With REI leaving, the old theater gutted, and the (reportedly) poor lease-rates in the new construction it seems this whole development is going to be a ghost town. Hopefully the traffic from Star Market moving in will turn things around...
I still don't understand how seemingly nobody at all of these companies, investing at minimum hundreds of millions of dollars per project, ever took a look at all of the Lab Space being proposed and said, "Perhaps this current market is a bit oversaturated?"
Obviously the outcome of the 2024...
Does anyone have any idea why Samuels would buy the property only to turn around and sell it barely two months later? Is there some fiscal acrobatics that make this financially advantageous for them, or did they have aspirations for the land that somehow fell apart quickly?
Not going to be a surprise to anyone but it seems that this project is officially dead.
The parking lot's permit was up for renewal at a BPDA meeting and someone asked about this project. The response being:
I know that Boston Children's is planning on proceeding with a scaled-down project on...
I have a brilliant idea: Instead of 90% of new Boston construction being lab space how about we have 90% of new Boston construction be AI data centers?
https://www.msn.com/en-us/sports/mlb/red-sox-boss-on-triston-casas-we-ll-see-how-things-play-out/ar-AA1NYa9C
I recall in the Q&A after a presentation this summer that they mentioned that they wouldn't be starting the 55 Lansdowne portion any earlier than Late 2026. Perhaps that offers enough...
Has there been any information on who bought the property at the auction? I was able to see on Banker & Tradesman that it sold for $28 million but not a name for the buyer.
Regardless, if someone was willing to put the money down then hopefully we will see the ball get rolling again on something.
If this project really is that hopeless, then a permitting submission would be a bad thing, right? It might kill or delay any motivation for the city to back out.
Came across this interview that Peebles gave in July.
https://www.mansionglobal.com/articles/when-it-comes-to-turning-offices-into-housing-the-older-and-smaller-is-better-developer-says-18a3bed2
The relevant quote for this being:
I am not holding my breath for either of those time estimates...
From law.com:
And it seems that this is a copy of the official filing: https://assets.alm.com/ef/78/12546565482b9c7c7dcb0bea4e16/j-f-white-contracting-corp-v-iqhq-fenway-center-tenant-llc-et-al.pdf
I was hoping that things might pick up once the sibling-project at 109 Brookline was wrapped...