It has not been terribly clear what is happening with the Modern South End. An auction was planned for Sunday May 18th at the Colonnade Hotel to unload the remaining 10 units in the building, however, the auction has been canceled.

The 10 units are still for sale, but the developer received enough inquiries and subsequent interest in submitting early bids, that they plan to not hold the actual auction event, and instead, solicit offers via a sealed bid process on the units up through 7pm on Sunday May 18, 2008, at which time the developer will review all of the offers. 3 of the units have already gone Under Agreement.

Several major takeaways from this information:

1. Do not show up at the Colonnade Hotel trying to attend the now canceled auction on Sunday May 18, 2008.
2. If you are interested in submitting an offer on one of the remaining units at the Modern, please contact us, we will work with you to submit an offer before the 7pm deadline on Sunday May 18, 2008.

With all the buzz about the Modern South End auction (see Modern South End Auction), the thought of a second phase of loft-style condos adjacent to the current development site has been tabled as a topic of popular conversation. The official situation is that no record of a potential second phase currently exists in the Boston Redevelopment Authority’s records.

The unofficial word is that there are still rumors that the second phase will eventually happen, which would be a great addition to the neighborhood. One of the underlying goals of building a development like the Modern South End at the far western border of the South End (some may, and do, even say Roxbury), was to take a bold step forward in enriching the architectural landscape and residential options in a part of the city that has not seen a tremendous amount of such development happen. Will the trend continue? We think the answer is yes. At its core, this is a function of supply and demand, and space limitations that are the standard in major metropolitan areas. Simply put, there is little to no undeveloped land remaining in the core of the city, demand to live in downtown Boston (or any major city for that matter) remains high, and thus, we’ll continue to see further development and gentrification of the area surrounding the Modern South End building.

Are there immediate plans to move forward with a second phase of the Modern South End? The blank slate is there and available based on the below exclusive photos of the cleared land to the immediate north of the current Modern building. Time will tell.

Note: The Modern South End Auction has been canceled. Click on ‘The Modern South End’ tag above to see the most recent updates.

Ten units at the Modern South End will go to auction on Sunday, May 18, 2008 at 1PM in the Colonnade Hotel (125 Huntington Avenue). To tour the units before the auction, you can visit the building’s auction information center, located onsite at 255 Northampton Street from Noon to 7PM daily. The units being auctioned are referenced below:

Note that minimum bids have been set for units. Bidders should arrive for check-in at Noon on auction date. The Auction will begin promptly at 1:00 PM and will last approximately 1.5 hours. For Buyer Agency representation throughout the purchase, contact us.

Registration is required to attend the auction and to become eligible to bid. Complete and return the Auction Registration Form prior to auction day – Contact 617.236.0350 for details.

If you are planning to purchase more than one residence, your completed Auction Registration Form must be received no later than May 12, 2008. Registrants will be notified of the number of homes they have been approved to purchase.

On auction day, all approved registered bidders must present a separate Cashier’s Check, Traveler’s Check, Certified Check or Money Order (“Cash Equivalent”) in the amount of $5,000 for each residence that they have been approved to purchase. Each bidder is also required to bring a blank personal check. The blank check will then be added to the $5,000 to equal 5% of the winning bid price. Cash Equivalent(s) should be made payable to yourself.

Those who register on auction day will be required to complete the Auction Registration Form and present a $5,000 Cash Equivalent as well as a blank personal check. Auction day registrants will be limited to the purchase of one residence only.