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Tavros Acquires 250 Water St. for $143M, Plans 600 Apartments

2/8/2026

Summary

Story summary

Tavros has completed its acquisition of the one-acre site at 250 Water St. for $143 million, down from the previously reported $150.5 million.
The developer intends to increase the rental apartments from 400 to 600, with 25% designated as affordable, including 80% classified as “deeply” affordable.
The project will preserve the facade designed by Skidmore, Owings & Merrill, with Fogarty Finger serving as the new design architect.
The development will include a five-story base featuring retail space and landscaped public areas, but the timeline for breaking ground is unclear.

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Story summary

Tavros has completed its acquisition of the one-acre site at 250 Water St. for $143 million, down from the previously reported $150.5 million.
The developer intends to increase the rental apartments from 400 to 600, with 25% designated as affordable, including 80% classified as “deeply” affordable.
The project will preserve the facade designed by Skidmore, Owings & Merrill, with Fogarty Finger serving as the new design architect.
The development will include a five-story base featuring retail space and landscaped public areas, but the timeline for breaking ground is unclear.