East Pier Development Coming To A Momentary Halt?

Last month, the newest $275 million residential and retail complex on East Boston's waterfront was surprisingly delayed. The project is said to be quite essential to the livelihood of East Boston and it's surrounding neighborhoods. With such impressive architectural structures approved for development, the surrounding property values, as well as overall livelihood of the areas residents, are set to greatly improve. Due to recent increases in development costs, construction on pier one has been recently postponed. Construction of the project is to continue in a series of phases. Construction companies were granted an extension of 60 days before they had to begin the next phase of construction. Construction on the 368 condos and 177 apartments is scheduled to continue in late summer or early fall.

While some argue the real reason for the delays is because of the poor market, others are quick to deny such theories, stating that the recent delays have been due to the switch in subcontractors. This project has been “years in the making” and is one of the most ambitious projects to hit East Boston. While some residents have been skeptical, many residents of East Boston have been looking forward to this development for it will feature housing, shops and even marina facilities along the waterfront for condo owners. Not only will the project feature these amnesties, but parks and other public spaces as well, along the pier. Some residents of East Boston were disappointed by the delays in this massive project. Government officials involved with the project released a statement saying that the project had hit unexpected costs and even switched from the Skanska USA Building Inc. to Suffolk Construction Co. It is no surprise that a project of this magnitude would go over budget, but many residents of East Boston hope this project will continue to push on and add even more value to the once historic site rich with culture.