TheRifleman
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Re: The Boston Arch (Aquarium parking garage)
Agree with the same logic with Fallon. Possibly a Jet Blue would have a better feel for Fan Pier area than Chiofaro's Aquarium Project.
The reality to both projects right now is Fallon is stuck 115Million and the costs to the 1st building of the Fan Pier. Fan Pier has no foot traffic at all.
I think Chiofaro's development IMHO will attract a law firm or sometype of investment banking firm if built. Remember the Aquarium area has more foot traffic than Faniuel Hall with endless possibilities of the Greenway transforming into something of beauty. But this reality is still a far off.
Toby, I think somebody said it on this board Chiofaro will build when he finds a major tenant. I agree buying buildings these days are cheaper for most investors but location is key for real estate. It seems the developer is building momentum with the press which is giving him free advertisment to attract a major tenant if the plan gets approved.
Applying the same logic you do to Fallon, Chiofaro is finished if he can't find a tenant for a building that he has yet to build.
Chiofaro's problem is that the number of corporate HQ of big Boston-based companies who are looking for trophy space now or in the future is ZERO. There is a certain developer, as friendly with the mayor as Don is not, who concedes he can't find anyone willing to lease in the trophy space building -- much smaller than the Harbor Garage project
Agree with the same logic with Fallon. Possibly a Jet Blue would have a better feel for Fan Pier area than Chiofaro's Aquarium Project.
The reality to both projects right now is Fallon is stuck 115Million and the costs to the 1st building of the Fan Pier. Fan Pier has no foot traffic at all.
I think Chiofaro's development IMHO will attract a law firm or sometype of investment banking firm if built. Remember the Aquarium area has more foot traffic than Faniuel Hall with endless possibilities of the Greenway transforming into something of beauty. But this reality is still a far off.
As amusing as this controversy is, I can't get too worked up. It's cheaper to buy buildings than it is to build them. How will any developer get financing to build something at 650 feet, never mind 500 , 400, 250, pick any number you like.
Toby, I think somebody said it on this board Chiofaro will build when he finds a major tenant. I agree buying buildings these days are cheaper for most investors but location is key for real estate. It seems the developer is building momentum with the press which is giving him free advertisment to attract a major tenant if the plan gets approved.