April 14, 2026

Swedish puts First Hill development site on the block

Photo via CBRE [enlarge]

This view looks roughly northeast.

Part of the Swedish First Hill Campus consists of a small trapezoidal block at 1401 Madison St. It has one active building at that address, plus two old structures on Boylston.

The block is also bounded by Broadway (and streetcar tracks), and totals about 30,720 square feet.

Now it could be yours. CBRE recently put the block on the market, unpriced. Because it's part of the Swedish MIO campus area (think: major institutional overlay), it has high-rise zoning. So an apartment or condo tower could in theory be built up to 200 feet.

The two south buildings are vacant; one was previously home on an interim basis to the Museum of Museums, which closed three years ago.

Swedish, part of the Providence healthcare network, completed its assemblage of the block in 2020, when it then acquired the middle parcel from a local investor. (That's the former Joslin Center for Diabetes.) At the time, the block seemed to be vest-pocketed for possible future development, but with no plans filed.

Meanwhile, Providence Swedish is now under construction on Hughes Tower (formerly the North Tower), which will add about 750,000 square feet to the campus. That's part of an over two-decade-old campus plan, which also included the demolition of some smaller, older structures — plus the planned new Block 95 tower, which is on indefinite pause.

Like every other medical provider in the U.S., Providence Swedish was financially strained by the pandemic. It announced 300 job cuts last fall. Its 1401 Madison building, which the city also calls the Alcoa Building, is now home to the family medicine practice, with about 28,525 square feet. That's about half a floor at Hughes Tower, which will open next year.

Swedish hasn't yet filed for demolition permits on the block. CBRE also hasn't set a deadline for offers. Offices are mentioned as one possible use, but that market remains moribund. Multifamily seems the more likely path. CBRE's brokers there are Kyle Yamamoto, Jordan Louie, Reed Hunter and Natalie Kasper.