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Kendall Capital proposes 155-unit conversion at 133 Federal St.
The 155,000-square-foot plan would be funded with historic tax credits, and Kendall Capital acquired the property for almost $16M in December.
Kendall Capital has proposed converting a Brutalist office building at 133 Federal St. in Boston's Financial District into a 155-unit residential project, according to the Boston Planning Department, as reported by Bisnow.
The 12-story, 155K SF conversion would be financed through historic tax credits, Banker & Tradesman reported. Kendall Capital Manager Mai Luo acquired the property for almost $16M in December, after B.E. Realist LP purchased it in 1994 for $6M, according to public records cited in the proposal coverage.
Luo estimates construction could take 16 to 24 months. The plan would be largely studios with rents ranging from $2,500 to $4,500, Bisnow reported, and the building was certified as a landmark by the Boston Landmarks Commission in 2024.
The property, built in 1960 and designed by Paul Rudolph, was formerly known as the Blue Cross-Blue Shield Building, with Rudolph also credited with designing the Hurley and Lindemann buildings, according to the proposal coverage.