Winthrop Center Secures $ 775 Million Building Loan to Advance Boston’s Most Eco-Friendly Design and Healthiest Office

BOSTON, October 15, 2020 / PRNewswire / – Millennium Partners Boston, a local affiliate of internationally renowned developer Millennium Partners, is proud to announce that it has been awarded a $ 775 million construction loan from real estate finance and investment company Cale Street Investments for Winthrop Center, the 691 feet, $ 1.30 billion development in the heart of Boston. Ahead of others racing to integrate health and wellness features into buildings in response to COVID-19, Winthrop Center has prioritized high indoor air quality since its initial inception and approval. in 2018 and will be built to provide fresh air to each office floor. Setting the new global standard for integrating health and wellness, sustainability and technology into building design, Winthrop Center will offer 812,000 square feet of world-class office space A, 572,000 square feet residential space, including 321 luxury residences, and Boston next large public space at the end.

Designed by Handel Architects to address not only environmental and sustainability concerns, but also the health and productivity of its occupants, Winthrop Center responds to the growing sense of responsibility people have to reduce their carbon footprint, while providing better air management and other passive house health benefits. design. The building will obtain LEED Gold certification for its residential part, LEED Platinum certification and WELL Gold certification, the main tool for advancing health and well-being in buildings around the world for its office spaces, and will become the largest and most advanced Passive House office building in the world. .

“Securing the construction loan from Cale Street Investments – an unprecedented investment given the global pandemic – ensures that Winthrop Center will stay on schedule to be completed in 2022, when it introduces a new model for them. office environments and will surpass current best-in-class standards. », Said the founder of Millennium Partners Christopher M. Jeffries. “Since its inception, human-centered design, sustainability and flexible workspaces have been the foundation of Winthrop Center, and innovation is at the heart of Boston DNA, the city is the perfect home for this legacy building. ”

Fueled by academic research from Boston great minds, Winthrop Center is redefining how cutting-edge urban research, architecture, technology, sustainability and engineering can shape a building and impact the productivity, well-being and social engagement of people at inside. Thanks to a partnership with MIT teachers supervised by the director of MIT Environmental solutions initiative, John Fernandez, the project is well positioned to meet growing demands for healthier indoor environments, flexibility, comfort and energy efficiency. Winthrop Center is also poised to leave a lasting legacy, not through its ornamentation or surface details, but through the air quality it improves, energy consumption it reduces, and social improvements. and environmental issues that it brings beyond its property line.

“We are proud to partner with Millennium Partners Boston to support the development of Winthrop Center,” said Cale Street’s Founder Ed Siskind. “For over 25 years, Millennium Partners has a proven track record of providing luxury mixed-use properties. We believe Winthrop Center will be a market leader in sustainability as the world’s largest passive house office building. in the world.”

Forward-thinking aspects of health and wellness were an integral part of the vision and design of the Winthrop Center before the onset of COVID-19, which heightened concerns about indoor air quality and ventilation. In addition to providing 30-50% more fresh air than comparable buildings, Winthrop Center was designed to offer better access to natural light, a columnless structural design with unobstructed sightlines and generous 12-inch ceilings. feet that help tenants achieve clarity of thinking and increased productivity. The Winthrop Center passive house building envelope with triple-glazed windows and a selection of healthy materials works behind the scenes to keep occupants healthy and healthy, and the design provides opportunities to connect, to collaborate and be inspired, with the connector, a public gathering space on the ground floor, serving as the living heart of the building.

In addition to offering a next-generation office space that reflects the highest standards in environmental stewardship, sustainability, technology and wellness standards, the vibrant mixed-use tower offers potential residents the possibility of living in an inherited building reflecting socially and environmentally responsible values. Winthrop Center residences are designed for Boston lifestyle, with next-generation smart home technology, access to building amenities including world-class mind, body and nutrition services a residential club including a full-service lounge and a reception room; an immersive social calendar to connect residents with Boston culinary, tourist, artistic and cultural experiences; and five-star service to all touchpoints, from valet, to doorman to concierge and beyond.

Winthrop Center marks another transformational project for Millennium Partners, which is renowned for its offerings which, in addition to providing world-class design, architecture, services and amenities, also positively impact communities and create a strong sense of belonging reflecting the destinations in which users work. , play and live, whether in new York, Washington DC, San Francisco, Los Angeles, or Boston. Millennium Partners’ deep ties with Boston are evidenced by the thousands of permanent and construction jobs it has created through developments in the region, where it has restored flagship hotels and properties, developed residential, office, retail and entertainment spaces , and contributed millions of dollars to affordable housing and skills training. In the wake of record breaking development of the Millennium Tower, Burnham Building and nearby Millennium Place, construction of the Winthrop Center is fueled by Millennium Partner Boston’s commitment to Boston and a vision to shape the future of healthy and eco-conscious design office spaces with development that will create far-reaching and very positive economic impacts for the Commonwealth of Massachusetts and the city of Boston.

Learn more about Winthrop Center at: winthropcenter.com

About Millennium Partners Boston

Founded over 20 years ago and firmly anchored in the heart of New England, Millennium Partners Boston is an internationally recognized residential developer of luxury mixed-use properties. The firm has spearheaded the transformation of Boston downtown with an impressive portfolio of projects to their credit. The works included 10 St. James, a 570,000 square foot office building developed in conjunction with the restoration of the 250,000 square foot Paine Furniture Building on Arlington Street, followed by the historic development of the Ritz Hotel -Carlton and residential towers. .

Then came to work on Charles, which offers 233 luxury residential condominiums, followed by the reconstruction of 179 Lincoln Street, originally built in 1899. The redevelopment of the building provided 250,000 square feet of prime, LEED-certified office space. This effort was followed by Millennium Place, a 15-story luxury residential building that introduced a new urban lifestyle to Boston.

The company also developed the Millennium Tower Boston and restored the adjacent Burnham Building, bringing new life to the neighborhood. Located on the site of the former Filene’s department store, the 60-story Millennium Tower Boston showcases a bold new lifestyle, fusing world-class contemporary design with unmatched amenities, the highest level of service and exclusive offerings from the Club.

Millennium Partners Boston is currently constructing Winthrop Center, a building that rethinks how cutting-edge urban research, architecture, design, technology, sustainability and engineering are integrated into key elements of the human experience: productivity, well-being and social engagement. Scheduled for completion in 2022, Winthrop Center will feature innovative office workspaces, residential units, retail spaces, restaurants and commercial spaces, as well as an organized public gathering space. the $ 1.30 billion development is the largest private investment for a single project in Boston and will create a compelling presence both on the skyline and at pedestrian level.

About Millennium Partners

Founded in 1991, Millennium Partners is an internationally recognized residential developer of mixed-use luxury properties, responsible for spectacular showcase properties in some of the country’s most dynamic urban locations. Millennium Partners has created an unrivaled portfolio of 28 properties that bring together luxury condominiums, state-of-the-art entertainment complexes, world-class spa and fitness facilities, A-class offices and luxury brands. five star hotels, including The Ritz. -Carlton Hotel Company LLC and Four Seasons Hotels and Resorts. For more information, please visit http://millenniumptrs.com/.

About Cale Street Partners

Cale Street is a real estate investment and finance company focused on UK, Western Europe and North America. Since its inception in 2014, Cale Street has provided innovative structured debt and / or equity solutions to investors, operators and developers in eight countries across most major real estate asset classes and in multiple currencies.

Cale Street created a unique model designed to ensure income security and capital preservation in partnership with the Kuwait Investment Office, the London office of the Kuwait Investment Authority and the world’s first sovereign wealth fund established in 1953. Cale Street’s the target transaction size for potential debt and / or equity opportunities is within a range $ 150 million and $ 850 million.

SOURCE Millennium Partners Boston

Related links

http://millenniumptrs.com/

About Paul Cox

Paul Cox

Check Also

RBI offers banking-type standards for large NBFCs

MUMBAI: Large non-bank financial corporations (NBFC) are likely to be more intensely regulated and their …

Leave a Reply

Your email address will not be published. Required fields are marked *