Dinosaur Capital Partners LLC plans to transform 31 Milk Street into 110 residential units, investing $52.5 million amidst a broader trend of office-to-residential conversions in Boston.
The proposed residential configuration will consist of 40 studios, 50 one-bedrooms, and 20 two-bedrooms, with expected rent prices ranging from $2,500 to $4,500 per month.
About one-third of the existing office space is occupied, with plans to assist tenants with leases expiring soon in finding cost-effective space in the Financial District.
In total, Boston has requests to change 18 office buildings, totaling 611,000 square feet, into 690 apartments, indicating a significant shift in real estate usage.
#real-estate-development #residential-conversion #downtown-boston #affordable-housing #commercial-real-estate
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