Representing Joint Venture in Development of 1,000+ Room Boston Hotel
Key Facts
- The Davis Companies was awarded development rights to a vacant parcel across from Boston Convention and Exhibition Center
- The land will be used to construct an approximately 1,054-key hotel
- We represented the joint venture of affiliates of The Davis Companies and Omni Hotel Corporation in negotiation of the development agreement
The Situation
Mintz represented the joint venture of affiliates of The Davis Companies and the Omni Hotel Corporation in the negotiation of a development agreement for the project, as well as the long-term ground lease for Parcel D-2, pursuant to which the hotel will be constructed. Mintz is providing all real estate, environmental, and permitting legal services needed, and is coordinating that work with federal, state, and local government agencies, as well as Massport. The firm’s work is being undertaken in concert with ML Strategies, which has been providing strategic advice to the joint venture starting from its crafting of a response to Massport’s Request for Proposals for Parcel D-2. The hotel is scheduled to go into construction in the second quarter of 2018, after the completion of initial permitting efforts and the closing of the construction financing.
The Approach
Mintz represented the joint venture of affiliates of The Davis Companies and the Omni Hotel Corporation in the negotiation of a development agreement for the project, as well as the long-term ground lease for Parcel D-2, pursuant to which the hotel will be constructed. Mintz is providing all real estate, environmental, and permitting legal services needed, and is coordinating that work with federal, state, and local government agencies, as well as Massport. The firm’s work is being undertaken in concert with ML Strategies, which has been providing strategic advice to the joint venture starting from its crafting of a response to Massport’s Request for Proposals for Parcel D-2. The hotel is scheduled to go into construction in the second quarter of 2018, after the completion of initial permitting efforts and the closing of the construction financing.
The Outcome
The construction of the project will create 24 / 7 activity at a transit-rich location and also provide much-needed hotel rooms to support the vitality and growth of the BCEC. The project will also generate substantial property tax, hotel tax, and restaurant tax revenue to the City of Boston and the Commonwealth of Massachusetts.
Supporting Professionals
Member / Chair, Real Estate Development Practice
