The stalled Copley Place tower project may come back to life as a luxury apartment high-rise.
The head of developer Simon Property Group recently hinted at a shift for the 47-story tower, which had been approved for 318 condominium units.
"We're still designing the building," CEO David Simon said during an earnings conference call last month. "But the idea that we're circling right now is to do mostly rentals, though there will be some condo element to it."
Simon spokesman Les Morris declined to elaborate on the plan yesterday.
The Boston Redevelopment Authority approved the $500 million project last fall but has not received any updates lately. Neither has the Massachusetts Department of Transportation, which leases the property to Indianapolis-based Simon.
The Copley Place tower would take several years to build. It would add a prominent glass structure to the Back Bay skyline between the Prudential and Hancock towers.
Greg Vasil, CEO of the Greater Boston Real Estate Board, said there's a strong market for apartments in Boston now. "With all the other projects in the pipeline, I'd assume they would want to move forward fairly quickly," he said.
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