South Boston

Assignment

In 2013, a Boston based developer engaged FinanceBoston to provide the capital required to assemble and entitle what will become a four plus acre mixed use residential and retail development in South Boston. The developer possessed a unique vision to convert the former industrial area into a contemporary neighborhood. The project, however, faced many challenges. Foremost was the need for multiple financing sources on different parcels over time, while at the same time minimizing publicity in order to complete the assemblage.

Approach

The sponsor’s vision focused on the creation and development of a neighborhood community where residents might live, work, and play. FinanceBoston believed in that vision and was committed to work on the project over a long period of time. We knew that, as a whole, it would eventually be more valuable than the sum of its parts. In this competitive market, it was vital to the success of the project that it gained little to no exposure. FinanceBoston succeeded in leveraging its relationships with both international and local financing sources and thereby allowed for the project to be assembled without competition.

Results

FinanceBoston was able to assist the developer in his vision of assembling and entitling a +/- 1mil sq. ft. mixed-use project in an area of South Boston with unlimited and, until recently, untapped potential. Subsequently, the sponsor entered into a joint venture with a reputable regional developer in order to take the project vertical. This project will be by far one of the largest and most innovative mixed-use developments in Boston’s history and practically, culturally and aesthetically enhance our city.