Fidelity plans Seaport WTC redevelopment
Fidelity Investments said it has filed detailed plans with the city for a “transformative project” to redevelop the Seaport World Trade Center on the Commonwealth Pier.
Real estate developer Pembroke, the real estate and development arm of Fidelity, said Wednesday it has filed with the Boston Planning & Development Agency to modernize the existing building. The firm said Fidelity employees will “occupy 100 percent of the revitalized office space.”
“We’re excited for the opportunity to reintroduce Commonwealth Pier as a unique new waterfront experience offering relevant and diverse public amenities, improved accessibility to the harbor and along Seaport Boulevard,” Edward Johnson IV, president of Pembroke, said in a statement.
Developers say they will transform the 705,000square-foot building and Commonwealth Pier with new amenities to the waterfront, new shops and restaurants, and event space.
The site will also be built to handle rising tides and “storm intensity” expected to hit the Seaport area in the decades ahead.
Pembroke said Commonwealth Hall, an exhibition space in the World Trade Center’s lower levels, will be permanently closed to make way for a 25,000-square-foot waterfront courtyard for small outdoor events yearround. Much of the space is currently used for exhibits, trade shows or conventions.
Pembroke said construction is slated to begin early next year and be completed by 2024.