Fidelity’s former headquarters to be redeveloped?
Fidelity Investment is considering a possible sale of its former headquarters in downtown Boston on Devonshire Street, reports the Boston Herald. The site is expected to garner significant interest due to redevelopment prospects.
The block could be redeveloped into an office tower up to 400 feet tall. Fidelity has hired CBRE New England to market the four buildings for sale/lease at 82 Devonshire Street.
Given the desirable location of the block, Fidelity is working with city planners to see how developers could develop a lucrative project within zoning rules.
Due to the historical nature of the buildings located on the Devonshire block, developers may face issues proposing a modern skyscraper. However, in the past developers have built modern towers set back from the street, which leaves the façade of the original building intact. For example, the Exchange Place was constructed over the Boston Stock Exchange building, a landmark on State Street.