BOSTON — Developers intend to preserve the historic downtown building here that housed the Filene’s flagship and build a 38-story glass tower behind it.
In a draft proposal to the Boston Redevelopment Authority, Manhattan-based Vornado Realty Trust and its Boston partner, The Gale Co., said they would spend $620 million renovating two historic buildings on the site and construct a tower with residences and retail space that the developers hope will help gentrify the area. Two Seventies-era buildings would be demolished to make room for the tower.
Vornado purchased the four-building complex for about $100 million in July, shortly after Mayor Thomas M. Menino designated the 1912 Daniel Burnham-designed flagship and an adjacent 1905 building as city landmarks. The mayor has pushed for a rejuvenation of Downtown Crossing, the city’s busiest pedestrian district, which is home to New England’s largest Macy’s as well as discount chains. The city hired Urban Marketing Collective, a branding firm that’s worked with Los Angeles, Miami and other U.S. major metropolitan areas, to create an identity for the district.
The former Filene’s flagship is expected to have retail on its first three floors, while the 1905 building is slated for a boutique hotel and spa, said Lucy Warsh, a spokeswoman for the redevelopment authority. There has been speculation that Target might be a tenant in the old Filene’s. Menino, a Democrat, has publicly embraced the Minneapolis-based retailer, while warning competitor Wal-Mart to stay away. Filene’s Basement, which occupies two below-ground floors and is a major draw for the district, will remain under its long-term lease.
The developers have not given a start date, said Warsh, who noted the site is the city’s largest historic preservation project.