Boston developer Synergy filed plans last Wednesday to convert an 11-story office building in Downtown Crossing into over 250 apartments, marking the city’s largest office-to-housing conversion to date. The building, located at 294 Washington Street and constructed between 1902 and 1904, is currently mostly vacant.
A Response to Changing Needs
The proposed project aims to address the high downtown Boston office vacancy rate, which currently stands around 20%. Synergy CEO Dave Greaney stated that “Office to Residential conversions — putting homes close to jobs — is just good policy,” adding that increased residential density could stabilize the office market and support local businesses.
The conversion will maintain retail space on the ground level and notably includes no parking. This aligns with a broader city initiative to encourage transit-oriented development.
City Support and Program Details
The project benefits from the city’s Office-to-Residential Conversion Program, extended in mid-December by Mayor Michelle Wu. Launched in October 2023, the program has already seen 22 applications to convert 1.2 million square feet of office space into 1,517 new apartments, including 284 income-restricted units. Developers participating in the program can receive a 29-year, 75% residential abatement, as well as streamlined zoning and permitting processes.
With plans for 202,000 square feet of residential space, the 294 Washington Street project will surpass other conversions, including a 193,000 square foot project at 50 Congress Street and a 95,000 square foot project at 31 Milk Street, which is currently under construction.
What’s Next?
Developers must secure a building permit and begin construction by the end of 2027 to take advantage of the city’s conversion program. If approved and completed, the project could add a significant number of housing units to the Downtown Crossing area. It is possible that the success of this project will encourage further office-to-residential conversions in Boston, potentially reshaping the city’s core. However, the timeline for completion and the ultimate impact on the downtown office market remain to be seen.
Frequently Asked Questions
What is the status of the Office-to-Residential Conversion Program?
The program, launched in October 2023, received 22 applications to convert 1.2 million square feet of office space into 1,517 new apartments and was extended in mid-December after proving successful.
How many apartments are planned for the 294 Washington Street building?
The project plans to include over 250 apartments, making it the largest office-to-housing conversion in Boston to date.
Does the building have parking?
No, the building at 294 Washington Street does not have parking.
How might a large-scale conversion like this impact the availability of office space in downtown Boston?
