Millennium Tower Boston Sales Center Opens, Meaning Big Changes Are Closer for Downtown

0
Posted October 24, 2014 by Andrew Luke in Business
Millennium Tower Boston Penthouse

With a fanfare unprecedented for this kind of event, Millennium Partners announced yesterday the opening of the sales center for the residences of Millennium Tower Boston. For our local press, the big takeaway was that the 60th floor penthouse atop the high-profile building is selling for $37.5 million. This piece of news was everywhere…The Globe, The Herald, the BBJ…it was hard to miss. The Millennium Tower Boston project has rightfully garnered a ton of attention from the start, and the press is right to pick up on this extraordinary element to this story.  Here at The Voice, however, we think there are other elements, ones that truly impact the area, which should not be overlooked.

Don’t get us wrong….Millennium Partners deserves to have a successful ending to this project. After all, they assumed all the risk when they undertook this venture. It is an oft-told yet still remarkable story, how this came to be.

Millennium Tower Boston sits atop the infamous crater left behind by bankrupt developers at the site of the former Filene’s building. The abandoned project was a long standing blight until Millennium not only rescued, but transformed it into what is shaping up to be the city’s most spectacular residential address. It will be the kind of address that can command $37.5 million for 12,846 sq. ft., the priciest property in Boston’s history.  But the transformation of the site, and in conjunction, that of the neighborhood surrounding it, is the most impressive part of the story.

The residential tower is estimated to house about 1000 new downtown residents when its 442 units are occupied. Five years ago, with development projects stalled and those that were completed resulting in buildings sitting empty, who would have predicted 1000 people would want to move downtown? That’s what Millennium Partners has done. They saw the potential in the downtown area, and invested heavily in its appeal. The new Tower will be adding to the infusion of homeowners Millennium has already brought to the neighborhood in the past decade. From the Ritz-Carlton Towers and Millennium Place in the Avery corridor, and now with Millennium Tower Boston, Millennium Partners projects have been a significant force in turning downtown from an up-and-coming to a must-have residential area.

If you’re unconvinced that downtown is now a must-have neighborhood in Boston, you haven’t been paying attention. Housing inventory downtown sits at historic lows. Here is a telling illustration: prior to today’s opening to the public, 150 of the Tower’s residences have already been sold. That’s more than one-third of the building, including three $9 million dollar penthouses, already gone before the long list of hopeful soon-to-be owners has had a chance to walk in the door.

“The response has been overwhelming, both in interest and sales”, said Richard Baumert, partner at Millennium Partners.

This positive response to the project is in keeping with how it has grown for the neighborhood itself. It is unlikely that any Boston neighborhood has ever changed this much this quickly. Locals are familiar with how far the area has come, but the improvements have also been noted and written about nationally and internationally.

“It’s extraordinary to see Millennium Tower Boston take shape in vibrant Downtown Crossing”, Baumert said.

Club Level Millennium Tower

The Owner’s Lounge will be located on the Club level. Photo Courtesy of Millennium Partners.

Baumert and his partners have developed this project with both the past and future of Downtown Crossing in mind. They are building the gleaming, modern Tower adjacent to the beautifully restored and historic Burnham Building, left intact and true to its 1911 design outside, refurbished and modernized to house office and retail space inside.

The Burnham Building is spectacular in and of its own, but the Tower is the crown jewel of the site. The Tower has everything from 24-hour concierge and valet services to an elegant two-level Club with a private health club (complete with an expansive indoor lap pool), in addition to a dedicated Club Concierge, serviced lounge and function room, and exclusive culinary offerings.  Millennium’s signature lifestyle program, La Vie®, will present an immersive and exclusive social calendar to connect residents with specially curated Boston experiences inspired by their passions for fitness, food, travel, art and culture.

For foodies, perhaps the vanguard amenity will be Mina at the Tower. The Club will offer the only signature dining experience by celebrity chef Michael Mina in New England. It will be exclusively for residents and their guests.

In keeping with the high-end quality and experience the Tower is expected to deliver, the new sales center has been designed to match. Potential buyers will find, among several other features:

  • A dramatic 3-D model of the neighborhood
  • A 13.5’ x 7.5’ 4K screen displaying aerial videography, photography of the 360-degree sky-high views and full-scale 3-D renderings
  • Plan rooms, where guests can review floor plans, views and renderings on an interactive collaboration tool

It’s been talked about for years, speculated on for months, and heavily anticipated in the weeks leading up to today’s opening. Now prospective buyers can finally experience this project up close and personal before the Tower opens to residents in 2016.

And once again, Downtown Boston will never be the same.


0 Comments



Be the first to comment!


You must be logged in to post a comment.