Troy Boston may still be getting its finishing touches, but the apartments in this mixed-use residential/retail development in South End are already half occupied by eager residents. And though things have moved quickly since spring when leasing began, the project has been a long time coming.
“It takes a long time for a huge development like this to come together,” says Kelly Saito of real estate investor and developer Gerding Edlen.
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“We started talking with the property owners, the BRA, and all the other bodies four or five years ago.We were interested in this property a long time before Ink Block was known,” he adds, referring to the trendy nearby complex where a Whole Foods just moved in.
Location, location, location
Portland, Oregon-based Gerding Edlen knew it had a great location. After all, the South End is brimming with cultural and dining activity, including multiple theaters and some of Boston’s best boutique shopping, restaurants, cafes and galleries.
But this particular part of the brownstone-lined neighborhood has added appeal, says Saito: “We liked the South End address, but also this particular location has easy access to other neighborhoods. The Expressway and the Pike are a hop away; MBTA’s Red Line subway and Silver Line bus serve the area. Chinatown, the Theater District and Southie are easily accessible. It’s really a central city location.”
Just in time for summer
Troy is a unique property for the city. The interior is unlike typical residential buildings, with an aesthetic that is much more like a hotel. Located at 55 Traveler St., Troy Boston has 378 apartments, 38 of which are designated affordable. The market-rate units range from studios ($2,825-$3,023) to two-bedroom, two-bathrooms ($3,880-$4,666).
The building will have a pool,with cabanas and fire pits.Other amenities include a fitness center and yoga room, lounges, a chef’s kitchen, an outdoor dog run and a dog-washing facility.
“The other thing we did, strategically, was instead of having a central amenity area, we spread them throughout the building, creating mini neighborhoods. It gives people a reason to go to other parts of the building,” explains Saito.
Troy Boston is Gerding Edlen’s third development in the city and follows Factory 63 and 315 on A, both located in Fort Point. Like those, the new development incorporated sustainable elements, and Troy Boston is expecting certification as a LEED Gold property. Next up: a development in East Boston. But “that’s years away,” say Saito. “We’re only just starting with that one.”