Nov 2009 24

copley-place-condos

The grim status quo of the luxury condo market makes it crazy for me to even discuss upcoming developments, but I’m doing it anyway. Although it will be some time until we see the construction of this baby it’s still worth blogging about — also the holiday has slowed down real estate news.

Copley Place owner Simon Property Group told Boston city officials today that it plans to expand the Neiman Marcus store and luxury shops there and build residential condominiums in a new, 47-story tower.

“The expansion of Neiman Marcus and the specialty shops will ensure the City of Boston’s retail pre-eminence within the entire metropolitan region,” Simon, based in Indianapolis, said in a press release.

The filing provides details of previously announced plans for Copley Place’s final large structure.

The development will include a complete renovation of the 115,000-square-foot Neiman Marcus store and an addition of 54,000 square feet. An additional 60,000 square feet of expansion will include new retail shops and restaurant space and a “public winter garden,” which will replace the existing Stuart Street plaza.

“Residences will take the form of 300 luxury condominiums with 24-hour concierge service, plus a health facility, spa, and residents’ library,” Simon said.

The first four floors of the tower will be commercial and retail space, topped by 43 floors of residential. The 47-story tower will be slightly smaller than the 52-story Prudential Tower and the 60-story John Hancock Tower, both located nearby in the Back Bay. Currently, the tallest building in the Copley Place complex is Westin Copley Place, at 36 stories.

Other neighboring Back Bay luxury buildings include The Clarendon (Beal/Related), 285 Columbus Lofts (Boston Residential Group) & The Residences at the Mandarin Oriental (CWB).

Link to Official BRA Project Filing.

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