From today’s Boston Herald:
While residential projects stall due to the financial crunch, one developer is bullish on converting a Downtown Crossing office building into apartments.
This will be the only moderately priced rental building in the downtown, said Harold Brown, chairman of the Hamilton Co., the Allston-based landlord who owns more than 2,300 units in Greater Boston.
Brown intends to transform the 12-story mid-rise at the corner of Winter and Washington streets into 51 apartments. In a shopping district where a 550-square-foot luxury studio apartment at the Archstone Boston Common on lower Washington fetches $2,855 and rents at the nearby Devonshire range from $2,200 to $4,300, Brown will offer one-bedrooms for $1,750 and two-bedrooms from $2,200.
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