Downtown Crossing has been rising in its fame in Boston housing with the addition of one of the tallest and most substantial additions to the skyline, Millennium Tower. Now, things may get even more interesting with the recent news of a project on the horizon called, “Canvas.” Rafi Properties, LLC., a Boston based development company, has proposed a 30-story tower with mixed use space just a few blocks down from Millennium Tower. The building would include 94 units, a restaurant, and 4 floors of collaborative work space.
The site is the location of the former Felt nightclub, now closed, at 533 Washington Street – Dairy Farm Residences UED Residential. The new tower would be constructed of glass and zinc and offer a modern addition to the current historic building. Views from the slender building should be exceptional, as is a selling point of many of the luxury residential towers in the area.
Downtown Crossing has seen substantial building and growth over the past few years with a variety of projects in the area. (Take a look at the current neighborhood listings.) According to the most recent market stats, just released last week, the median sales price is up almost 50% from last year to $1,750,000!
Canvas, as the project has been named, is currently in the “Letter of Intent” phase and there is speculation if this tower will or will not be built. We will be keeping you informed as we learn more information on if this project is moving forward, pricing, expected completion date, etc.