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Old 04-05-2019, 12:53 PM   #1
FitchburgLine
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Proposed Office Tower | 125 Lincoln St | Leather District

https://twitter.com/SteveAdamsTweet/...23205814870017
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Just in: Oxford Properties proposes 625K SF, 24-story office tower in redevelopment of 125 Lincoln St. garage in Leather District
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Old 04-05-2019, 01:16 PM   #2
12345
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Re: The New Office Thread

Wow, the office market is hot.
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Old 04-05-2019, 02:10 PM   #3
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Re: The New Office Thread

https://www.bizjournals.com/boston/n...chinatown.html

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Oxford Properties plans to demolish a five-story parking garage, office and retail building near Boston’s Chinatown Gate, and develop 24-story tower in its place.

Oxford notified the city of its intent to develop the 625,000-square-foot office tower at 125 Lincoln St. in an April 5 letter to the Boston Planning and Development Agency.

“This site represents a tremendous opportunity to transform and improve the public realm at this corner of the Leather District, as well as create a stronger connection to the Greenway and Chinatown,” said Mark McGowan, vice president and head of development in Boston for Oxford Properties. McGowan spent nearly a decade at Skanska USA Commercial Development, one of the busiest real-estate developers in Boston’s Seaport District, before joining Oxford earlier this year.

Oxford Properties — the real-estate arm of Canadian pension fund OMERS — acquired 125 Lincoln St. in 2017 for $40 million.

Oxford first entered the Boston real-estate market five years ago with a 2.7 million-square-foot acquisition of office properties across the city. Since then, it's invested $1.3 billion to acquire 500 Boylston St. and 222 Berkeley St. — which now host the headquarters of online sports betting site DraftKings Inc. and a large office for e-furniture retailer Wayfair — as well as acquiring an apartment complex in Jamaica Plain.

“Our team is excited to take the first step in the permitting process” at 125 Lincoln St., said Chad Remis, head of Oxford’s Boston office. “We look forward to continuing our outreach to the community and neighbors and working through more details in the weeks and months ahead.”
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Old 04-05-2019, 02:18 PM   #4
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Re: The New Office Thread

Great news. Thats a good spot for more density too. This is another example of there being more room than ppl realize to build on too.
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Old 04-05-2019, 02:19 PM   #5
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Re: Office Tower | 125 Lincoln St | Leather District

dbl post.
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Old 04-05-2019, 02:20 PM   #6
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Re: Office Tower | 125 Lincoln St | Leather District

Sorry Stick! I keep moving things on you!
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Old 04-05-2019, 02:22 PM   #7
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Re: Office Tower | 125 Lincoln St | Leather District

All good I had no idea what was going on for a second there lol.

But yea 24 floors is good enough density for something that wasnt even on anybodys radar. I had completely forgotten this even existed and I dont remember anybody peggind this for potential expansion. Theres more where this came from too and 12345-greatest user name ever, your right, the office market really is on fire all of a sudden where we were riding pure residential for a while besides lab space. I wonder why not taller though? Maybe it has to do with the glut of office coming online. Radian is 26 stories so this is proposad at 2 stories less. Depending on the roof they should be pretty close in height.
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Old 04-05-2019, 02:27 PM   #8
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Re: Office Tower | 125 Lincoln St | Leather District

Why so small? Isn't this one of those sites that could go 600'+? The garage has a hefty enough footprint that 24 stories is going to be another fat stump.
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Old 04-05-2019, 02:31 PM   #9
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Re: Office Tower | 125 Lincoln St | Leather District

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Originally Posted by DZH22 View Post
Why so small? Isn't this one of those sites that could go 600'+? The garage has a hefty enough footprint that 24 stories is going to be another fat stump.
this ^^^
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Old 04-05-2019, 02:31 PM   #10
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Re: Office Tower | 125 Lincoln St | Leather District

LOI:

http://www.bostonplans.org/documents...tter-of-intent

Last edited by Equilibria; 04-05-2019 at 02:48 PM.
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Old 04-05-2019, 02:31 PM   #11
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Re: Office Tower | 125 Lincoln St | Leather District

Quote:
Originally Posted by DZH22 View Post
Why so small? Isn't this one of those sites that could go 600'+? The garage has a hefty enough footprint that 24 stories is going to be another fat stump.
It's easier to build quickly than wasted time and money having protracted fights with Chinatown and Leather district, a la Two Financial Center. Build it and flip it...

I bet we end up with 18 floors, or less, when all is said and done.
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Old 04-05-2019, 02:32 PM   #12
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Re: Office Tower | 125 Lincoln St | Leather District

My guess is the enormous amount of offices coming online all at once now. Still Im sure if they looked they could secure tenants, or maybe they have we dont know. Would be nice to try to utilize the site to its potential, they could always throw condos/hotel on top...
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Old 04-05-2019, 02:35 PM   #13
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Re: Office Tower | 125 Lincoln St | Leather District

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Originally Posted by Equilibria View Post
“We anticipate the project will obtain necessary zoning relief from the zoning board of appeals” Welp theres the answer to the 24 floors.
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Old 04-05-2019, 02:44 PM   #14
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Re: Office Tower | 125 Lincoln St | Leather District

Another ugly structure bites the dust,
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Old 04-05-2019, 02:48 PM   #15
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Re: Office Tower | 125 Lincoln St | Leather District

Quote:
Originally Posted by stick n move View Post
“We anticipate the project will obtain necessary zoning relief from the zoning board of appeals” Welp theres the answer to the 24 floors.
This site is in a weird spot for FAA height limits. The whole thing is in the 750'-775' zone, but the boundaries of that zone are literally the boundaries of the site. Across Beach Street the height limit drops to 325'-350'.

24 stories of office is around 425', so they may be thinking that this is the highest the FAA won't object to.

As importantly, though, this site has a potentially enormous street-level experience impact on the Greenway frontage.
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Old 04-05-2019, 02:51 PM   #16
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Re: Office Tower | 125 Lincoln St | Leather District

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Another ugly structure bites the dust,
Good riddance.
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Old 04-05-2019, 02:53 PM   #17
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Re: Office Tower | 125 Lincoln St | Leather District

Quote:
Originally Posted by stick n move View Post
Radian is 26 stories so this is proposad at 2 stories less. Depending on the roof they should be pretty close in height.
That is residential vs this being office. This will be taller than Radian.
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Old 04-05-2019, 03:02 PM   #18
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Re: Office Tower | 125 Lincoln St | Leather District

I feel like this site could use the original millenium winthrop center style lobby:


Hopefully some Ctown groups can negotiate some of this ground floor space.
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Old 04-05-2019, 03:07 PM   #19
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Re: Office Tower | 125 Lincoln St | Leather District

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Good riddance.
Agreed re: the garage (which is just awful), but I hope Hei La Moon finds a new home.
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Old 04-05-2019, 03:19 PM   #20
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Re: Office Tower | 125 Lincoln St | Leather District

That is a classic Odu line, but is very apt for this site. You could slot a 600 footer here and no one would notice and defs would not cast a shadow on the park.

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Originally Posted by DZH22 View Post
Why so small? Isn't this one of those sites that could go 600'+? The garage has a hefty enough footprint that 24 stories is going to be another fat stump.
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