AMERICAS - The Massachusetts Convention Center Authority (MCCA) has completed the purchase of 5.6 acres of land near the Boston Convention and Exhibition Center (BCEC) to develop two hotels and parking.
MCCA executive director James Rooney said construction of the two hotels containing up to 500 rooms could start at the end of 2013, with both facilities set to open in 2015.
“This is a huge and real step in our expansion plans, and one that sets the ball rolling,” said Rooney.
“This is allowing the MCCA to plan for its future, selectively acquiring available land near the BCEC, saving money in the long term, and allowing for better long-term strategic planning.”
The BCEC has only 1,700 hotel rooms within walking distance, when compared to competing cities for events like Orlando (10,709 rooms), San Diego (8,056) and Philadelphia (8,012).
The parcel purchased by the MCCA is located directly across the street from the BCEC on D Street in South Boston and was formerly owned by an affiliate of Intercontinental Real Estate.
The level of private investment to design and build the hotels is expected to be about $140m.
Any news? Contact exhibitionworld@mashmedia.net
