Developers Steve Samuels and Weiner Ventures have won the right to build a towering $360 million hotel, residential and retail complex on state-owned property in Boston’s Back Bay, adding to a surge of redevelopment activity in the area, officials said Monday.
The Massachusetts Department of Transportation formally selected Samuels and Weiner to build a 400-foot-high complex —about 32 stories—near the intersection of Massachusetts Avenue and Boylston Street. The project will include multiple buildings with a hotel, residences and stores.
The buildings will occupy two air rights parcels over and along the Massachusetts Turnpike in the Back Bay. On property next to the Hynes convention center, Samuels and Weiner will develop a high-rise hotel and residences, with a separate building to contain stores along Boylston Street
The developers will also build a mid-rise residential building across the street, as well as another retail complex that will cover the turnpike along Massachusetts Avenue. Overall, the development will include 230 residences, 270 hotel rooms and 50,000 square feet of retail space.
Samuels, who in recent years has developed much of Boylston Street in the adjacent Fenway neighborhood, could not be immediately reached for comment. Weiner also could not be reached.
Massachusetts transportation officials have negotiated a tentative lease with Samuels and Weiner that will give the state more than $18 million in rent and other payments over 99 years.
In a statement Monday, transportation secretary Richard Davey said. “We believe the [Samuels/Weiner] proposal provides the best overall value and long-term benefit to the City of Boston by transforming this critical Back Bay intersection along the turnpike. The proposal’s rent offer also provides the best financial benefits to the citizens of the commonwealth.”
Samuels and Weiner were selected over several other developers who also bid for the right to to redevelop the property. They included the Chiofaro Co., Trinity Financial and Carpenter & Co., which was recently designated to build a hotel and residential complex on the nearby Christian Science property.
State and city officials have been weighing competing proposals for the property for several years. The review process started in 2008, but was put on hold during the economic downturn. It resumed in 2011, ending in Monday’s decision to select the Samuels team.
The parties still must finalize the lease deal with the state, and obtain multiple design and permitting approvals. No start date for construction has been announced.