Financial District, Boston, Massachusetts
Encyclopedia
The Financial District of Boston, Massachusetts
, United States
is located in the downtown area near Government Center
and Chinatown
.
Like many areas within Boston, the Financial District has no official definition. It is roughly bounded by Atlantic Avenue
, State Street, and Devonshire Street. Parts of the Financial District are in various USPS
postal ZIP Code
s including 02108, 02109, 02110, and 02111.
The area includes Post Office Square
, the Exchange Place
and International Place complexes, and the landmark Custom House Tower
(now a private condominium).
The Financial District also contains the headquarters of the mutual fund companies Fidelity Investments
, Putnam Investments
, and DWS Scudder Investments; the world headquarters for State Street Bank and Eastern Bank
; accounting firms PricewaterhouseCoopers
and RSM McGladrey
; loan advisor The Debt Exchange; the law firms of Goodwin Procter
, WilmerHale, Kirkpatrick & Lockhart Nicholson Graham, and Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, PC; the local headquarters of Bank of America
(formerly Fleet Bank
) and Sovereign Bank
; the Langham Hotel Boston
and Hilton
Hotel; and the local offices of Merrill Lynch
and other brokerages.
Dewey Square, One Financial Center
, and the plaza and towers housing the Federal Reserve Bank of Boston
are located near South Station
, adjacent to and just south of the area defined above. Also part of the Financial District are 33 Arch Street
, One Federal Street
, the First National Bank Building
building, and 101 Federal Street
. The area contains many of Boston's highrise buildings in a fairly densely packed area, significantly more than the Back Bay which contains Boston's two tallest highrises, the Prudential Center and the John Hancock Tower
. Many of the Financial District's highrises range in heights upwards of 500 feet and most climb above 40 stories.
There area also numerous proposals and highrises under construction in the area. Russia Wharf
is currently the tallest under construction, rising to 32 stories and 395 feet when completed. South Station Tower
has been approved for the area above South Station
and will rise to 41 stories and 621 feet.
Other proposals that would significantly change and enlarge the skyline of Boston inclue Trans National Place
which would rise to 1,175 feet becoming one of the nation's tallests highrises. There have also been some other proposals such as the Congress Street Towers, and the Aquarium Garage Towers which woud both be upwards of 50 stories and at least 500 feet.
building. Fish & Richardson
has its headquarters in the State Street Bank Building
in the Financial District. In 2009 Fish & Richardson agreed to lease space in One Marina Park in South Boston as its new headquarters and abandon its current headquarters. It will move beginning in the third quarter of 2010.
Massachusetts
The Commonwealth of Massachusetts is a state in the New England region of the northeastern United States of America. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. As of the 2010...
, United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
is located in the downtown area near Government Center
Government Center, Boston, Massachusetts
Government Center is an area in downtown Boston, bounded by Cambridge, Court, Congress, and Sudbury Streets. Formerly the site of Scollay Square, it is now the location of Boston City Hall, two Suffolk County courthouses, two state office buildings, and two federal office buildings, a major MBTA...
and Chinatown
Chinatown, Boston
The only historically Chinese area in New England, Chinatown, Boston is a neighborhood located in downtown Boston, Massachusetts. Centered on Beach Street, the neighborhood borders Boston Common, Downtown Crossing, the South End, and the Southeast Expressway/Massachusetts Turnpike.Part of it...
.
Like many areas within Boston, the Financial District has no official definition. It is roughly bounded by Atlantic Avenue
Atlantic Avenue (Boston)
Atlantic Avenue is a street in downtown Boston, Massachusetts, USA, partly serving as a frontage road for the underground Central Artery and partly running along the Boston Harbor...
, State Street, and Devonshire Street. Parts of the Financial District are in various USPS
United States Postal Service
The United States Postal Service is an independent agency of the United States government responsible for providing postal service in the United States...
postal ZIP Code
ZIP Code
ZIP codes are a system of postal codes used by the United States Postal Service since 1963. The term ZIP, an acronym for Zone Improvement Plan, is properly written in capital letters and was chosen to suggest that the mail travels more efficiently, and therefore more quickly, when senders use the...
s including 02108, 02109, 02110, and 02111.
The area includes Post Office Square
Post Office Square, Boston, Massachusetts
Post Office Square in Boston, Massachusetts is located in the financial district at the intersection of Milk, Congress, Pearl and Water Streets. It was named in 1874 after the post office which fronted it, now replaced by the John W...
, the Exchange Place
Exchange Place (Boston)
Exchange Place is a modern skyscraper in the Financial District of Boston, Massachusetts. Built in 1985, it is tied with the neighboring 60 State Street as Boston's 12th tallest building, standing 510 feet tall, and housing 40 floors....
and International Place complexes, and the landmark Custom House Tower
Custom House Tower
The Custom House Tower - now Marriott's Custom House Hotel - is a skyscraper in McKinley Square, in the Financial District neighborhood of Boston, Massachusetts, in the United States. Construction began in the mid-19th century; the tower was added in the 1910s...
(now a private condominium).
Fidelity Investments
FMR LLC or Fidelity Investments is an American multinational financial services corporation one of the largest mutual fund and financial services groups in the world. It was founded in 1946 and serves North American investors. Fidelity Ventures is its venture capital arm...
, Putnam Investments
Putnam Investments
Putnam Investments is a privately owned investment management firm founded in 1937 by George Putnam, who established one of the first balanced mutual funds, The George Putnam Fund of Boston...
, and DWS Scudder Investments; the world headquarters for State Street Bank and Eastern Bank
Eastern Bank
Eastern Bank is the largest independent, mutually owned bank in New England and the largest community bank in Massachusetts. With 82 branches, Eastern has a 2.83% market share in Massachusetts as of 2009...
; accounting firms PricewaterhouseCoopers
PricewaterhouseCoopers
PricewaterhouseCoopers is a global professional services firm headquartered in London, United Kingdom. It is the world's largest professional services firm measured by revenues and one of the "Big Four" accountancy firms....
and RSM McGladrey
RSM McGladrey
McGladrey is the 5th largest accounting firm in the United States by revenue and a member of the global accounting network RSM International.The firm has more than 8,000 employees across 85 offices nationwide providing assurance, tax, and consulting services...
; loan advisor The Debt Exchange; the law firms of Goodwin Procter
Goodwin Procter
Goodwin Procter LLP is a prominent law firm based in the United States, consisting of 850 attorneys serving clients in Boston, Hong Kong, London, Los Angeles, New York City, Silicon Valley, San Diego, San Francisco, and Washington, D.C....
, WilmerHale, Kirkpatrick & Lockhart Nicholson Graham, and Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, PC; the local headquarters of Bank of America
Bank of America
Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
(formerly Fleet Bank
FleetBoston Financial
FleetBoston Financial was a Boston, Massachusetts–based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were given the Bank of America logo.-History:...
) and Sovereign Bank
Sovereign Bank
Sovereign Bank is a wholly owned subsidiary of the Spanish Grupo Santander. Based in Boston, Massachusetts, the bank—whose principal market is in the Northeastern United States—has more than $77 billion in assets, operates 723 retail banking offices, over 2,300 ATMs and employs approximately 8,500...
; the Langham Hotel Boston
Langham Hotel Boston
Situated in the heart of downtown Boston financial district, Langham Hotel Boston is an updated, yet historic, luxury hotel. Originally the Federal Reserve Bank, this AAA four diamond property is a national architectural landmark....
and Hilton
Hilton Hotels
Hilton Hotels & Resorts is an international chain of full-service hotels and resorts founded by Conrad Hilton and now owned by Hilton Worldwide. Hilton hotels are either owned by, managed by, or franchised to independent operators by Hilton Worldwide. Hilton Hotels became the first coast-to-coast...
Hotel; and the local offices of Merrill Lynch
Merrill Lynch
Merrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
and other brokerages.
Dewey Square, One Financial Center
One Financial Center
One Financial Center is a modern skyscraper adjacent to Dewey Square in the Financial District of Boston, Massachusetts. Built in 1983, it is Boston's 7th-tallest building, standing 590 feet tall, and housing 46 floors. An unusual 90 ft tall glass-roofed lobby, known as the atrium,...
, and the plaza and towers housing the Federal Reserve Bank of Boston
Federal Reserve Bank of Boston
The Federal Reserve Bank of Boston, commonly known as the Boston Fed, is responsible for the First District of the Federal Reserve, which covers most of Connecticut , Massachusetts, Maine, New Hampshire, Rhode Island and Vermont. It is headquartered in the Federal Reserve Bank Building in Boston,...
are located near South Station
South Station
South Station, New England's second-largest transportation center , located at the intersection of Atlantic Avenue and Summer Street in Dewey Square, Boston, Massachusetts, is the largest train station and intercity bus terminal in Greater Boston, a prominent train station in the northeastern...
, adjacent to and just south of the area defined above. Also part of the Financial District are 33 Arch Street
33 Arch Street
33 Arch Street is a contemporary highrise in the Financial District and Downtown Crossing neighborhoods of Boston, Massachusetts. The building was completed in 2004 after three years of construction which began on June 5, 2001. It is tied with the State Street Bank Building as Boston's...
, One Federal Street
One Federal Street
One Federal Street is a skyscraper in the Financial District neighborhood of Boston, Massachusetts. Completed in 1975, it is Boston's 11th-tallest building, standing 520 feet tall, and housing 38 floors....
, the First National Bank Building
First National Bank Building (Boston)
The First National Bank Building is a skyscraper located in the Financial District of Boston, Massachusetts, USA, property of the First National Bank. The skyscraper, rising 591 feet and 37 floors, is Boston's sixth-tallest building. The building was completed in 1971, and formerly served as the...
building, and 101 Federal Street
101 Federal Street
101 Federal Street is a skyscraper on Federal Street in the Financial District neighborhood of Boston, Massachusetts. Completed in 1988, the 116 meter building was designed by Kohn Pedersen Fox Associates PC...
. The area contains many of Boston's highrise buildings in a fairly densely packed area, significantly more than the Back Bay which contains Boston's two tallest highrises, the Prudential Center and the John Hancock Tower
John Hancock Tower
The John Hancock Tower, officially named Hancock Place and colloquially known as The Hancock, is a 60-story, 790-foot skyscraper in Boston. The tower was designed by Henry N. Cobb of the firm I. M. Pei & Partners and was completed in 1976...
. Many of the Financial District's highrises range in heights upwards of 500 feet and most climb above 40 stories.
There area also numerous proposals and highrises under construction in the area. Russia Wharf
Russia Wharf
Russia Wharf is a high-rise building under construction in downtown Boston, Massachusetts. The building will stand at 395 feet with 33 floors. Construction began in 2007, and the building is scheduled to be completed by the end of 2010. Upon completion, it will stand as the 31st tallest building...
is currently the tallest under construction, rising to 32 stories and 395 feet when completed. South Station Tower
South Station Tower
South Station Tower is a skyscraper approved for construction in Boston, Massachusetts. The tower is planned to rise 621 feet , with 41 floors, and will consist of a hotel, condominium units, office space, and a parking structure. It is planned to be built atop Boston's historic South Station complex...
has been approved for the area above South Station
South Station
South Station, New England's second-largest transportation center , located at the intersection of Atlantic Avenue and Summer Street in Dewey Square, Boston, Massachusetts, is the largest train station and intercity bus terminal in Greater Boston, a prominent train station in the northeastern...
and will rise to 41 stories and 621 feet.
Other proposals that would significantly change and enlarge the skyline of Boston inclue Trans National Place
Trans National Place
Trans National Place, also known as 115 Winthrop Square, is a proposed supertall skyscraper in Boston, Massachusetts. Original designs were completed by architect Renzo Piano, who later left the project in March 2007...
which would rise to 1,175 feet becoming one of the nation's tallests highrises. There have also been some other proposals such as the Congress Street Towers, and the Aquarium Garage Towers which woud both be upwards of 50 stories and at least 500 feet.
Economy
State Street Corporation has its headquarters in the One Lincoln StreetOne Lincoln Street
One Lincoln Street, also known as State Street Financial Center, is a skyscraper in Boston, Massachusetts on the edge of both the Financial District and neighborhood of Chinatown. Completed in 2003, it was built using Boston Redevelopment Authority guidelines. Standing at 503 feet tall, One...
building. Fish & Richardson
Fish & Richardson
Fish & Richardson P.C. is a national law firm practicing intellectual property law.Fish is the 109th largest firm in the United States. Fish has over 350 attorneys, of which 96 percent are dedicated to intellectual property law. Fish is one of the most sought-after firms for both patent...
has its headquarters in the State Street Bank Building
State Street Bank Building
State Street Bank Building, also known as 225 Franklin Street, is a high-rise building located in the Financial District, Boston, Massachusetts. The building stands at 477 feet with 33 floors, and was completed in 1966. It is tied with 33 Arch Street as the 19th-tallest building in Boston. The...
in the Financial District. In 2009 Fish & Richardson agreed to lease space in One Marina Park in South Boston as its new headquarters and abandon its current headquarters. It will move beginning in the third quarter of 2010.