Real estate news: Exchange South End gets approval

A 1.6 million square-foot project in the South End wins key approval

The $1 billion development known as the “Exchange South End” received approval from the Boston Planning & Development Agency last week to build on the former site of the Boston Flower Exchange in the South End.

The development, which sits on more than 5 acres of land, will eventually be home to four new buildings that will sit between I-93 and Albany Street. When finished the new development is expected to have an estimated 7.000 technology and life science jobs.

According to this Curbed Boston article The Exchange will include:

• Buildings will total 1.4+ million square feet of commercial, technology, and life science research space.
• 42,500 square feet of ground-floor retail.
• 30,000 square feet of civic and business-incubator space.
• 30,000-square-foot, publicly accessible park.
• With an additional 14 surface spaces, the Exchange South End would contain a total of 1,159 parking spaces.