Hostelling International chose 25 Stuart Street as the home of their new Boston Hostel. An historic landmark, the site required a firm familiar with Federal and State Historic and New Market Tax Credits to manage the acquisition and redevelopment.
We provided complete development management services to Hostelling International for the redevelopment of 25 Stuart Street. This 70,000 SF building includes more than 450 year-round hostel beds and seasonal dormitory beds for nearby colleges. One of our successes on this project involved the identification and securing of this unique property in an “off market” transaction. In addition to obtaining the site, we oversaw all aspects of the project, including team assembly, due diligence and acquisition, permitting, design and pre-construction planning; financing; and design and construction. We also managed the closing, provided ongoing financial management of the monthly requisition process, and worked with the client through the occupancy and completion of all documentation to secure the historic tax credit investments.