Suffolk Construction said today it has been selected to manage construction of the One Channel Center project in Boston’s Innovation District.
The $125 million project, developed by a joint venture of AREA Property Partners and Commonwealth Ventures, will feature construction of a 525,000-square-foot, 11-story core and shell office building and a 10-level, 950-car above-ground parking garage.
When completed, the new building will be fully occupied by State Street Corp., which is consolidating various operations as leases run out around Greater Boston. The financial firm will maintain its headquarters at One Lincoln in downtown Boston.
Along with the construction of the One Channel Center facility, the scope of the project will include the creation of two open-space areas — the 72,000-square-foot New Park and the 9,000 square-foot Iron Street Park. The Suffolk project team will also manage streetscape improvements consisting of new sidewalks, street trees and lighting.
Construction is scheduled for completion in 2014.