Millennium Partners, City Reach Deal to Build Winthrop Square Tower
Millenium Partners, the New York-based developer whose 60-story Millennium Tower is poised to transform Downtown Crossing, will soon make another addition to Boston’s fast-expanding skyline.
City officials reached a deal with Millennium to build at Winthrop Square and demolish the long-defunct, city-owned parking garage on Devonshire Street. Under the terms of their agreement, Millennium will reportedly pay roughly $153 million across three installments: $10 million for the site, $92 million once it receives a building permit, and about $50.8 million when it closes on the condos comprising the tower.
The Boston Planning and Development Agency, née BRA, tapped Millennium Partners to begin negotiations over the redevelopment of the Winthrop Garage site in August.
At 750 feet, the Winthrop Square tower would dwarf the Millennium Tower by 65 feet, good for Boston’s third-tallest skyscraper behind the Prudential Tower and 200 Clarendon, formerly known as the Hancock Tower. As part of the deal disclosed this week, city officials will lobby for a change to a state law that regulates how much shadow can be cast on the Common, Globe reports, as the tower will likely throw its fair share of shade.