BXP · 8-K · 20261027PR000041

Development Pipeline

BXP, Inc. · 2026-10-27 · Importance 56 · Surprise 24 · In source text

At September 30, 2026, BXP reported $2.935 billion of estimated total investment across 3.507 million square feet of office and residential properties under construction, with $1.125 billion invested to date and an estimated future equity requirement of $748.2 million. The office projects include 343 Madison Avenue in New York, with estimated total investment of $1.750 billion and stabilization expected in Q2 2031, and 725 12th Street in Washington, DC, with $349.6 million of estimated investment and stabilization expected in Q3 2029. Residential projects include 121 Broadway Street in Cambridge, Massachusetts, with estimated investment of $597.8 million and stabilization expected in Q2 2029. The company also listed 13.288 million developable square feet of owned land and 3.073 million square feet subject to purchase options, while noting development is subject to permitting and entitlement processes.

Key facts

• 343 Madison Avenue (89.45% ownership) was under construction with 930,000 square feet, estimated total investment of $1.75 billion, total financing of $1.0734 billion, amount drawn of $71.634 million, future equity requirement of $250.197 million, and 56% leased; initial occupancy is estimated for Q3 2029 and stabilization for Q2 2031. source
• At September 30, 2026, BXP had 1,613,000 square feet of office properties under construction, with estimated total investment of $2.1866 billion and estimated future equity requirement of $546.132 million; the portfolio was 71% leased. source
• At September 30, 2026, BXP had 3,506,650 square feet of properties under construction, estimated total investment of $2.9354 billion, total financing of $1.163208 billion, and estimated future equity requirement of $748.157 million; total portfolio leased percentage was 70%. source
• 725 12th Street is estimated to have initial occupancy in Q1 2029 and stabilization in Q3 2029; it has 320,000 square feet, estimated total investment of $349.6 million, future equity requirement of $223.835 million, and is 93% leased. source
• Reservoir Place is estimated to have initial occupancy and stabilization in Q2 2027; the redevelopment project has 363,000 square feet, estimated total investment of $87 million, future equity requirement of $72.1 million, and 89% leased. source
• At September 30, 2026, BXP had 1,893,650 square feet of residential properties under construction, with estimated total investment of $748.8 million and estimated future equity requirement of $202.025 million. source
• BXP had 13,288,000 total developable square feet in owned land parcels and properties held for redevelopment as of September 30, 2026. source
• BXP expects to be a 50% partner in future development of land sites in Waltham, Massachusetts, comprising approximately 1.2 million developable square feet. source

Impact estimates