No Love Loss at Lovejoy...

Lovejoy lawsuit settled

Boston Business Journal by Thomas Grillo, Real Estate Editor

Business Journal file photo

 

 

Lovejoy Wharf, a luxury condominium project on the waterfront near Boston's North End, is cleared to proceed after a legal settlement with neighbors. The project would add five stories in a massive renovation to the existing Hoffman Building, pictured here.

Three years after a lawsuit by abutters halted construction of a $200 million luxury condominium project on Boston Harbor, the suit has been settled, allowing the development to proceed.

Twenty-one residents of Strada234, an upscale development near the TD Garden   filed suit to overturn an amendment to the Municipal Harbor Plan that allowed Lovejoy Wharf to be built by Lexington-based Ajax Management Partners at 155 feet, up from 55 feet. A second lawsuit sought to overturn a Zoning Board of Appeal decision to allow construction of an eight-story automated garage.

The Boston attorney representing the Strada residents, said terms of the agreement prohibited him from disclosing details. Previously, a proposed settlement with Ajax provided residents with $2.3 million and, in exchange, the plaintiffs would drop litigation, but that deal fell through.

At issue was the mixed-use development at the water’s edge that includes the rehabilitation of 160 North Washington St. and a new 14-story tower to be built on nearby Beverly St. The project received approval from the . But the proposal has been stalled due to legal challenges. In all, the project would add 250 units along a revitalized waterfront.

The development team has said Lovejoy Wharf presents an opportunity to revitalize a significant waterfront parcel near Boston’s North Station. The project would serve as a contemporary gateway to the area near the Rose Fitzgerald Kennedy Greenway. The historic structure at 160 North Washington Street would be renovated following the demolition of the top two floors that would be replaced with four new floors. The ground level would feature 39,000 square feet of retail space including a 300-seat restaurant and a 7,600-square-foot fitness center.

Given the challenging times for condominiums, it’s unclear whether Ajax will proceed with construction of condos, seek to change them to apartments or sell the project.