Raffles breaks ground on new $400-million+ project in Boston
In exciting news for both the illustrious Raffles Hotels & Resorts brand and the City of Boston, Raffles Boston Back Bay Hotel & Residences broke ground last month, marking the first step towards the much-anticipated 2022 opening of the 33-storey, $400-million+ project. Slated to be the first mixed-use property in North America for the world-renowned hospitality brand, Raffles Boston Back Bay Hotel & Residences will be located at 40 Trinity Place, Boston, MA.
The flagship North American property will be a welcoming oasis within the heart of the city, blending Raffles’ sense of adventure, glamour and style, gracious and intuitive hospitality, and thoughtful, locally inspired design with the cosmopolitan charm of the Back Bay. Featuring 147 guestrooms, 146 branded residences and six food and beverage venues, Raffles Boston Back Bay Hotel & Residences joins Raffles’ prestigious collection of 14 individually unique and timeless properties located in the world’s most fascinating cities and vibrant destinations.
The project will provide over $22 million in public benefits in total, including street and public realm improvements, seven on-site affordable housing units and a contribution of over $13 million that will support additional affordable housing in Boston.
Raffles Boston Back Bay Hotel & Residences is being developed in a joint venture between Trinity Stuart LLC, which is a partnership between two Boston entities: hoteliers Gary and Jeffrey Saunders of Saunders Hotel Group and developer Jordan Warshaw of The Noannet Group, together with their equity partner Cain International. Accor, world-leading augmented hospitality group and the Paris-based parent of Raffles Hotels & Resorts, is the hotel management partner, and Madison Realty Capital is providing $314 million in construction financing.
Mayor Martin J. Walsh applauded the development and pointed to its public benefits, stating: “Raffles Boston Back Bay Hotel & Residences will create job opportunities for our residents, and improved street and pedestrian connections in the Back Bay. In addition to the creation of seven on-site income-restricted units, the project will provide over $13 million to support affordable housing. I am pleased that Accor chose Boston as its first home in North America for a Raffles Hotel & Residences. I thank all of the partners involved for their vision, hard work and collaboration on this transformational Back Bay project.”