The migration of commercial buildings to residential homes in Boston’s Financial District continues. Within a few years, the area once devoted to money could well combine businesses and homes, revitalizing a part of the city that Covid 19 turned into a virtual ghost town.
Commercial to Residential in the Financial District
The latest news is that three interconnected buildings will combine into one structure, providing 95 residential apartments.
The three contiguous buildings will include 85 Devonshire Street, 258 Washington Street, and 262 Washington Street. The unified property fronts on all three streets but is best seen from Washington Street. If you turn down Water Street from Washington Street, they will be the first buildings on the left.
This renovation and conversion to residential space marks another positive step in Mayor Wu’s Downtown Residential Conversion Incentive Pilot Program. This unified building stands as short block away from the conversion, currently underway, of the Old South Building to homes. Only the Winthrop Building and Spring Lane separate them.
262 Washington Street
The filing states that 17 percent of the units — or approximately 16 apartments — will be deed restricted for households making up to 60% of the area median income or AMI, as set under the city’s Inclusionary Development Policy. Approximately 15,798 square feet of retail will remain on the first floor and mezzanine levels.
85 Devonshire Street
85 Devonshire Street
85 Devonshire was constructed in 1908 and, as appropriate for its location, has historically housed financial institutions and professional businesses. It was considered one of the finer examples of Beaux Arts style buildings in the Financial District when it was built.
The property was renovated in 1988, including refurbishment of the lobby areas, elevators, heating system, common areas and many tenant spaces. Retail establishments now take up the first and part of the second floor of 258-262 Washington, and small businesses fill up the remaining space
The Financial District and Commonplace Beauty
Like many buildings in the Financial District 85 Devonshire is beautifully designed but not significant enough to be included in books of historical or architectural distinction. It was just one of many such structures of the period to be well designed but not outstanding in any way. They form the largely granite backbone of the Financial District, projecting solidity and reliability. They are graceful and pleasing without calling attention to themselves.
Built as it was on the warm ashes of the Great Fire of 1872, Boston’s Financial District replaced over 776 buildings on more than 60 burned-over acres of the city. The trauma of that tragedy called more for reassurance and security than the creative imaginings of a nineteenth-century “starchitect.’ Still sturdy, they stand ready today for the new challenge of housing human beings instead of money.
