Location: Boston, MA
At 699 feet tall, One Dalton Street will become Boston’s tallest residential building upon completion in 2017. The tower, which was developed by Carpenter & Company, will include 211 luxury hotel rooms on the lower 23 floors, and 180 luxury condos on floors 24 through 61. The entire building will be serviced through the Four Seasons brand.
Our first task was to complete a full due diligence review on behalf of Children’s Investment Fund, who is the lender for this project as well as our client. Our review enabled Children’s Investment Fund to identify potential risks and compose the loan agreement. Cumming will continue to provide enhanced project monitoring services until substantial completion, including site visits, payment requisition reviews, project meetings, permit updates, schedule reviews, and overall project controls. We are also responsible for developing a monthly report that provides the client with concise reports, and ensures that all risks are being identified and controlled as early as possible.