[ARCHIVED] Harbor Garage Redevelopment | 70 East India Row | Waterfront | Downtown

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Re: The Boston Arch (Aquarium parking garage)

Beton Brut said:
Pederson's original proposal was much cooler than these generic-looking geodes. They already look dated.
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+1

Like DZH22, I remember seeing these mock-ups a year ago or so. Are they part of an actual, renewed push now, or are we just digging up some old conceptual renders?

The blog post didn't convince me that it's the former, and I have a feeling it's just a "it's that time of the year; better remind them I'm still around" salvo from Chiofaro warning the city again that if they want him to build shorter, he'll build stumpier and crappier.
 
Re: The Boston Arch (Aquarium parking garage)

IIRC, those massing polygons were after the 'arch', and part of the big public square (the concept that took Fidelity Park and fooled around with the Aquarium entrance (but without touching base with the Aquarium before announcing it)). The zig-zag path to the sea has been there before.

I believe Chiofaro's big balloon payment for his garage purchase is due next year.

From July 2008 BBJ,
The Chiofaro Co. and Prudential Real Estate Investors secured an $85 million loan for the Boston Harbor Garage.

The five- year loan was arranged by Holliday Fenoglio Fowler LP through the Hartford Investment Management Co. The Chiofaro Co. and Prudential Real Estate purchased the garage for about $155 million in December of 2007 and plan to redevelop the property.
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If Don can't refinance, ............... methinks it is getting to be sphincter pucker time. How many hundreds of thousands of sq ft are currently vacant at IP?

Also, I see the condo owners in the Towers and Rowes Wharf have just created a new group for what they call the Wharf District.
 
Re: The Boston Arch (Aquarium parking garage)

Is it the city of Boston or the FAA who sets the height restrictions? I can understand if it is the FAA but if its the city of Boston then they are just being donkeys.
 
Re: The Boston Arch (Aquarium parking garage)

Arch21 said:
Is it the city of Boston or the FAA who sets the height restrictions? I can understand if it is the FAA but if its the city of Boston then they are just being donkeys.
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The FAA set absolute height restrictions because of the radar beam. Beneath that height, any restrictions are the city's.
 
Re: The Boston Arch (Aquarium parking garage)

Didn't the FAA clear this spot for 800? ^



Whether these are new or a year old, I do not recall. But I do know one thing: this has devolved from something unique and eye catching and new, to something that will probably be a boring and bland typical-Boston building crapping up the skyline on the waterfront. This city sucks. When does Menino keel over and die? (I assume he's never going to leave at his own will, nor be booted by the voters)
 
Re: The Boston Arch (Aquarium parking garage)

BostonUrbEx said:
Didn't the FAA clear this spot for 800? ^
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No.

IIRC, Chiofaro's original arch proposal was deemed by the FAA to be too high -- it seems Chiofaro knew it was too high (or didn't even bother first checking with the FAA) but went and proposed it anyway, and subsequently, after the FAA told him what was acceptable, reduced the height.

The BBJ reported on January 6, 2012 that One International Place has a 61 percent vacancy rate.

Which would explain why Don is recycling old massing blocks. And which should give pause to anyone who thinks that he is serious or real with his latest attempt to be relevant, as others build.

The odds are becoming far greater of Don losing ownership of the garage than of him ever building anything on it.
 
Re: The Boston Arch (Aquarium parking garage)

BostonUrbEx said:
Didn't the FAA clear this spot for 800? ^


)
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I'm pretty sure the FAA clear this spot for 600+.

Especially when you have IP across the Street and (2) 400ft towers right next to the garage. It's Common sense at that point.

The city (BRA) capped the development at 200ft.
 
Re: The Boston Arch (Aquarium parking garage)

stellarfun said:
No.

IIRC, Chiofaro's original arch proposal was deemed by the FAA to be too high -- it seems Chiofaro knew it was too high (or didn't even bother first checking with the FAA) but went and proposed it anyway, and subsequently, after the FAA told him what was acceptable, reduced the height.

The BBJ reported on January 6, 2012 that One International Place has a 61 percent vacancy rate.

Which would explain why Don is recycling old massing blocks. And which should give pause to anyone who thinks that he is serious or real with his latest attempt to be relevant, as others build.

The odds are becoming far greater of Don losing ownership of the garage than of him ever building anything on it.
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What about 2 International Place and the shorter portions of the complex? If the vacancy rate is low in those components, then Don will be fine.
 
Re: The Boston Arch (Aquarium parking garage)

Stel -- did any one find another source for this '' The BBJ reported on January 6, 2012 that One International Place has a 61 percent vacancy rate."

That seems very very high for Top of the A list office space

Grubb Ellis lists 3.5 M sq. ft vacant in towers in the financial district -- where's are real estate expert
 
Re: The Boston Arch (Aquarium parking garage)

whighlander said:
Stel -- did any one find another source for this '' The BBJ reported on January 6, 2012 that One International Place has a 61 percent vacancy rate."

That seems very very high for Top of the A list office space

Grubb Ellis lists 3.5 M sq. ft vacant in towers in the financial district -- where's are real estate expert
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Caption of the picture of IP on this page:

http://www.bizjournals.com/boston/print-edition/2012/01/06/tower-travails-boston-market-lacks.html

Most of the vacant space is from two years ago when Ropes and Gray hoofed it over to the Pru. Ropes and Gray said it needed 700,000 sq ft, (about 200,000 was for expansion) and Chiofaro couldn't give them that in the form of contiguous space.

As for IP, Prudential REI is the majority owner. I don't know what the percentage is. I kinda think Prudential's exposure on the garage might be Don's equity stake in IP, thus the balloon note for about 55 percent of the purchase price. If the Hartford CT lender takes possession assuming Don can't refinance, Prudential might look to Don's remaining stake in IP to cover their exposure.
 
Re: The Boston Arch (Aquarium parking garage)

Mike02125 said:
Hey - I haven't posted on here in awhile - felt it was interfering with privileged knowledge and client work... but... to correct the record here:

IP is 1.8M SF total. It's about 4-5 buildings - different shapes, merged floor plans, etc. So to say "60% of Tower 1 is vacant" isn't true, and doesn't mean anything. You can see at night the dark band at the top of IP... it's about 30% of just the IP1 hi-rise space that's vacant. You can also see a number of floors with construction lights, prepping for the new clients that are moving in this year. So, the complex is about a 15-20% vacant - comparable to the rest of the Financial District.

I don't write this because I work for them - I absolutely do not, nor have I ever worked for them. I just think they're a cool group of people! And in a city of Menino Stumps, we could use some whimsy - terra cotta sky-arch? Palladian windows? Why not?! I'm so sick at looking at crap like One Lincoln and Fan Pier.
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The top of 1 IP is not vacant. I know for a fact that Connell Limited Partnership is located on the 31st floor and I have seen people from that company going up to the top floor (32nd). My guess is that floor may be used for parties and events.
 
Re: The Boston Arch (Aquarium parking garage)

I know! That article is weird. IP1 is 46 floors. I'm not sure but judging from my night view of the vacant floors there are about 7-8 vacant that look to be floors 38-44 with a couple under heavy construction lights prepping for new tenants. Where did they get "60% vacant?"
 
Re: The Boston Arch (Aquarium parking garage)

Mike02125 said:
I know! That article is weird. IP1 is 46 floors. I'm not sure but judging from my night view of the vacant floors there are about 7-8 vacant that look to be floors 38-44 with a couple under heavy construction lights prepping for new tenants. Where did they get "60% vacant?"
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When Ropes and Gray left for the Prudential Center, they vacated 450,000 sq ft, IIRC. They took more than 475,000 sq ft at the Pru, and IIRC, Chiofaro said they sought space to expand to 700,000 sq ft, and he didnt have contiguous space for them. That was his explanation.
 
Re: The Boston Arch (Aquarium parking garage)

Mike02125 said:
Hey - I haven't posted on here in awhile - felt it was interfering with privileged knowledge and client work... but... to correct the record here:

IP is 1.8M SF total. It's about 4-5 buildings - different shapes, merged floor plans, etc. So to say "60% of Tower 1 is vacant" isn't true, and doesn't mean anything. You can see at night the dark band at the top of IP... it's about 30% of just the IP1 hi-rise space that's vacant. You can also see a number of floors with construction lights, prepping for the new clients that are moving in this year. So, the complex is about a 15-20% vacant - comparable to the rest of the Financial District.

I don't write this because I work for them - I absolutely do not, nor have I ever worked for them. I just think they're a cool group of people! And in a city of Menino Stumps, we could use some whimsy - terra cotta sky-arch? Palladian windows? Why not?! I'm so sick at looking at crap like One Lincoln and Fan Pier.
Click to expand...

It would be hard to imagine IP1 would be 60% vacant...however the loss of 450k square feet to Ropes and Gray--which stellarfun mentioned--does make it a bit more believable. According to these stats (http://www.grubb-ellis.com/Forecast2012/PDFs/Boston_OFF_2011_4Q.pdf), the Ropes & Gray move would account for nearly 13% of all vacant high-rise space in the Financial District at the moment. That's a pretty significant number. IP in all is 1.8m square feet, so that's 25% of the entire complex. If Tower 1 is indeed 60% vacant (by all accounts on here, it sounds like it isn't), it appears it's primarily due to this large tenant move, and not due to lack of desirability...regardless, hopefully they'll be able to find tenants soon.
 
Re: The Boston Arch (Aquarium parking garage)

Mike02125 said:
I know! That article is weird. IP1 is 46 floors. I'm not sure but judging from my night view of the vacant floors there are about 7-8 vacant that look to be floors 38-44 with a couple under heavy construction lights prepping for new tenants. Where did they get "60% vacant?"
Click to expand...

You know what? That confuses me. 1IP is 46 stories but I don't remember seeing any of the elevators going up past 32nd. Maybe they are located somewhere else.
 
Re: The Boston Arch (Aquarium parking garage)

Change at 32 onto the 33-46 elevators?
Limits shafts space requirements in the core.
 
Re: The Boston Arch (Aquarium parking garage)

2zznqs1.png


From the tenant brochure PDF.

There is a bank of 5 that serves 33-44. A separate bank of 2 serves 44-46, with 44 acting as a skylobby. As you can see here in the plan, the only bank of 5 is the bottom left, right above the "I" in International Place:

2pob0hd.png


Also of interest is that Two International Place has core space for two additional elevators, should the tower ever be finished to its designed height:

sxn0ih.png
 
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