A shift in the market has once again transformed the vision for developing Boston's One Kenmore, a Massachussetts Turnpike air rights development project in the heart of the city's Kenmore Square/Fenway Park neighborhood.
"After more than a decade of planning and major changes in size, use, and even location, the developer of the One Kenmore project near Fenway Park yesterday again filed plans with the city - this time reducing the number of residential units and adding a substantial amount of office space.
John Rosenthal, whose previous plans for a mixed-use development over the Turnpike between Kenmore Square and the ballpark emphasized residential use, with more than 600 condos or apartments, is bowing to the current market winds that are strong for commercial development but weak for housing.
He told the city he now wants to build almost 340,000 square feet of office space plus 100,000 square feet of retail shops and restaurants - and only 282 residences. The housing is currently designed as rental apartments, but some of that could be converted to condominiums if the market rebounds, Rosenthal said.
The expected project cost is about $450 million."