Revere Beach Developments/infill | Revere

I've had this argument a thousand times. While the North Shore should perhaps just refer to cities and towns on the shore, people who grew up south of Boston tend to refer to anything north of Boston as north shore and vice versa. There is definitely some animosity between the two shores. Each looks down their nose at the other. ?South shore? That?s like the cape, right?? ?North shore? That?s like New Hampshire, right??
I think there should be some sort of games between the two; perhaps a week of Intellectual and physical competitions culminating in some big celebration during the summer. Boston proper, Charlestown, and East Boston residents can compete with the north shore crowd and the rest (Dorchester, South Boston, etc.) can compete w/the ?south shore.? Metro West can watch like MIT students at the Harvard Yale game.
It?s been brewing for some time now.
 
^hahaha, I love it.

I grew up on the Southcoast (something we considered to be an entirely different entity than the South Shore), but was told by friends in Amesbury that I my town (Assonet) was South Shore. If I told a friend from Norwell or Hingham that Assonet was the "South Shore" I'd most likely be laughed at heartily.
 
Haha! So true. I grew up in Hingham and most of the town can today be accurately described as uppity bitches (though when I grew up there it was largely middle class and even a small fishing industry).

A good Hingham/Christmas story that I heard recently:
A wealthy developer in town bought a house on Main St. He had young kids and for the holidays he put out some colored lights. The Main St residential association told him to take them down - only white lights were acceptable. He said no so they sued. He won . . . and kept the colored lights up for the rest of the year. That guys is one of my personal heroes.
 
Hingham sailors are all uppity bitches, too. (I say this in jest, I repped Pleon at the HYC regatta every year and the host families were always very accommodating).

I like that Hingham Christmas story AFL, I kind of want to know how he won, because they have rules like that all over the place here in the 'burbs of St. Louie.
 
Swingham? Went to see George Carlin at the South Shore Music Circus (?) a couple years ago. Before the show my wife and I stopped into a restaurant near the water in Hingham and grabbed a bite to eat at the bar. During dinner a couple of the bartenders felt it was important to inform us that Hingham is often referred to as Swingham because swinging has become so prevalent there. Fairly confident it was an invite. It was a bit awkward as my wife was definitely NOT down...but heads-up to the rest.
 
Funny, I've heard the same swinging stories about Norwell. North Shore may have us beat in wealth, class and education, but no one tops the South Shore on key parties!
 
Iam LIVING on Nord Shor for while when the hatchling days. (NOW BACK IN HUBB OF UNIVERSAL) So. THIS being my Klassy rutes with the stompin down the horse pattys at MYOPIATE Hunts Clubbe and Old Uncle pour me the PIMMS CUP when mother not looking.

Hingam home of TALBOTS. Hingams settlermans come there in a Plymouth, NOT in Mayfowler.

Iam wresling my case on this pointe.
 
Revere?s Ocean Club Heads To Auction Block

from B&T:
Revere?s Ocean Club Heads To Auction Block
Steven Fustolo's Ocean Club condominium development in Revere went from record-setting market-mover to the auction block in under two years.
The 242-unit project had promised to bring Miami to Revere Beach Boulevard. Barring a late bankruptcy protection filing, an auction set for Wednesday morning will relegate the Ocean Club to the commercial real estate scrap heap. When Paul E. Saperstein Co. auctions off the doomed development's 2.1 acres of oceanfront property, the Ocean Club will officially become another victim of the commercial downturn.
"It was the most gorgeous thing to ever happen to Revere Beach," said Lynne Breed, a broker who handled marketing for the project. "People loved the site. It was perfect in every way. It was just that the timing was not right."
Fustolo spent roughly $5 million assembling a 2.1-acre parcel towards the northern edge of Revere Beach. He envisioned a gleaming 13-story complex with pools, gardens, floor-to-ceiling windows, bamboo floors and first-rate finishes.
Fustolo kicked off the sales efforts in the summer of 2006, with a buzzed-about beach party on the roof of the Ritz-Carlton, and pre-sales activity was brisk. One penthouse unit went for $3.25 million, and another was snapped up at $1.5 million. Previously, no one had ever paid $1 million for a condo in Revere. Fustolo's sales team got commitments for 40 percent of units, many at above-market rates.
Interest from the lending community didn't match the enthusiasm from potential buyers. Fustolo was in the market for a $100 million-plus construction loan in the spring and summer of 2007 - right when credit markets began to seize, CMBS spreads blew out, and Wall Street's securitization machine showed the first signs of grinding to a halt.
Several industry sources told Banker & Tradesman they believed Fustolo did nothing wrong at Revere - he just needed a sizeable condominium construction loan at the very moment when big lenders were turning against new residential construction.
The finance window closed quickly. Other just-opened large-scale condo developments secured their construction financing months before Fustolo needed his.
The Abbey Group, developers of the 138-unit 45 Province St. tower in downtown Boston, got a $120 million mortgage from German Lender Helaba in September 2006. Related and the Beal Cos., developers of the Clarendon Back Bay, closed on a $175 million construction loan in December 2006. Sawyer Enterprises closed on a $120 million construction loan for its W Boston tower in January 2008; Sawyer needed an emergency $10.5 million bridge loan from the city of Boston to complete construction. And Vornado and Gale International broke ground on their $700 million Filene's project in February 2008, only to have financing fall apart that autumn.
Fustolo was able to obtain a $12.7 million pre-construction loan from Connecticut-based lenders The Patriot Group in March 2007. The Patriot Group later increased that amount to $13.6 million. He also managed to put a $1.1 million second mortgage on the property three days after Lehman Brothers filed for bankruptcy. But the construction loan never came. And now The Patriot Group is foreclosing on the 2.1-acre development site.
Fustolo could not be reached for comment. The development's website, liveatoceanclub.com, remains online, though the phone at the sales office has been disconnected.
 
bostonbred said:
Iam LIVING on Nord Shor for while when the hatchling days. (NOW BACK IN HUBB OF UNIVERSAL) So. THIS being my Klassy rutes with the stompin down the horse pattys at MYOPIATE Hunts Clubbe and Old Uncle pour me the PIMMS CUP when mother not looking.

Hingam home of TALBOTS. Hingams settlermans come there in a Plymouth, NOT in Mayfowler.

Iam wresling my case on this pointe.
Click to expand...
^ How did I miss this?

This is the funniest post ever on archBos!
 
They're better when I get all the references...I feel like I'm missing half of them here.
 
Re: Revere?s Ocean Club Heads To Auction Block

smw2340 said:
The 242-unit project had promised to bring Miami to Revere Beach Boulevard. Barring a late bankruptcy protection filing, an auction set for Wednesday morning will relegate the Ocean Club to the commercial real estate scrap heap.
Click to expand...

Mission accomplished.
 
I mean, the actual Myopia Hunt Club is a joke in itself.

Pimm's Cup eh? Anyone fancy a punt?
 
Java peeples NOT enjoying with Tambora Krakhoe samarai wave
 
JohnAKeith said:
Who doesn't want to live on the beach??
Click to expand...

Arent you in real estate?

Why do you keep pressing this point? Compare beachfront property (on average) with the price of homes 2 blocks away. What do you find?
 
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