BOSTON , Nov. 13, 2014 /PRNewswire/ -- Roseland, a subsidiary of Mack-Cali Realty Corporation (NYSE: CLI), in partnership with the Massachusetts Port Authority (Massport), yesterday hosted a ribbon-cutting event for the opening of Portside at East Pier Building 7, its flagship luxury residential and retail complex located at 50 Lewis Street in East Boston.
Joined by city and state officials including State Senator Anthony Petruccelli and State Representative Carlo Basile, Roseland and Massport celebrated the completion of the initial building in East Boston's first residential waterfront development project in decades.
Portside at East Pier Building 7 features five stories comprised of 176 apartments – including six extended-stay units – in addition to 3,600 square feet of ground floor retail space and 192 parking spaces.
"The opening of Portside at East Pier Building 7 marks a major step in creating a dynamic, thriving waterfront neighborhood that truly represents the character of East Boston," said Marshall Tycher, President of Roseland. "Roseland is proud to play an integral role in the transformation of this previously underutilized shoreline, and we look forward to continuing to build our relationship with the East Boston community."
The property is the first to open as part of Roseland's larger, master-planned, mixed-use waterfront development, which will contain three buildings and a total of 550 luxury apartments in East Boston's Jeffries Point. Once completed, the development will feature over 70,000 square feet of ground floor retail space, which is planned to include a theater, fitness club, business center, parking facilities, and more.
In line with Roseland's vision to create a cohesive neighborhood experience on the East Boston Waterfront, Roseland and Massport are also repurposing the outdoor space on the 26-acre lot to create a public park and recreational marina.
Massport CEO Thomas P. Glynn honored the vision of three individuals who could not attend the event: Massport's Tom Butler and Lowell Richards and the late Boston Mayor Tom Menino.
"Just as they envisioned, we hope that the success of Portside at East Pier will spark a revitalization of one of this city's real gems – the East Boston Waterfront," Glynn said.
Portside at East Pier's East Boston neighborhood offers residents convenient access to various retail and dining destinations, with a multitude of local shops and restaurants in the immediate vicinity, along with access to several public transportation options. The property is just steps away from the T at Maverick Station, which provides easy transport to the center of Boston and to Logan International Airport. Residents and visitors will also have access to a water taxi to Lewis Street in Boston's North End.
"As the State Rep from this area, I am constantly selling East Boston as a hidden gem of the city, and one that is constantly evolving before our eyes," said State Representative Carlo Basile. "I want to thank the many organizations, agencies, and residents that came together to make this project happen."
Added City Councilor Sal LaMattina: "Portside at East Pier Building 7 has been an achievement in the making for many years. As a WDAC member I'd like to thank Roseland, Massport, the City of Boston, and East Boston residents for their partnership and teamwork. These beautiful apartments overlooking the Boston skyline will be the catalyst for other developments along our waterfront."
As of Oct. 15, Roseland has opened leasing at Portside at East Pier Building 7 to both residents and retail tenants. Key amenities of the complex's residential units include oversized windows, ceramic tiles, stone countertops, kitchen islands, stainless steel appliances, washer and dryer, hardwood-style flooring, 10-foot ceilings and, in many homes, balconies with stunning views of the Boston Harbor. Additionally, the pet-friendly community offers tenants a 24/7 concierge, fully equipped fitness center, clubroom with gaming and lounge areas, a conference room with Mac® stations, and Wi-Fi throughout all common areas.
Roseland is a premier, full-service real estate development and management company that creates locally inspired, lifestyle-oriented residential communities and destination neighborhoods in the most desirable settings throughout the Northeast. The Company is a recognized leader in multi-family innovation, carefully integrating each development with its surrounding cultural context to enhance the beauty, economic vitality, and energy of its environment. From thoughtfully designed residences to distinctive amenity offerings, Roseland has earned a reputation for providing residents with the most visionary communities that empower them to re-imagine the way they live.
The Company is the master developer for several nationally recognized mixed-use destinations, including Port Imperial, a $3 billion, 200-acre, mixed-use community on the Hudson River Waterfront facing Midtown Manhattan; The Highlands at Morristown Station, NJ TRANSIT's first Transit Village project which, along with Roseland's 40 Park/Epstein's redevelopment, have spearheaded the revitalization of downtown Morristown; and Portside at East Pier in East Boston, where Roseland is redeveloping one-half mile of Boston Harbor into a premier luxury mixed-use community.
A subsidiary of Mack-Cali Realty Corporation (NYSE: CLI), Roseland benefits from Mack-Cali's financial strength and stability, along with its unsurpassed expertise in the commercial office sector. Additional information on Roseland is available on the Company's website at www.roselandproperty.com.
The Massachusetts Port Authority (Massport) owns and operates Boston Logan International Airport, public terminals in the Port of Boston, Hanscom Field and Worcester Regional Airport. Massport is a financially self-sustaining public authority whose premier transportation facilities generate more than $8 billion annually, and enhance and enable economic growth and vitality in New England. No state tax dollars are used to fund operations or capital improvements at Massport facilities.
More information can be found at www.massport.com.
SOURCE Mack-Cali Realty Corporation