Developer Plans Remake of Area Near Faneuil Hall in Boston

Related bought 343,000-square-feet of primarily office space from Fidelity Investments in December for $87.25 million

A Boston real estate developer is proposing to transform a cluster of office buildings near Faneuil Hall into a vibrant commercial complex featuring restaurants, retail and hotel space.

Related Beal's proposal for Congress Square calls for adding 50,000-plus square feet of restaurant and retail space to the ground floors of five buildings. The plan calls for turning a little-used alley into a pedestrian zone connecting with Faneuil Hall.

Related bought 343,000-square-feet of primarily office space from Fidelity Investments in December for $87.25 million. Fidelity will move out of three of the buildings by year's end and the others by the end of October 2015.

Related's executive vice president says the plan is to "rejuvenate the entire block."

The plan unveiled Monday needs the approval of the Boston Redevelopment Authority.

Copyright AP - Associated Press
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