Seaport District

[4] Initially referred to as the Seaport District by the BRA, the area was officially restyled the "South Boston Waterfront" after virulent protest from natives and local politicians, including City Council President James M.

[11] This $14.6 billion project buried the formerly elevated Central Artery I-93 Interstate which previously cut off the waterfront from the rest of the city.

In May 2010, Menino announced plans for the city to develop 1,000 acres on the South Boston Waterfront as an Innovation District.

It was expected to cost $3 billion and replace parking lots between the federal courthouse and convention center with a 6,300,000-square-foot (590,000 m2) mixed-use development.

[18] Fan Pier is a nine-acre, 21 city block site which consisted largely of underutilized parking lots when the Fallon Company purchased it for $115 million in 2005.

When complete in 2020, the $4 billion Fan Pier project will encompass three million square feet of commercial and residential real estate, public, civic and cultural space, including two parks and a 6-acre marina.

On January 13, 2016, it was announced that GE would be moving its corporate headquarters from Fairfield, Connecticut, to the South Boston Waterfront.

[22][23] Subsequently, the company announced plans to shrink and eventually sold their property on Fort Point Channel for $287 million.

The reasons for the move, according to the company, is to be located in an urban environment that is more desirable to millennial workers and to "clarify the roles" of United States offices.

[28] According to The Boston Globe, a two-bedroom apartment in the Seaport area can rent for more than $5,000 per month and the purchase cost would be more than $2 million in 2018.

[30] A 2021 report by the First Street Foundation found that all critical infrastructure, nearly all commercial buildings, and 90% of roads in the Seaport District are at risk of becoming inoperable by mid-century due to climate-related flooding.