Well, it's all over. There is no more building in Boston. There are no construction jobs. When that crane comes off Atlantic Wharf, Boston will be crane-less. Not one single, major project will be under construction.
What will we all chat about here?
Come the spring, all major construction in the City of Boston will have come to a halt.
When there is sufficient market demand again, there will be new towers and there will be financing for them. Until then, what's the point?
Five markets experienced vacancy rate declines or remained unchanged quarter-over-quarter. These included Dallas, the only U.S. market to experience consecutive quarterly vacancy rate declines, to 27.1 percent from 27.2 percent at the end of the first quarter; San Diego, which declined to 14.2 percent from 14.7 percent; San Francisco, which declined to 13.8 percent from 14.0 percent; Houston, which declined to 12.8 percent from 13.0 percent; and Hartford, Conn., which remained unchanged at 22.0 percent.
The top five lowest vacancy rates in the nation at the end of the second quarter were recorded in New Haven, Conn., at 10.0 percent; New York City at 10.5 percent; Portland, Ore., at 10.9 percent; Philadelphia at 11.6 percent; and Boston and Washington, D.C., each at 11.7 percent.
Ron, you're absolutely correct regarding market conditions and the impossibility of financing. A difference in this project is that the financing is coming from construction unions, and may (or may not) be in place. It's a more secure source of funding than commercial banks.
What are the chances they could keep the EPA as a tenant in the new building?
What are the chances they could keep the EPA as a tenant in the new building? Perhaps having a tenant already on board would give them more leverage with lenders. This however, would require the EPA to find a temporary home for a couple of years. It wouldn't be hard in this market, but would they be on board for two moves in less than 8 years or so?
Good afternoon:
As a follow up to the November 16th Government Center Garage Redevelopment Project IAG Working Session Meeting, I wanted to forward the link to Peter Gori?s presentation regarding the Greenway District Planning Study?s alternatives for the Government Center Garage site: http://www.bostonredevelopmentauthority.org/DevelopmentProjects/PipeDocs/Government%20Center%20Garage%20Redevelopment/SupplementalInformation/Government%20Center%20Garage%20Redevelopment_SupplementalInformation.pdf
Thank you.
Regards,
Kristin
Try to get into that building it's one of the hardest ,everyone is treated like a terrorist!Wait what's up there? Just the EPA? Who would want do to anything to them? They don't need security. Its not like I'm gonna blow the place up if they took away my pesticide license.