Hanover Co. announces two major developments in Boston
Hanover Co., a Houston-based developer, has its sights set on Boston. The developer announced that it will break ground on two apartment complexes by the year’s end. The developments, one in Boston and the other in Cambridge, are the newest additions to Boston’s ever-changing skyline.
The Cambridge development, a 398-unit apartment complex, will commence next month on a $25.6 million 4–acre parcel near the Alewife MBTA station. David Hall, a Hanover executive, stated that Hanover is optimistic about “the access to transit at the Alewife station and the biotech and pharmaceutical activity that Cambridge is well known for.”
The Boston development, a 369-unit apartment complex at Pier 4, will rise 21-stories. Hanover purchased the lot on Pier 4 for $24.6 million from New England Development.
Real estate development is thriving in the Boston, with similar apartment projects underway in the area. In fact, Hines, another Houston-based developer, announced plans to construct a 244-unit complex just across the way from Hanover’s site (The Boston Herald).
For more information on other projects underway in the Boston area, click the links below: