Skanska is investing USD 26 million in a new multi-family development in Boston, USA. A joint venture between Skanska USA Commercial Development and Prudential Real Estate Investors has awarded a contract to Skanska USA Building, the construction manager, for USD 88 million which will be included in the order bookings for Skanska USA Building for the fourth quarter 2015.
Skanska will develop and build the new 17-story, 17,000 square metre residential building, which will feature 212 units, 650 square meter of retail space and two parking levels. The building is targeting LEED Gold certification.
Construction will begin in October 2015 and substantial completion is expected in the fourth quarter 2017.