State Street latest to get tax break on waterfront property
Boston officials will give State Street Corp. $11.5 million in tax cuts to construct a new office building on the South Boston waterfront, part of the city’s effort to transform the once shabby industrial neighborhood into a thriving district of new homes, businesses, and retail stores. The tax deal announced today will help finance construction of an 11-story office building for State Street at the Channel Center complex off A Street. The $11.5 million tax break, which still needs approval from the Boston Redevelopment Authority, will be spread over 15 years.
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