what in the literal fuck are you talking about, there are a ton of experienced developers in Boston other than MP & Samuels. Project financing takes a long time in this environment - people are skittish about getting over their skis on capital projects they can't stop (i.e. huge developments), debt markets would rather take a flyer on a repositioning than ground up at this point.2021.
Approved June 15th 2017.
By 2021, USA may be in a better position with respect the now, decades long trade war with China,
or it may not. Unfortunately by that time, we will very likely be in recession.
Seriously, what the hell is going on with this project? Four years from approval to Construction?
And you might as well tack on another year, to reduce the likelihood of disappointment.
It's 17 stories for Christ sake's. This is bordering on absurd.
In the Theater District areas, Back Bay, etc, after winning approval,
developers should kindly sell these projects to Millennium Partners,
or to..... Millennium Partners, and they'll have a much better chance of actually going u/c.
Midwood should have sold their property to the PRO's (that would be Millennium Partners),
and maybe that site would would have a prayer of getting built *(too).
Stick around a while: Boston development will makes cynics of you all.
**i'm grateful as fuck we have 2 developers in town with at least a semblance of a clue: (MP & Samuels)
***You learn to count your blessings in this loony bin of a town.
Not only \dig markings but now earth movers digging. It's a bit strange because the parking lot is packed and the digging is on the old Jake lot and along the Revers garage,There are fresh dig safe markings all along the site perimeter
Yea the motor mart garage tower too in the pipeline should fill in nicely too. Slowly but surely.Both this building and the one approved for Tremont St. will be great additions. Slowly but surely, the weird zone around around Bay Village is being brought up to respectable density. It seems crazy how long it took though, I remember 20 years ago walking past this sight on a daily basis and even then wondering why the heck a parking lot with 10 spaces was just sitting there. In the thread regarding the Tremont st. build, I said I thought we could use about 6 more of these type buildings in the area. This has got to count as one of them. Can I advocate for another in the parking lot on Arlington St.? That spot is huge, and the tower portion of a building could theoretically be well set back from the street, essentially in the middle of the block.
In some other world I can imagine the motor mart being redeveloped into something worthy of the site that it has been given. I'm sort of a dreamer, but the notion that "park square" might have a "living building" or a "positive energy building" is somehow very attractive me. The renders that I have seen up to this point are positively atrocious,Yea the motor mart garage tower too in the pipeline should fill in nicely too. Slowly but surely.
Its not 126 x $7,000. The studios are being priced at $3,000 a month.7,000 a month for a 2 bedroom? Wow, that is absurdly expensive. With 126 units (126 x 7,000) it comes to $882,000 per month in revenue for the developer. Plus.. whatever kind of commercial or retail space gets leased on the bottom floor. I really hope not all-new Boston developments come to $7,000 per month that are new to the market... that seems a bit high for the going market rate.
If I recall correctly, St. Regis and the Alcott will not even be charing that... whao
Both this building and the one approved for Tremont St. will be great additions. Slowly but surely, the weird zone around around Bay Village is being brought up to respectable density.
in/near the Midtown Cultural DistrictYea the motor mart garage tower too in the pipeline should fill in nicely too. Slowly but surely.