⚫ One Marina Park @ Fan Pier | One Marina Park Drive | Seaport
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TheRifleman
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Re: Fan Pier
Fan Pier looking more like EMPTY PIER
Fan Pier looking more like EMPTY PIER
kz1000ps
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Re: Fan Pier
One Marina Park: High hopes for an Empty Building
Boston Business Journal - by Mary K. Pratt
Friday, January 23, 2009
Location may be everything in real estate, but developer Joe Fallon thinks he has good timing, too.
Fallon, president and CEO of The Fallon Co. in Boston, is behind One Marina Park Drive, an 18-story office tower being built ? completely on spec ? on South Boston?s Fan Pier.
Even in the most robust economies, developers take bigger chances by building before they have committed tenants onboard. In today?s economy, it?s almost unheard-of ? as evidenced by the dearth of similar projects in and around the city.
Fallon isn?t shaken, though.
?We?re comfortable that we?ll be positioned pretty well when we open in 13 to 16 months,? he said in a recent phone interview. ?We were always comfortable that this property would do well, and our financial partners recognized it right away as well.?
Fallon is working with Cornerstone Real Estate Advisors LLC and Massachusetts Mutual Life Insurance Co. to develop Fan Pier. Fallon bought the 21-acre waterfront site in late 2005 with plans to develop nine buildings on the property. Plans also call for upgrades to park space and the HarborWalk.
The site already holds the new Institute of Contemporary Art. Work on the adjacent marina, which will be big enough to accommodate grand yachts, is under way.
Completion of One Marina Park Drive is set for 2010 ? as has been planned since the start, Fallon said. Neither the economy nor the lack of committed tenants has ? or will? change that, he added.
Fallon went even further, saying that the timing could actually work in his favor. He pointed out that more than 80 percent of the buildings in Boston are 25 years old or older. Meanwhile, the slowdown in the economy has stalled plans for other new commercial projects, making his project one of just a handful that will open in the next year or two.
Moreover, he said, One Marina Park Drive will add prime office space into a market that even in this stressed economy still boasts low office vacancy rates.
Fallon acknowledged that no tenants have signed leases yet, but he said he has a letter of intent from a restaurant that plans to open on the ground floor next year. He say he wouldn?t disclose the name of the restaurant until after a lease has been signed.
He said other potential deals are in the works.
?The interest has always been strong because of the location,? he said, citing the tower?s views as well as the proximity to the I-93, the Silver Line and water transportation as big draws.
Link
One Marina Park: High hopes for an Empty Building
Boston Business Journal - by Mary K. Pratt
Friday, January 23, 2009
Location may be everything in real estate, but developer Joe Fallon thinks he has good timing, too.
Fallon, president and CEO of The Fallon Co. in Boston, is behind One Marina Park Drive, an 18-story office tower being built ? completely on spec ? on South Boston?s Fan Pier.
Even in the most robust economies, developers take bigger chances by building before they have committed tenants onboard. In today?s economy, it?s almost unheard-of ? as evidenced by the dearth of similar projects in and around the city.
Fallon isn?t shaken, though.
?We?re comfortable that we?ll be positioned pretty well when we open in 13 to 16 months,? he said in a recent phone interview. ?We were always comfortable that this property would do well, and our financial partners recognized it right away as well.?
Fallon is working with Cornerstone Real Estate Advisors LLC and Massachusetts Mutual Life Insurance Co. to develop Fan Pier. Fallon bought the 21-acre waterfront site in late 2005 with plans to develop nine buildings on the property. Plans also call for upgrades to park space and the HarborWalk.
The site already holds the new Institute of Contemporary Art. Work on the adjacent marina, which will be big enough to accommodate grand yachts, is under way.
Completion of One Marina Park Drive is set for 2010 ? as has been planned since the start, Fallon said. Neither the economy nor the lack of committed tenants has ? or will? change that, he added.
Fallon went even further, saying that the timing could actually work in his favor. He pointed out that more than 80 percent of the buildings in Boston are 25 years old or older. Meanwhile, the slowdown in the economy has stalled plans for other new commercial projects, making his project one of just a handful that will open in the next year or two.
Moreover, he said, One Marina Park Drive will add prime office space into a market that even in this stressed economy still boasts low office vacancy rates.
Fallon acknowledged that no tenants have signed leases yet, but he said he has a letter of intent from a restaurant that plans to open on the ground floor next year. He say he wouldn?t disclose the name of the restaurant until after a lease has been signed.
He said other potential deals are in the works.
?The interest has always been strong because of the location,? he said, citing the tower?s views as well as the proximity to the I-93, the Silver Line and water transportation as big draws.
Link
Re: Fan Pier
"One Marina Park Drive"
The name says it all.
Screams office park.
Pathetic.
The collective mass of development/developers in Fan Pier/South Boston Waterfront/Fort Point needs a do-over. I hope the economy stalls the remainder.
On a side note: was reading an article from a sportswriter who was quoting another correspondent in Tampa who was saying there was ... 'no night life' ... yet. Ever been to Tampa? Anybody? It's what the South Boston Waterfront/Seaport District will be, with sunnier/warmer weather, of course.
"One Marina Park Drive"
The name says it all.
Screams office park.
Pathetic.
The collective mass of development/developers in Fan Pier/South Boston Waterfront/Fort Point needs a do-over. I hope the economy stalls the remainder.
On a side note: was reading an article from a sportswriter who was quoting another correspondent in Tampa who was saying there was ... 'no night life' ... yet. Ever been to Tampa? Anybody? It's what the South Boston Waterfront/Seaport District will be, with sunnier/warmer weather, of course.
Ron Newman
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Patriots_1228
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Re: Fan Pier
^hopefully then they don't follow the tampa bay model of "Skyscraper, parking lot, parking lot+2 story church, warehouse+parking lot, parking lot"
^hopefully then they don't follow the tampa bay model of "Skyscraper, parking lot, parking lot+2 story church, warehouse+parking lot, parking lot"
stellarfun
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Re: Fan Pier
Tampa has an active night life for adults. There was an article in the St. Petersburg FL Times about a dancer who said she made $5000 or so dancing the week of the last Super Bowl in Tampa. And there are some who assert that the NFL chooses a city like Tampa for its 'entertainment' value. The venues for such entertainment are quite close to the stadium too.
Tampa has an active night life for adults. There was an article in the St. Petersburg FL Times about a dancer who said she made $5000 or so dancing the week of the last Super Bowl in Tampa. And there are some who assert that the NFL chooses a city like Tampa for its 'entertainment' value. The venues for such entertainment are quite close to the stadium too.
Re: Fan Pier
Boy did the NFL make a mistake in choosing Jacksonville to host a few years back. What a fantastic city that was (provided you did not have to stay 2 hours away due to lack of enough hotel rooms).
Boy did the NFL make a mistake in choosing Jacksonville to host a few years back. What a fantastic city that was (provided you did not have to stay 2 hours away due to lack of enough hotel rooms).
Ron Newman
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Re: Fan Pier
That's not the way I remember Ybor City. Are you sure we went to the same place?
That's not the way I remember Ybor City. Are you sure we went to the same place?
Patriots_1228
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Re: Fan Pier
Ron, im speaking of downtown. Go look at it in birds eye on windows live. I threw up in my mouth when i did. Makes me glad I live in a city with some density.
Ron, im speaking of downtown. Go look at it in birds eye on windows live. I threw up in my mouth when i did. Makes me glad I live in a city with some density.
kennedy
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Re: Fan Pier
I haven't been in awhile, but I remember the stadium being in the middle of nowhere, nothing but a small strip mall with a liquor store being near it.
I haven't been in awhile, but I remember the stadium being in the middle of nowhere, nothing but a small strip mall with a liquor store being near it.
Suffolk 83
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Re: Fan Pier
Kennedy your wrong, it really is just much different than northerners picture a city. Patriots is not completely wrong, but far from the truth. In many ways, Tampa is a much more entertaining city than Boston. Not better, just more entertaining. I went to college there, so I think I might know.
Kennedy your wrong, it really is just much different than northerners picture a city. Patriots is not completely wrong, but far from the truth. In many ways, Tampa is a much more entertaining city than Boston. Not better, just more entertaining. I went to college there, so I think I might know.
kennedy
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Re: Fan Pier
Splendid. Did you know that people who go to schools like U of I, in the middle of farm fields, have fun? It's college.
I was speaking not of perception, but of experience. Believe it or not, a northerner like me has been to Tampa.
Entertainment factor in a city means nothing, because entertainment is personal. People who choose Tampa for it's entertainment like beaches, Cuban sandwiches, and relaxation. People who choose Boston, likely enjoy cities, snowy weather, and history. Let alone sports, culture, food, live music, or upscale shopping.
Splendid. Did you know that people who go to schools like U of I, in the middle of farm fields, have fun? It's college.
I was speaking not of perception, but of experience. Believe it or not, a northerner like me has been to Tampa.
Entertainment factor in a city means nothing, because entertainment is personal. People who choose Tampa for it's entertainment like beaches, Cuban sandwiches, and relaxation. People who choose Boston, likely enjoy cities, snowy weather, and history. Let alone sports, culture, food, live music, or upscale shopping.
SeamusMcFly
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Re: Fan Pier
Now that there is a budding rivalry ala Sox/Yankees.... Do the members on Tampa forums say "Tampa is not Boston"?
Now that there is a budding rivalry ala Sox/Yankees.... Do the members on Tampa forums say "Tampa is not Boston"?
SeamusMcFly
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Re: Fan Pier
http://fanpiermovie.com/
Not sure if this has been posted yet, but it's actually a very impressive video. It hopefully gives us a better idea of what the finished product is supposed to look like, although the one Marina Park in the video looks better than what I'm watching outside. The building all look pretty ok (besides all being the same height), but the strangest thing is that the ugliest buildings are the ones right on the water. Who's brainchild is that?
http://fanpiermovie.com/
Not sure if this has been posted yet, but it's actually a very impressive video. It hopefully gives us a better idea of what the finished product is supposed to look like, although the one Marina Park in the video looks better than what I'm watching outside. The building all look pretty ok (besides all being the same height), but the strangest thing is that the ugliest buildings are the ones right on the water. Who's brainchild is that?
blade_bltz
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Re: Fan Pier
Since coming to this board, I've learned that many people who choose Boston don't apparently enjoy cities (unless your city looks like the Seaport)...Well, who knows what the Ned Flaherty's of the world really think anyway.
Since coming to this board, I've learned that many people who choose Boston don't apparently enjoy cities (unless your city looks like the Seaport)...Well, who knows what the Ned Flaherty's of the world really think anyway.
skintreesnail
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Re: Fan Pier
Wow, that actually looks pretty nice. Deffinitely does its job of making the development seem a lot more than an office park.
Wow, that actually looks pretty nice. Deffinitely does its job of making the development seem a lot more than an office park.
Patriots_1228
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Re: Fan Pier
I never said anything about entertainment, of course its an entertaining city lol. Im just saying that its downtown layout irks me...incredibly.
I never said anything about entertainment, of course its an entertaining city lol. Im just saying that its downtown layout irks me...incredibly.