Archstone-Smith Breaks Ground on 420-Unit Apartment
By Naomi Grossman
Last updated: Oct 31, 2003 11:20AM
BOSTON-Archstone-Smith began construction on Park Essex, its new Charles E. Smith-branded development in the city's downtown district near Chinatown. The project--the largest rental residential property to be developed in Boston in more than 20 years--was formerly known as Liberty Place. The 28-story building at 600 Washington St. will offer 420 apartments for lease. The developer anticipates that the studios, one-, two-, and three-bedroom residences will be available for lease by spring of 2006. The project will feature a sports club facility, a café, an indoor swimming pool and garage parking.
"This is a great location, adjacent to the ladder district, and within walking distance of prime shopping and restaurants as well as the financial district," says Stephanie Wasser, regional vice president for Archstone-Smith. She adds that Boston represents a long-term market for the company.
Archstone-Smith currently owns and operates 11 apartment communities in the Greater Boston area including 2000 Commonwealth Ave. in Boston, Cronin's Landing in Waltham and Montclair Place in Quincy.
