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Banners have been advertising that “Fan Pier is Here” for months. On Wednesday that statement finally came true when developer Joseph Fallon and local dignitaries held a groundbreaking ceremony for the first 500,000-square-foot office building on the south Boston waterfront site.

“Thanks to our many years of planning, this will be a place all Bostonians can enjoy,” Mayor Thomas Menino proclaimed today at the ceremonial groundbreaking of Fan Pier, a 21-acre development on the South Boston waterfront.

Boston developer Joseph Fallon will break ground today on Fan Pier – a $1 billion-plus bet on Boston’s waterfront that comes even as the local real estate and financial landscape is shifting.

A ground breaking ceremony for first building at the $1 billion Fan Pier project is scheduled for Sept. 26, 2007.

The long-awaited Fan Pier project will begin construction at the end of September, kicking off a $1 billion-plus development expected to transform South Boston’s fast developing waterfront.

Milton Residences for the Elderly and Boston Mayor Thomas M. Menino joined developer Joseph Fallon, South Boston Elderly Residences, and the community for a ribbon-cutting ceremony June 4 to celebrate the addition of the 376 West Fourth Street Apartments to the community. The newly renovated residential building boasts 18 affordable one-bedroom apartments for the elderly.

After 20 years of controversy, a building has been constructed on the parking lot that occupies the best undeveloped site on the Boston waterfront. This one-story marketing center looks nothing like the lavish 18-story office building or 20-story hotel/condominium building that are among those planned for the site. 

Fan Pier developer Joseph Fallon has unleashed an unusual marketing blitz – featuring billboard ads aimed at office tenants – as he prepares to break ground on the giant waterfront project this fall.

When Joe Fallon plunked down $115 million in September 2005 for Fan Pier, the 21-acre site that sits next to Boston’s Financial District and overlooks Boston Harbor, it was only the beginning of his quest to do what many before him had attempted — and failed — to do during the past 25 years: convert […]