New Plans Revealed for Downtown Crossing Development in Boston

Millennium Partners unveiled new developments plants this week to build a 600 foot tower, filled with apartments and condominiums, while revitalizing the Burnham Building that once held Filene's, according to a CBS Boston report. Handel Architects designed the new plan for the property, renovating the original 1912 building, conceived by architect Daniel Burnham, and setting it against a new 55 story glass tower.

In February, New York-based Millennium reached a deal to buy into the project — the terms call for Vornado Realty Trust to remain an investor, while other investors would sell their stakes — and come up with a new development plan according to a WSJ article. "The project intends to present the simultaneous and harmonious pairing of new and old, and will consist of uses that will ensure a vital, 24/7 city-sector," Millennium said in a prepared statement.

In a statement Monday, Mayor Thomas Menino of Boston offered support for the new design. "Millennium Partners has always been a real partner of the City of Boston," he said. "They continue to do excellent work leading the way in the building of an exciting new day for the area of Downtown Crossing."

The 1.3 million square foot, $615 million development will be called Millennium Tower/Burnham Building and include 200,000 square feet of office space, 230,000 square feet of retail, 500 condo and rental units plus an underground parking garage. Millennium has held a number of pre-permitting meetings with the Boston Redevelopment Authority to review the proposal, and has already begun the required environmental impact studies for the project under Article 80, expecting to have the results of the studies ready for public review and comment within 60 days, the company said. Millennium says it hopes to start construction by the end of the year, pending approvals.

For more news and information visit Blumberg Capital Partners.