building into retail spaces.
John Conley, senior vice president of Equity Office Properties in Boston, submitted a notice of intent with the Boston Redevelopment Authority on March 13th outlining the company’s goals. The notice of intent also states that Equity plans to add two vestibles at the adjacent 222 Berkeley Street, and convert 8350 square feet of office into space for a new restaurant.
The two properties will span 1.3 million square feet and have a combined value of $904 million. Equity intends to file a project notification form with the Boston Redevelopment Agency in mid April. Conley stated that this reinvestment is a reflection of the company’s belief in the building and the overall strength of the Boston market. No details regarding the project team, anticipated development costs or timeline were disclosed.