$172 million Residential Tower Receives Approval in Chinatown
Mar 10, 2011
The BRA board approved the plans of Kensington Investment Company, Inc./National Development to build a Class A rental apartment community at the confluence of Boston’s Financial District, Theatre District, Boston Common and Chinatown.
The 27-story project, called The Kensington, will be located at the corner of Washington and LaGrange Streets and will have a total of up to 385 units over 345,000 square feet of residential space. As part of its contribution to affordable housing, the developer has pledged to provide $7.35 million to Hong Lok House, an affordable assisted living facility in Chinatown, which will help provide 75 units of much-needed housing for seniors.
The ground floor of the building will provide 4,000 square feet for community-oriented retail/office space. The project’s design will also reserve portions of this space for use at below-market rents by local nonprofit organizations. The design will also incorporate space for a public exhibit of Gaiety Theater artifacts. The construction of The Kensington will provide new and upgraded open space areas, further enlivening and improving the neighborhood. The project will contribute toward the capital funding required for the restoration, improvements and annual maintenance of Liberty Tree Park.
The Kensington groundbreaking is expected to take place in the summer of 2011, with delivery in summer of 2013. It is anticipated that the project will generate 400 full- and part-time construction jobs.