Two Financial Center, located at 201 Essex Street, near South Station, was sold in January, 2007, to a developer who is expected to construct an office building, and not a residential tower, as previously planned.
In fact, the developer originally planned to construct an office tower, but it changed its plan, in 2005.
According to the Boston Business Journal:
In April 2005, the Boston Redevelopment Authority re-approved Two Financial Center to allow for 162 condominiums, 7,600 square feet of retail and a 250-space parking garage. According to a BRA press release, Rose Associates had planned to break ground on the residential building in late 2005 when the project was estimated to cost $110 million. Ultimately, Rose Associates missed the development wave for both the commercial office and residential markets.
Although the space is now zoned for either commercial or residential building, everyone assumes it will be an office tower.
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