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Kendall Capital plans 155-unit residential conversion in Boston

The 155,000-square-foot project at 133 Federal St. would use historic tax credits and follow a 16 to 24 month redevelopment timeline.

Reported · Written up by our desk · Commercial

ConnectCRE reports that Kendall Capital is planning to convert a landmark office building in Boston’s Financial District into a 155-unit residential property.

The planned redevelopment would cover about 155,000 square feet at 133 Federal St., using historic tax credits as part of the financing, according to a report cited by ConnectCRE from Banker & Tradesman.

ConnectCRE adds that Kendall Capital manager Mai Luo acquired the property from B.E. Realist LP for $15.75 million in December, and that the 12-story Brutalist building, formerly known as the Blue Cross-Blue Shield Building, was built in 1960 and certified as a city landmark in 2024.

The article also says the project is anticipated to take 16 to 24 months and would create a mix of apartments.

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