Millennium Tower (Filene's) | 426 Washington Street | Downtown

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Re: Filene's

"I" is certainly not the proper form in the previous quote. No wonder it sounds "worse".
 
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More importantly how can tax cuts be even possible when we are doing painful budget cuts. I'm totaly for improving efficiency and all that, but proposing taxes cuts is just telling people what they want to hear for a vote.
 
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Were the vote determined on grammar alone, Charlie might be dinged for this.
 
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I've been wondering to myself lately, what if people had to be qualified to vote? Not an I.Q. test, but maybe a basic spelling test, at the very least? I'm tired of reading arguments that are just trash all over the page, and thinking to myself, "that's an American voter. No wonder our country is f*cked up."
 
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Not much here.........Just one big F*cking mess from Hynes and the BRA.

Worst Planning I have ever seen by a developer.
 
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kennedy said:
I've been wondering to myself lately, what if people had to be qualified to vote? Not an I.Q. test, but maybe a basic spelling test, at the very least? I'm tired of reading arguments that are just trash all over the page, and thinking to myself, "that's an American voter. No wonder our country is f*cked up."
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Thank the NEA, founded 1857, holding "the children" hostage since 1966.
 
Re: Filene's

TheRifleman said:
I would love to bet money that Menino's Admin bails these clowns out. The unions are almost 50% unemployed.

This Roth character will be getting some interest free loans from the stimilus package Obama pushed.
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Not to stray uh....... back on topic but the last year has been great for those of us spending money. It's amazing how much bullshit they DON'T pull when they're a little hungry.
 
Re: Filene's

Filene's Developer Hynes Leaves Gale International
By Paul McMorrow

Banker & Tradesman Staff Writer
Yesterday

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http://www.bankerandtradesman.com/news138737.html

Developer John B. Hynes III has split from Gale International, but his new firm will continue to push ahead with its two marquee Boston development projects, Seaport Square and One Franklin.

Gale International's overseas development arm, under Gale chairman Stan Gale, has split from the firm's former U.S. operations. Hynes's new firm, Boston Global Investors, retains its equity and development stakes in those domestic projects.

Hynes, who will act as BGI's CEO and managing partner, said he decided to leave Gale and form BGI because Gale International's business had been pulling him and Stan Gale in opposite directions. Before 2007, Hynes said, he was primarily focused on New Songdo City, a massive Korean mini-city. In 2007, after Gale International sold its New Jersey holdings to Mack-Cali Realty, Stan Gale took a leadership role in Korea, while Hynes focused on Filene's and Seaport Square.

"It was a natural progression of the business," Hynes told Banker & Tradesman. "Korea is now rolling. My job there was in master planning and deal formulation, upfront structuring. Korea is now primarily project management and marketing, and that's not where I need to be. I need to make a commitment to Morgan Stanley at the Seaport, and to Vornado and JP Morgan at Filene's. Those are two pretty important projects, and I want to focus on them."

BGI, Hynes said, will allow him and Gale "to align our activities and interests." Hynes still owns half of New Songdo City and will travel to Korea quarterly, but he bought out Gale's interests in Filene's and Seaport Square. Hynes also said forming the new firm has allowed him to elevate some longtime coworkers, who have been with him since the development of State Street Financial Center, to partners. Hynes will be joined by five directors at BGI: Kevin R. Benedix, Charles D. Reid, Leonard Conlin, Dave Wamester and Joseph M. Norris.

The deal to buy out Gale's interest in Filene's and Seaport Square closed late last week, Hynes said.

The split comes at a critical juncture for Hynes and Boston Global Investors. Hynes is trying to resuscitate One Franklin, the redevelopment of the former Filene's complex, while simultaneously permitting Seaport Square, a 33-acre, 6.3-million-square-foot development project along the South Boston waterfront.

Banker & Tradesman reported last week that Hynes hopes to break ground on 1 million square feet of residential construction at Seaport Square in 2011.

Gale, in partnership with Vornado Realty Trust, JP Morgan and Mack-Cali Realty, acquired the Filene's building in Downtown Crossing for $100 million in cash in January 2007, and began demolition in February 2008. Work on the planned $700 million One Franklin tower stalled that autumn. This past March, Boston Mayor Thomas Menino threatened to seize the Filene's site through eminent domain if the project's developers could not restart construction. Vornado CEO Michael Fascitelli subsequently reaffirmed his company's commitment to the One Franklin project.

"I don't have a crystal ball, and if I did, I'd be wrong anyway," Hynes said, saying three years ago he thought he would be opening One Franklin this year. He said capital markets have shifted significantly, to the point where interested capital sources are contacting him again. "In 2008 and 2009, we couldn't' even get a meeting with a lot of people. They would say, ?Real estate construction? Are you kidding me?' Now it's a different environment, and we're cautiously optimistic."

Hynes said he now hopes to restart construction at Filene's before the end of the year.
 
Re: Filene's

statler said:
I'm cautiously optimistic?
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Why doesn't Hynes find some Equity partners and dump some equity in the project and get this built?

Maybe they paid too much for the site. So start considering taking a haircut and get the site built.
 
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Re: Filene's

Chicago has a hole in their city as well! Honestly, who wants to see a unicorn's horn in their city sky-line? I'll take a giant box anyday.

800px-ChicagoSpire_05_25_08.jpg
 
Re: Filene's

I'd kill for the Seaport to get some of the infill townhouses in that shot.
 
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That area of Chicago reminded me of the Seaport, it's right near Lucky's, right? North of Millennium Park and between the Loop and the lake? Seemed kind of sterile and empty, but then again, it was November in Chicago. Who in their right mind would be outside?

Also, I'd kill for a Calatrava tower like that. It's freaking incredible. It was originally proposed by Frank Lloyd Wright, you know.
 
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Following up on the Chicago digression, I'd be willing to wait 30 years (whoops, I'll be dead by then) if the city would treat the greenway edges the way Chicago has developed the surroundings of the Chicago River.
 
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Agreed. And with vision and leadership, we could have something similar along the Fort Point Channel.
 
Re: Filene's

Beton Brut said:
Agreed. And with vision and leadership, we could have something similar along the Fort Point Channel.
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I fully agree, however therein lies the tragedy. We have no one who possesses these qualities!
 
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There's no reason why the Channel can't look like this:
2576447509_ee0fa10656_b.jpg

Osaka

Or this:
2576449887_e97f4a3de5_b.jpg

Tokyo

Fail.
 
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