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New housing, retail, innovation space opens in Waterside Place on the South Boston Waterfront

Jan 30, 2014

Mayor Martin J. Walsh joined MassPort, The Drew Company, and South Boston elected officials to celebrate the opening of Waterside Place, a 350,000-square-foot mixed-use development featuring 236 rental units, a 7,000-square-foot Innovation Center and 10,000 square feet of retail space. The project is located at 505 Congress Street in Boston’s booming Innovation District.

"Today’s event reminds us that Boston’s economy continues to move forward. On the South Boston waterfront alone, there is $1.2 billion of construction underway," said Mayor Martin J. Walsh. "Waterside Place brings significant housing and retail space, as well as an Innovation Center to house entrepreneurs and technology companies as they grow their businesses and create jobs here in Boston. I want to thank the team that came together to make this project happen and congratulate Waterside Place on the opening."

“Waterside Place takes quality living in Boston to the next level,” said John E. Drew, president of The Drew Company. “The Drew Company was a pioneer in developing Boston’s Seaport District and now Waterside Place residents and businesses will be able to enjoy the enormous benefits of this booming neighborhood.”

The LEED Gold-designed 20-story building offers one-, two- and three-bedroom units, 140 parking spaces, 24/7 concierge service and a third-floor Resident Amenity Suite that includes a media room, pub and games room, café, fitness center, library and outdoor deck space with bocce courts, community gardens and a summer kitchen.

Located on three Massport-owned acres between Congress and Summer streets, Waterside Place is adjacent to the  and the MBTA Silver Line Station with easy access to the Massachusetts Turnpike, Interstate 93 and Logan International Airport. Financing for Waterside Place is provided by RBS Citizens, Eastern Bank and Blue Hills Bank

“RBS Citizens is proud to be associated with both The Drew Company and Waterside Place as this exciting project comes to life,” said Gary Magnuson, RBS Citizens’ head of commercial real estate. “The magnitude and quality of this project will add to the vibrancy of the Seaport District for generations to come.”

The Drew Company's past development projects include, the 2.5 million square foot Seaport Hotel and World Trade Center Boston Complex, the 3 million square foot Ronald Reagan Building in Washington, D.C., the Great Woods Center for Performing Arts (now called the Xfinity Center), the Bayside Exposition Center, and Constitution Plaza in Boston, MA.

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