They just recently tore down the old Gaiety Theater (which was news to me, but I haven’t been down in Chinatown for awhile). Now, don’t be thinking you might have gone to the movies there, recently – it was nothing but a old concrete building, mostly boarded up, and in serious disrepair, for years. Some preservationists wanted it to be saved, I don’t understand why.
Anyway, the building was torn down to make way for a 30-story apartment building, but now the developer has decided to make the top ten floors high-end condos. Ouch. That’s a bit sneaky, in my opinion.
By Scott Van Voorhis, Boston Herald
A hotly contested proposal for a new residential tower near Chinatown will now feature luxury condominiums on its top floors, the Herald has learned.
Kensington Development is quietly moving ahead with plans to sell the top 10 floors of its 30-story residential tower, slated to take shape on a run-down block off Washington Street in the heart of the former Combat Zone, as top-of-the-market condos, real estate executives said.
The unheralded move represents a major shift by the project’s developers, who finally won approval for an all-rental tower from City Hall after a months-long and bitterly contested community review process.
The move is expected to help the South Boston development firm, headed by city builder Ralph Cole, capitalize on a roaring condo market and nail down financing for the roughly $120 million project, executives said.
Complete article: Developer wants condos at Washington St. site