January 26, 2021 -- Boston, MA – WS Development, in partnership with the Public Sector Pension Investment Board (PSP Investments), today joined Amazon, Boston Mayor Martin J. Walsh, and Massachusetts Governor Charlie Baker in announcing that a lease for 630,000 square feet of office space at the company’s 33-acre Boston Seaport development has been signed with Amazon.
“We are proud to continue our partnership with Amazon in Boston’s Seaport, a neighborhood that has grown to serve forward-thinking employers, residents, and retailers and that is now a global hub of innovation and talent,” said Jeremy Sclar, Chairman and CEO of WS Development.
“PSP Investments is pleased to join our partner WS Development in expanding Amazon’s presence in Boston’s Seaport,” said Kristopher Wojtecki, Managing Director, Real Estate, PSP Investments. “Amazon’s expansion will further enhance the innovation ecosystem and creative economy in this powerful technology and life sciences cluster.”
With this expansion, Amazon will be able to continue growing its job creation efforts in Boston and create 3,000 tech and corporate jobs over the next several years. The development, to be constructed at One Boston Wharf Road, Block L5 of the Boston Seaport development, is a 17-story, 707,000 square foot, mixed-use building designed by world-renowned Henning Larsen architects of Copenhagen, Denmark.
This is Amazon’s second full-building lease in the Seaport, the first being at 111 Harbor Way, a 525,000-square foot building now under construction by WS Development, which will be completed later this year and will bring 2,000 new technology jobs to Boston.
One Boston Wharf Road will also contain ground floor retail space and new performing arts center, comprising two live performance venues consisting of a 500-seat theater and a 100-seat black box theater, which together will add significant state-of-the-art capacity for the performing arts in Boston. The building will front on Harbor Square park, a 1.5-acre signature green space that will open later this year, designed by James Corner Field Operations, the landscape architect behind New York’s High Line.
The project will also fund approximately $5.5 million dedicated to the creation of affordable housing in Boston, as well as nearly $1.1 million of funding for job training in the City of Boston, providing opportunities for Amazon to work with the city’s Workforce Development team to prepare local residents for jobs in the technology industry.
Construction is scheduled to commence later this year with completion in 2024.
About Boston Seaport
Culture, industry, and community converge in Boston’s Seaport district, a dynamic and vibrant neighborhood that has become synonymous with innovation and is redefining the City of Boston. Unlocked after a decade of development and $22 billion of public investment, Seaport is now home to an ecosystem of more than 350 companies, from global leaders in technology and biotech, to groundbreaking startups. In the heart of the neighborhood, WS development is transforming 33 acres of land, composed of 7.6 million square feet of residential, hotel, office, retail, entertainment, civic and cultural uses, as well as signature public open spaces. Currently, the project represents Boston’s single largest development under construction.
Combining the best of historic and modern-day Boston, Seaport has become a national destination for technology and life sciences employers, fashion, culture, dining and entertainment, and the arts, enhancing Boston’s position as one of the top cities in the world. For more information visit www.bostonseaport.xyz, follow Boston Seaport on Facebook, and @SeaportBos on Instagram and Twitter.
About WS Development
WS Development is a Massachusetts-based property developer and owner dedicated to the creation of places where people want to be. With more than 20 million square feet of existing space and an additional five million square feet under development, it is one of the largest privately-owned development firms in the country. In business since 1990, WS is a vertically-integrated company that develops, owns, operates, and leases over 90 properties, including urban buildings, lifestyle centers, community centers, and mixed-use developments. Its goal is to be a contributing member of each community it serves. For more information, visit www.wsdevelopment.com or follow WS Development on LinkedIn.
About PSP Investments
PSP Investments is one of Canada’s largest pension investment managers with approximately $169.8 billion of net assets as of March 31, 2020. It manages a diversified global portfolio of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. Established in 1999, PSP Investments manages net contributions to the pension funds of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montreal and offices in New York, London and Hong Kong. For more information, visit investpsp.com or follow PSP Investments on Twitter and LinkedIn.
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