🔹 What's Happening With Project X?

Question on the cancelled Copley Place tower:

Here's a tall, fully permitted luxury condo project in one of the most desirable spots in Boston, that overcame intense neighborhood opposition and is grandfathered in against the new shadow laws "protecting" Copley Square.

I would think developers from across the city/country would be banging down Simon's door to buy the development rights off of them. Just because Simon is inexperienced and risk-averse doesn't mean this project wouldn't be successful in someone else's hands. So why isn't this happening? Or is it happening and we just don't know about it?
 
datadyne007 said:
Is Hancock III even happening?
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JHI should nix the 625,000 sq ft/390' tower at 380 Stewart and move into either

Back Bay Station; 575,000 sq ft of office,
1 Congress; 1,000,000 sq ft,
SST; 641,000 sq ft of office
TD Garden; 525,000 sq ft,
or 401 Park Drive/Landmark Ctr; 506,000 sq ft
 
odurandina said:
JHI should nix the 625,000 sq ft/390' tower at 380 Stewart and move into either

Back Bay Station; 575,000 sq ft of office,
1 Congress; 1,000,000 sq ft,
SST; 641,000 sq ft of office
TD Garden; 525,000 sq ft,
or 401 Park Drive/Landmark Ctr; 506,000 sq ft
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Ordura, that's a great point. Why develop on their own in an office space market that no one can seem to put their finger on when they can partner with Boston Properties (or similar) & offload the risk / negotiate themselves a good, long-term anchor tenant-type lease? I'd actually love to see this happen.
 
^ John Hancock is an insurance and financial planning company. Evaluating risk and making long term investments is literally what they do. They aren't looking to offload risk to a REIT. If anything, REITs turn to companies like John Hancock to help them manage their risk.
 
JumboBuc said:
^ John Hancock is an insurance and financial planning company. Evaluating risk and making long term investments is literally what they do. They aren't looking to offload risk to a REIT. If anything, REITs turn to companies like John Hancock to help them manage their risk.
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Good point, but this assumes that their office space planning/facilities operations are actually coupled in with their insurance or finance businesses...it well may be. But that gives a lot of credit to a well synch'd internal operation across disparate functions. Even Boeing employees fly Airbus sometimes when that's who is situated on the route they may need.

Another perspective: great risk managers keep the nature of their risks diversified and spread out (e.g., not all eggs in one basket). I only know aerospace analogies because that's my roots, but again look at Boeing divesting yet continuing to heavily source from the fuselage fabricating arm (Spirit Aerosystems). This risk-sharing stuff does happen.
 
Anyone know why it's taking so long to demo and just get rid of the old Lady of Good Voyage in the Seaport? It always looks like it's going to happen any day now, but I think only the surrounding sidewalk area has been torn up.
 
jl326 said:
Anyone know why it's taking so long to demo and just get rid of the old Lady of Good Voyage in the Seaport? It always looks like it's going to happen any day now, but I think only the surrounding sidewalk area has been torn up.
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I was thinking the same thing. And I wonder how quickly work will begin on the building that's going there?
 
Any movement or news on these?

Seaport
Parcel K / 315 Northern Avenue
Fan Pier Parcel H / 1 Harbor Shore Drive
Seaport Square Parcel F (Remaining building)

Bulfinch Triangle
104 Canal Street

Charlestown
The Ropewalk / 5th Street
The Chain Forge / 105 First Avenue

Back Bay
The Viola / 120 Massachusetts Avenue

Financial District
55 India Street
 
goldenretrievers said:
Any movement or news on these?

Seaport
Parcel K / 315 Northern Avenue
Fan Pier Parcel H / 1 Harbor Shore Drive
Seaport Square Parcel F (Remaining building)

Bulfinch Triangle
104 Canal Street

Charlestown
The Ropewalk / 5th Street
The Chain Forge / 105 First Avenue

Back Bay
The Viola / 120 Massachusetts Avenue

Financial District
55 India Street
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Just FYI: Seaport Square F is District Hall, the Memorial Park, and the retail building w/ public roof. Seaport Square G is the "remaining building".

But no, I know of no updates for these projects. Although I think 55 India might be being used for staging for "The Boulevard" (even though 55 India's plans pre-date The Boulevard's by years).
 
JumboBuc said:
Just FYI: Seaport Square F is District Hall, the Memorial Park, and the retail building w/ public roof. Seaport Square G is the "remaining building".

But no, I know of no updates for these projects. Although I think 55 India might be being used for staging for "The Boulevard" (even though 55 India's plans pre-date The Boulevard's by years).
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Thanks, by "remaining building" I meant the retail building w/ public roof.
 
What's going on with Massport Parcrl K? Approved late 2016, scheduled to start work "march 2017". Anything happening at the site?
 
The Viola proposal we saw was for a developer selection process. The developer would still need to file with the city and go through the Article 80 process before commencing construction.

I think they were throwing 2019 around as a possible date?
 
What's going on with the Shreve building on Boylston between A&B? Does this thing have any hope or just sitting on it waiting for an office tenant?
 
The developer that owns it (Drucker?) wants to tear it down and build a tower. But he won't do it until he secure a tenant for the new tower and he hasn't found one yet. He was quoted in a recent article about a different project but I forget which one.
 
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