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Cresset Development Boston Builds New Seaport District Housing at 411 D St. in South Boston

Boston developer plans housing near convention center

By Greg Turner |  Article Courtesy of:  http://www.bostonherald.com
Cresset Development Boston 411 D St. in South Boston

Cresset Development Boston 411 D St. in South Boston

Cresset Development has filed plans for a pair of buildings with 197 residential units and ground-floor retail at 411 D St. in South Boston, city planners announced today.

The $60 million, 200,000-square-foot project will replace a two-story warehouse located near the convention center and Westin Waterfront Hotel.

The existing two-story property, which Hub-based Cresset bought earlier this year for $7.3 million, used to house the headquarters of commercial printing company Bowne Inc.

The new buildings — one five stories, the other six — would include 26 units of so-called “Innovation Housing,” or smaller, cheaper residences with shared common areas and flexible layouts that would meet a city program for affordable housing in the Seaport District.

There will be parking for 129 vehicles behind the new buildings. The project will generate about 200 construction jobs and 12 permanent jobs.

Cresset detailed its plans in a 195-page expanded project notification form filed with the Boston Redevelopment Authority.

The Boston Civic Design Commission is set to review the proposal at its meeting on Tuesday.

Article URL: http://www.bostonherald.com/business/real_estate/view.bg?articleid=1392146

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About Cresset Development

Cresset is comprised of three operating companies, which integrate the key components of real estate investment — development, construction and property management — creating a sustainable competitive advantage for investors and clients.

Cresset advantages:

  • Direct involvement of our principals in every transaction throughout its lifecycle
  • Small-firm entrepreneurial approach
  • Established company process to handle any issue that may arise
  • Long-term working relationships among senior management
  • Unsurpassed integrity

Cresset Development, LLC

Real estate is a cyclical asset — opportunities change and evolve as the local market, economy and capital markets adapt to external forces. That’s why Cresset Development, LLC works to anticipate shifting market trends and responds by structuring investments that are resilient over the long-term. Since our collective experience enables us to analyze each opportunity from many angles, we treat each investment as a stand-alone business, tailoring its business plan to capitalize on strengths while marginalizing its weaknesses.

Cresset Builders, LLC

Cresset Builders, LLC offers construction planning, management and related services for projects of all sizes. Cresset provides services to plan, permit, construct and manage real estate projects from ground-up construction to historic rehabilitation, expansion, renovation or tenant build-out. Many of Cresset’s principals have direct experience in general contracting, which heightens attention to detail in areas normally overlooked by those lacking such a broad depth of construction knowledge.

Cresset Management, LLC

Cresset Management, LLC offers a focused approach to property and asset management services for commercial and residential properties. By providing on-site management, tailored reporting and cost control, we add value and create tenant/resident satisfaction. Our process begins with a comprehensive preventative maintenance plan designed to avoid unnecessary repairs and capital costs that can also create disruptions for our tenants/residents. We believe that short-term horizons should not determine the stewardship of a long-term asset. In addition, we also continue to evaluate “green technology” and what it can mean for the bottom line as well as the greater community.

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