Luxury housing project swells Seaport boom

Developer John Drew will start building his long-delayed Waterside Place project on the South Boston waterfront later this month.

The $120 million tower at the corner of Congress and D streets will add 236 luxury apartments and possibly a pharmacy to the growing neighborhood. A follow-up phase is expected to bring a supermarket.

“I think what you’re going to see with that project are the amenities that are needed for the businesses that are locating on the waterfront,” said Greg Vasil, CEO of the Greater Boston Real Estate Board. “There’s a reason to be there, and now the other stuff will come.”

Drew, who was not available yesterday, is planning a June 26 groundbreaking ceremony for Waterside Place, which will be built on a three-acre parking lot leased from Massport.

The project won city approval in 2007, but was shelved during the Great Recession and later revised. Drew was a pioneer in the area, building the World Trade Center and the Seaport Hotel with investor Fidelity Investments between the mid-1980s and early 2000s.

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