News and Press

National Celebrates the Topping Off of One Congress

July 15, 2021

BOSTON – July 15, 2021 – Today, Carr Properties, National Real Estate Advisors, LLC (National) and The HYM Investment Group, along with John Moriarty & Associates and hundreds of women and men from the building trades, celebrate the topping off of One Congress, the ceremonial marking of completing vertical construction. This six-hundred-foot-tall tower will consist of one million square feet of office space, including the future headquarters of State Street Corporation. The building, part of the Bulfinch Crossing redevelopment, is owned through a joint venture between Carr Properties and National on behalf of its clients. The HYM Investment Group is the developer of the project.

Designed by world-renowned architects Pelli Clarke Pelli and CBT Architects and interior design firm Gachot Studio, One Congress is becoming a new fixture of the Boston skyline, and will provide those who occupy the new Class A office space with breathtaking panoramic views of the city, the Boston Harbor, Financial District and the Charles River. One Congress will offer access to world-class amenities such as a 30,000 square foot, outdoor roof garden on the eleventh floor, over 30,000 square feet of fitness, wellness, food and beverage offerings, as well as an expansive bike facility and below-grade parking.

One Congress broke ground in June of 2019 and is expected to be completed January 2023. In January 2019, State Street Corporation, the Boston-based Fortune 500 financial services firm, announced that it would be relocating its headquarters to One Congress, occupying 510,000 square feet of the one million square feet that the building will offer.

“We are thrilled to officially top off One Congress and celebrate the accomplishments of all those who have worked together to reach this major milestone,” said Oliver Carr, Chief Executive Officer of Carr Properties. “We are getting closer to being able to welcome our customers to a property that exemplifies the future workplace experience. At Carr Properties, we strive to create a thoughtful and inspiring work environment, engaging programming and activities, but most of all, a warm and elevated level of service where each of our customers feels genuinely cared for.”

Situated at the epicenter of prime transportation options—three blocks from North Station, immediate access to the Haymarket MBTA Station (located on site), with proximity to Logan Airport, and I-93 and I-90, and featuring a 99-point Walk Score—the office tower embraces transit-oriented development and a multi-modal future. Likewise, One Congress’ proximity and accessibility to the Rose Kennedy Greenway and other iconic Boston neighborhoods that surround it such as the North End, Beacon Hill, and West End, provide a dynamic ground-level experience, making it one of the most sought-after places to work in the city.

“This project exemplifies National’s commitment and dedication to developing signature, build-to-core, urban projects,” said Jeffrey Kanne, President and CEO of National Real Estate Advisors. “We are proud to create jobs and seek to produce attractive returns for our institutional clients in the communities we invest in. This landmark building could not be possible without the hard work and dedication of experienced and steadfast labor.”

“One Congress is well on its way to becoming one of the most distinctive and defining buildings built in Boston in the last two decades,” said developer Thomas N. O’Brien, founding partner and managing director of The HYM Investment Group. “With our partners in One Congress, we are bringing over a million square feet of new, Class A office space onto the market in an accessible location where Bostonians want to live and work. We are incredibly grateful for the hard work of the people at every stage from design to construction who are making the vision we had for this building a reality.”

About Carr Properties

Carr Properties is a privately held real estate investment trust that owns, manages, acquires, and develops high-quality properties in Washington, D.C., Boston, Massachusetts, and Austin, Texas. The company currently owns a portfolio of 14 commercial office properties totaling approximately 4.7 million square feet and maintains a pipeline of three development projects that will add a further 2.0 million square feet of trophy-quality office space to the company’s portfolio. Additionally, Carr Properties currently manages six third-party properties, totaling 2.6 million square feet. Carr Properties continues to expand through strategic investments in the Washington, D.C., Massachusetts, and Texas markets. For more information, please visit carrprop.com.

 About National Real Estate Advisors, LLC

National Real Estate Advisors, LLC is an investment manager specializing in a build-to-core strategy, developing and managing large-scale, urban commercial and multifamily projects for its institutional client accounts. National constructs investment portfolios of modern property assets—apartment, office, mixed use, industrial (including data centers), and hotel—with design features, technological enhancements, and amenities that drive high tenant demand and can create value for investors. National is an independently operated subsidiary of the National Electrical Benefit Fund (“NEBF”), a substantial pension trust with a significant amount of assets that are managed by National on a discretionary basis. For more information, please visit www.natadvisors.com.

 About The HYM Investment Group, LLC:

The HYM Investment Group is a premier development company that is leading the development of more than 20 million square feet of real estate throughout Greater Boston. The company creates mixed-use communities that strive to push the needle on sustainability, creativity and technology for a more productive and resilient future. The team has an unparalleled knowledge of the development process that allows the company to bring complex projects to market through community input and support. With a team made up of 50% women and 30% people of color, HYM is committed to building projects that prioritize inclusion and embrace Greater Boston’s rich diversity. From projects like Suffolk Downs to Bulfinch Crossing, the team is leading the industry on creating some of the most thriving neighborhoods in the region. To learn more, please go to www.hyminvestments.com.