March 3, 2022 - Boston, MA – Today, Raffles Boston Back Bay Hotel & Residences, part of world leading hospitality group Accor, topped off, reaching 35 floors and raising a final beam decorated with a Raffles flag and a Travelers’ Palm Tree, which signifies a welcoming oasis and inspired the world renowned Raffles brand logo long ago. To commemorate the milestone, construction workers joined local developers Jordan Warshaw (The Noannet Group) and Gary Saunders (Saunders Hotel Group), their partners at Cain International, the privately held investment firm led by Jonathan Goldstein, Suffolk, the construction management firm, The Architectural Team, Inc. (TAT), and Madison Realty Capital.
By securing the air rights over the adjoining University Club, Raffles Boston was able to build a 35-story building employing a cantilever structure designed by Boston-based structural engineers McNamara Salvia. TAT and McNamara Salvia created an innovative structural system utilizing a combination of concrete superstructure and massive steel trusses, all supported by a series of 130’ long concrete caissons anchored in bedrock. With the completion of the building’s structure, the project team will now finalize the installation of its dynamic glass curtainwall façade, marking another important step towards opening.
“An incredibly talented team of 700 construction workers and tradesmen are working tirelessly on this project, and they deserve a badge of honor for getting us to this point – and doing so not only through three winter seasons in Boston, but also a two-year pandemic! Raffles Boston has already changed the Back Bay skyline and we are extremely proud of what the addition of this locally focused, internationally inspired brand will bring to our city. Just like the Travelers Palm that we ceremoniously raised to the 35th floor, Raffles Boston will be an oasis, not just for travelers, but for Bostonians. We look forward to opening in the year to come, and we extend our deepest thanks to Mayor Wu, the City of Boston, and all of our partners who have helped us reach this exciting milestone,” said Jordan Warshaw, Co-developer of the project and President of Noannet Group.
“Raffles is one of the most prestigious and beloved brands in our Accor portfolio, and to see this exceptional project - the first mixed-use Raffles property in North America - brought to life with such incredible precision and care is certainly remarkable,” said Heather McCrory, CEO, Accor North & Central America. “We are proud to be celebrating such a notable achievement with our esteemed partners that have shown unwavering dedication to this project since its inception and have shared in our vision of creating an extraordinary hotel and residences unlike any other in the historic, cosmopolitan city of Boston. One of the most anticipated additions to our portfolio, we are eager to open the doors of our North American Raffles flagship and welcome locals and travelers to Raffles Boston.”
“Raffles is among the most cherished names in hospitality, and we are incredibly proud to be delivering its first concept in North America. As we celebrate the final vertical beams being put into place, we want to thank the entire development team for all their hard work and dedication. This is a phenomenal achievement for a landmark property unlike any other in the region," said Jonathan Goldstein, Co-Founder and CEO of Cain International.
“We’re thrilled to mark this milestone as the Raffles Boston Back Bay Hotel & Residences reaches full height and prepares to take its place in our city’s skyline,” says Michael E. Liu, AIA, NCARB, Senior Partner and Design Principal at TAT. “From its innovative cantilevered structure to the distinctive, curved form, this graceful tower has been designed to enrich the urban fabric and offer an exciting new set of experiences for Bostonians and visitors alike. Seeing the final beam raised is a major step towards this goal and a proud moment for the entire team of project partners,” he added.
“We are honored to play a leadership role in the planning and construction of the incredible Raffles Boston Back Bay Hotel & Residences project for the development team and City of Boston,” said Jeff Gouveia, Executive Vice President and General Manager of Suffolk Northeast. “This important project milestone is a tribute to the level of collaboration exhibited by the entire team of developers, designers and construction professionals, along with the hard-working trade partners responsible for erecting this impressive structure. We look forward to continuing to work closely with this team to deliver a building of which the entire community will be proud.”
Located at 430 Stuart Street, Raffles Boston joins Raffles’ prestigious collection of 17 individually unique and timeless properties calling many of the world's most fascinating cities and vibrant destinations home, from Singapore to Paris, Bali to Phnom Penh, and Dubai to the Maldives.
Raffles Boston will provide over $22 million in public benefits in total, including street and public realm improvements, seven on-site affordable housing units and a contribution of over $13 million that will support additional affordable housing in Boston.
Targeting completion by early 2023, the project will bring to the Back Bay a level of glamour and adventure previously unseen in the Boston market. Its 147 guestrooms and 146 residences are joined by 16 distinct gathering spaces, ranging from quiet and intimate to vibrant and social, including a variety of special venues dedicated solely to building residents. Highlights within the 16 gathering spaces include six food and beverage venues, a three-story Sky Lobby perched high above Copley Square, a state-of-the-art Raffles Spa, a 20-meter indoor pool and fitness center, a magnificent rooftop garden terrace lounge, a variety of intimate residents-only gathering places, and a dramatic ballroom with expansive views over the Charles River.
For more information about Raffles Boston Back Bay Hotel & Residences, please visit www.raffles.com/promo/boston/ and follow @rafflesboston with hashtag #rafflesboston.
Please find Raffles Boston renderings available for use here.
About Raffles
Raffles Hotels & Resorts boasts an illustrious history and some of the most prestigious hotel addresses worldwide. In 1887, Raffles Singapore set the standard for luxury hospitality, introducing the world to private butlers, the Singapore Sling and its enduring, legendary service. Today, Raffles continues this tradition in leading cities and lavish resort locales, enchanting travellers with meaningful experiences and service that is both gracious and intuitive. Connoisseurs of life choose Raffles, not merely for its aura of culture, beauty and gentility, but for the extraordinary way they feel when in residence with Raffles. Each Raffles, be it Paris, Istanbul, Dubai, Warsaw, Jakarta or the Seychelles, serves as a venerated oasis where travellers arrive as guests, leave as friends and return as family. Raffles is part of Accor, a world leading hospitality group consisting of more than 5,200 properties and 10,000 food and beverage venues throughout 110 countries. raffles.com | all.accor.com | group.accor.com
About Trinity Stuart Development, LLC
Trinity Stuart Development LLC is a partnership between two Boston entities: developer Jordan Warshaw of The Noannet Group and hotelier Gary Saunders of Saunders Hotel Group, alongside their equity partner Cain International. It combines the development expertise of The Noannet Group with the three generations of hotel development and operations experience of Saunders Hotel Group and the real estate expertise of Cain International. The team is represented by multi-generational Boston property developers and operators with strong development track records and local relationships. With an organization-level commitment to excellence for over 75 years, Saunders Hotel Group has extensive, time-tested experience in the development, management and ownership of hospitality assets throughout Greater Boston. The Noannet Group was founded in 2011 by 25-year industry veteran Jordan Warshaw to develop architecturally significant mixed-use and residential buildings that enhance and transform communities. As two firms that focus on creating “best in class” hotels, residential and mixed-use buildings, the principals of Saunders Hotel Group and The Noannet Group have created a natural and synergistic partnership.
www.noannet.com | www.saundershotelgroup.com | www.cainint.com
About Cain International
Cain International is a privately held real estate investment firm operating in Europe and the United States. Since 2014, the company has invested over $6.3 billion into real estate debt and equity. Cain International also invests in lifestyle & leisure businesses that deliver experiences, services and amenities for modern consumers. Cain International is a partnership between its CEO, Jonathan Goldstein and Eldridge Industries. Cain International Advisers Limited, the firm’s asset management and investment advisory division, is an SEC-registered investment adviser.
www.cainint.com
About Accor
Accor is a world leading hospitality group consisting of more than 5,300 properties and 10,000 food and beverage venues throughout 110 countries. The group has one of the industry’s most diverse and fully-integrated hospitality ecosystems encompassing more than 40 luxury, premium, midscale and economy hotel brands, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor’s unmatched position in lifestyle hospitality – one of the fastest growing categories in the industry – is led by Ennismore, a joint venture, which Accor holds a majority shareholding. Ennismore is a creative hospitality company with a global collective of entrepreneurial and founder-built brands with purpose at their heart. Accor boasts an unrivalled portfolio of distinctive brands and approximately 260,000 team members worldwide. Members benefit from the company’s comprehensive loyalty program – ALL - Accor Live Limitless – a daily lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its Planet 21 – Acting Here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the Group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information visit group.accor.com, or follow Accor on Twitter, Facebook, LinkedIn, and Instagram.
About The Architectural Team (TAT)
Since 1971, the master planning, architecture, and interior design firm, The Architectural Team (TAT), has been recognized for its thought leadership and diverse portfolio of acclaimed design solutions. The 95+ person firm has earned more than 100 awards for design excellence across a broad range of building types and programs, including new construction of large-scale urban mixed-use developments, multifamily, commercial, waterfront and hospitality developments, assisted and senior living facilities, and community centers. TAT holds a national reputation in the areas of historic preservation, rehabilitation, and adaptive reuse—transforming neighborhoods across the United States by artfully restoring and reimagining neglected buildings for new uses while simultaneously preserving history. The firm’s distinctive design solutions are a result of TAT’s ability to understand and draw inspiration from the client’s vision, while respecting the character and quality of the natural and built environment. Thoughtful solutions begin with client goals. These goals evolve through collaborative relationships and come to life through the insight and expertise of TAT’s design teams. As trusted advisors and active listeners, TAT is dedicated to creating positive and lasting transformation in the communities it serves. For more information, visit www.architecturalteam.com
About Suffolk
Suffolk is a national real estate and construction enterprise with $5.0 billion in annual revenue, 2,300 employees and main offices in Boston (headquarters), New York, Miami, West Palm Beach, Tampa, Estero, Dallas, Los Angeles, San Francisco, and San Diego. Suffolk serves clients in every major industry sector, including healthcare, science and technology, education, gaming, transportation/aviation, and commercial. Suffolk is privately held and is led by founder, chairman and CEO John Fish. Suffolk is ranked #23 on the Engineering News Record list of “Top 400 Contractors.” For more information, visit www.suffolk.com and follow Suffolk on Facebook, Twitter, LinkedIn, YouTube, and Instagram.
About Madison Realty Capital (MRC)
Madison Realty Capital (MRC) is a New York City-based real estate private equity firm focused on real estate debt and equity investment strategies. Founded in 2004, MRC has invested in excess of $10 billion in the multifamily, retail, office, industrial and hotel sectors. The firm manages investments in the United States on behalf of a global investor base consisting of corporate and public pension funds, sovereign wealth funds, university endowments, foundations, fund of funds, family offices, and high net worth individuals. MRC is a fully integrated firm with over 70 employees across all real estate investment, development, and property management disciplines. Debt strategies include construction and acquisition lending, special situation financing and debt acquisitions; equity real estate strategies include opportunistic and value-add investments as well as ground-up development. Among other industry recognitions, MRC has been named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as one of the industry’s top construction lenders.
www.madisonrealtycapital.com