TRANSACTION SUMMARY
In 1984, The Congress Group acquired two warehouse structures in the historic Charlestown Navy Yard. The abandoned warehouses were obtained on a long-term lease from the City of Boston. Charlestown Navy Yard was one of many military facilities that the U.S. government closed in the mid-1970s. The government began selling selective parcels within the facility following closure.

VALUE ADDED BY MANAGEMENT
Despite the strict requirements of the National Park Service (NPS) for preserving the character of these historic structures, The Congress Group was able to work with NPS and the Boston Redevelopment Authority to renovate Building 149, a 10-story World War I-era concrete naval warehouse. Another warehouse, Building 199, was redesigned as a 1,400-car parking facility.

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