Pierce Boston, a 30-story residential tower, is planned for the junction of Boylston Street and Brookline Avenue in the Fenway.
he first big residential project in Boston financed in part by money from China broke ground Thursday.
It probably won’t be the last.
When developer Steve Samuels, Mayor Martin J. Walsh, and others lined up for a ceremonial groundbreaking at Pierce Boston, a 30-story luxury residential tower in the Fenway, one of the men hoisting a golden shovel was a top executive at one of the biggest home builders in China.
Landsea Holdings Corp. is partnering with Samuels on the project, bringing money, design expertise and, potentially, a pool of customers for its 109 luxury condos. The company builds 12,000 houses a year in China, and with the economy there cooling off it has begun expanding in the United States. It is building subdivisions in the San Francisco Bay and Los Angeles areas and a condominium development in Weehawken, N.J., across the Hudson River from Manhattan.
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