KS Partners Leading $36M Office to Residential Conversion in Downtown Boston

The transformation of a downtown Boston office building into residential space has initiated the city’s permitting review process. The project envisions the conversion of an 11-story building spanning Devonshire and Washington streets at Water Street into 95 apartments, strategically positioned just south of the Old State House. The estimated cost to convert these small office buildings into residential units amounts to $36 million.

Reviving Urban Spaces

Introducing an innovative initiative, city officials launched a forward-thinking incentive program last year targeting the revitalization of vacant office spaces amidst soaring vacancy rates. The program serves as a beacon of hope for downtown areas grappling with the dislocation in work dynamics triggered by the pandemic. Proposing forward-thinking solutions to repurpose underutilized office spaces, the incentive program spearheaded by city leaders aims to breathe new life into urban landscapes, fostering a resurgence in commercial activities and injecting vitality into once-desolate areas.

Revitalizing Space at 85 Devonshire St.

The ambitious plan includes the conversion of the area into 29 modern studios, 54 inviting one-bedroom apartments, and 12 spacious two-bedroom units. Additionally, a substantial portion of the ground floor, comprising almost 16,000 square feet, is designated for retail space, ensuring a dynamic and diverse environment for residents and visitors alike.

A Shift in Urban Landscape

The BPDA disclosed that, towards the end of last year, it had seen an influx of proposals under its initiative encouraging the conversion of office spaces into residential units. Notably, the applications pertained to four distinct projects, with a notable split between two located in the bustling downtown area and the remaining two situated in the vibrant West End neighborhood.