S
uffolk University is moving forward with a significant office-to-dorm conversion in downtown Boston, backed by a $158 million bond issuance to finance the redevelopment. The project involves transforming the former office building at 101 Tremont St. into housing for 280 students, set to be completed by fall 2026.

    The city's high office vacancy rates have created opportunities for adaptive reuse, with Mayor Michelle Wu's administration encouraging such conversions through subsidies. Suffolk acquired the building last year from an affiliate of Australia's Macquarie Group for $30 million and plans to use $100 million of the borrowed funds for the conversion.

    The Beantown Pub on the ground floor will remain operational during and after the redevelopment. This project aligns with Suffolk's previous successes in converting underutilized properties, including the former Ames Hotel into a residence hall for 300 students in 2019.

    Suffolk officials stated that this development will address a critical student housing need, highlighting the university's growing strategy of adapting to shifting urban real estate dynamics.