Ashkenazy Unveils Faneuil Hall Makeover Plan

Ashkenazy Acquisition Corp. has filed plans with the city of Boston for a bold transformation of Faneuil Hall Marketplace, one of the nation’s premier retail properties.

Ashkenazy Acquisition Corp. has filed a master plan with the city of Boston for a bold transformation of Faneuil Hall Marketplace, one of the nation’s premier retail properties.

Faneuil Hall

Faneuil Hall

“We are committed to this property and believe in its intrinsic value as an important and relevant historic place in Boston and the U.S.,” Barry Lustig, Ashkenazy’s executive vice president, said in a statement. “Equally important is our focus on new uses and interactive spaces where visitors and city dwellers can co-exist and take part in free, unique and interactive experiential activities located alongside shopping and dining.”

New York City-based Ashkenazy acquired the property nearly three years ago, and has been working with noted architect Howard Elkus of Elkus Manfredi Architects to develop a renovation plan that would appeal to the young professionals and families of downtown Boston.

“Over 18 million visitors a year recognize Faneuil Hall Marketplace as Boston’s greatest historic treasure. Our charge was to make the Marketplace relevant to Bostonians again,” Elkus said. “We have approached this unique challenge with the greatest care and sensitivity to its landmark architecture—building on the significant work done by Ben Thompson in the 1970s.”

Located at 1 Faneuil Hall Square, Faneuil Hall Marketplace currently comprises more than 70 retailers occupying 200,000 square feet, 40 office tenants and an additional 160,000 square feet of space.

Ashkenazy’s plans call for a new hotel located in the South Market Building, retail pavilions and improvements to public areas that will include free activities year round.

Those public-area improvements will include water features; updates to the historic landscape; new lighting and electronic wayfinding. Two transparent sheds at opposite ends of the South Market will capture the outdoor atmosphere and allow patio uses year-round. A glass coffee pavilion will also be situated in the midpoint of the South Market Building, and rotunda space will be designed to be accessible day and night with live music and dining areas.

New tenants that have already signed on to the future Faneuil Hall Marketplace include Uniqlo’s Boston flagship location, Ghirardelli Café, and the world’s only “Make Way For Ducklings” store.

Photo Credit: Ashkenazy Acquisition Corp.