Why is this thread even active? Nothing is getting built at the garage until the agreements for parking spaces run out sometime in the 20s. It just isn't ecomical until then since they can't go tall and building underground parking is going to be very expensive.
All this fulminating about the NEA, as if NEA is going to kill any project on the Harbor Garage site.
IIRC, the Harbor Garage was built on BRA-owned land, designed by Pei (or his associates) in conjunction with the building of Harbor Towers. A certain number of spaces in the garage were reserved, through an easement / covenant for Harbor Towers residents. That easement ends in the early 2020s.
It may have been that the BRA set other conditions when they conveyed title, e.g., a garage with a set number of spaces is to be located on the site in perpetuity. I don't know whether that is the case, but I doubt Chiofaro would propose creating an underground garage with a similar number of spaces at an extraordinary construction cost because said underground garage would generate a great return.
The consultant to the City of Cambridge on the Volpe Center said that a developer spending $280 million for a new Volpe would be pushing at the margins of profitability and that developer has several million gsf to work with, --not the less than a million gsf that Chiofaro is being given. Chiofaro paid $155 million for the site, and indicated several years ago that it would cost $180 million to bury the garage. That's $335 million in sunk costs for 1.3 acres.
The Boston Common garage, with almost as many spaces as the HT Aquarium garage had total gross revenue of $11.1 million in the fiscal year ending 2013.
Either the city of Cambridge's consultant is all wet, or there is no financially feasible way for Chiofaro to proceed with his project with a buried replacement garage. If that's the case, as surely as the sun rises in the east, the garage will be a podium for something built on top.
All the NEA bashing, and all the HT bashing are largely irrelevant to the financial bottom line for any Chiofaro proposal.