Developer Proposes 740-Foot Boston Skyscraper

A new $900 million, 740-foot skyscraper is being proposed for Boston’s Financial District. If approved, the skyscraper would be the tallest building in the Financial District and the third tallest building in the city. Entrepreneur Steve Belkin is hoping to receive approval for the tower after failing to receive enough interest or funding for a 1,000-foot building at the same location in 2006. If built, the complex would include office and retail space, a 300-room hotel, and possibly condominiums on the upper floors. The tower would be one of a few skyscrapers built in the area since the 1980s.

The building is proposed to be built on a piece of city-owned land currently occupied by parking structure that has been closed for structural reasons for close to a year. Steve Belkin also owns a building next door to the plot of land. His plan calls for combining the two buildings at the ground floor to create a 72,000 square foot lobby with restaurants and shops. Belkin was chosen by then mayor Thomas Menino to develop the property in 2006 but the project failed to attract enough tenants or funding due to the financial crisis. In order to build the tower, Belkin will not only need to purchase the land from the city, he will also need to receive approval from the Boston Redevelopment Authority. 

Belkin says he plans to find a co-developer in the next few weeks. He then must decide whether or not to include condominiums on the top floor. Belkin is also in discussion with a major tenant for the building but declined to name the potential tenant. CBT Architects of Boston is preparing a final revised version of the building from its original 1,000 foot drawings. Belkin hopes to begin construction in 2015.