Boston Bank Transforming to Apartments
Boston's former Penny Savings Bank building, first constructed between 1911 and 1917, recently began its transformation into 23 luxury residences and 9,000 sf of retail space. The building, located on the corner of Union Park and Washington streets, is a marble and granite building designed in the Renaissance Revival style. Its original style will be preserved; vital components such as entrance canopies will be re-created and blended with three new glass floors set back from the façade and marquis of the existing building.
Stonegate Group LLC, the Natick, Mass.-based developer, is working with general contractor Suffolk Construction and architect Finegold Alexander + Associates, both based in Boston, on the redevelopment, which is expected to be completed in spring 2007.