Columbus Center: RIP | Back Bay

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Re: Columbus Center

Do people in most neighborhoods really have an opinion about it one way or the other? It's hard to see why Jill Random in Roslindale or Lower Mills would care.
 
Re: Columbus Center

You repeat your ?widespread support? m
........
■ Current owner CalPERS-CUIP-MURC is prohibited from investing any more funds.
....

Ned, do you have a credible citation/source that supports that assertion?
 
Re: Columbus Center

That?s untrue; Boston has many more than ?just a few? large projects. But, let?s cut to the chase. The mixed use (hotel-condo-parking-retail) air rights project that is most similar to Columbus Center is Copley Place, just one block away. The city and state approved it in 1980; and it opened in 1984.

Were there people complaining about it and new regulations that applies then as it applies now? I don't believe so. Plus you still fail to prove that large project often are completed within 10 months of when it was propose to be finished so no, that is not untrue. You missed my whole point.

Another point I want to add. About the greediness. That is untrue. I doubt that CalPERs is greedy. Why? When developers are force to give up many things such as space for a parkland or a reduce height which can lower profit, it is not surprising that the project requires subsidies to build the structure. It's basic economics. For example, if a factory was forced to restrict their pollution production which can lower production to the point where the factory generate an income lower than the cost, then the factory would either shut down or require subsidies to run.

I don't care whether CC developers lied or not, people should have seen it coming. Rising construction cost, delayed construction, lost of residential space to parkland, etc. will play a role in whether this project can be built subsidy free or not. And Ned, the whole possibility of making huge profit is negligible in this argument. The housing market is slumping. The risk is extremely high and it is not surprising that CC will fail to acquire full occupancy or will lower the cost of each housing unit. Thus in fact, they will most likely not make the amount of money that you believe they would make. I believe that all developers wants to make risk-averted choices meaning, risk exceeds potential profit when chances of maximizing profit is low.
 
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Re: Columbus Center

- One tower, on so-called Parcel 16, would be 38 stories high.
Does this mean a revised CC is in the works, or did the reporter get thier facts wrong? CC is proposed at 35 stories.

- The other tower, on Parcel 17, would be 33 stories of market-rate housing, with 330 units in all. The Boston architects, CBT, have been told to find a way to include an affordable housing component.
Again, revised? What is this new tower?

Thanks Ron. So is the Millennium Project at Massachusetts Avenue the same thing as the Boylston Square Tower?
 
Re: Columbus Center

^^^^^^^^^^^^^^^
The article you're getting this info from was written in 1999. I did a double take at first myself.
 
Re: Columbus Center

. . . I would love to know if, in any of those 125 posts, Ned has admitted he made any error of any kind in his analysis of the Columbus Center project.

Please recognize that my postings at this forum are all driven by completed research of the hearing minutes, approved proposals, government meetings, audiotapes, leases, public subsidy applications, private business contracts, and loan documents from the proposed project.

I reported what I found.

No other forum member ? even those from the 52 firms affiliated with the development team ? has done such comprehensive research of the project?s 13-year history. Many forum members are surprised to learn that all this information even exists, and do not know how to get it themselves.

The forum members most unreceptive to ? and most discouraged by ? what I reported are often just BEEARN (Build Everything, Everywhere, All-the-time, Right-away, No-matter-what) cheer-leaders who refuse to identify themselves and their affiliations.

I?m willing to admit to an error, and to correct it, whenever someone can prove there is an error in the first place. But that hasn?t happened, because forum members already said they are unwilling to perform such research themselves. I still invite everyone to review all of the same materials, and then explain if they reach any different conclusions.

. . . every post begins with "Untrue".

Untrue! (Sorry; I couldn?t resist.) Most of my messages don?t start with that word. I use that word only when replying to a specific statement that was already proven incorrect by the completed research.

Most of those replies are made to members whose messages include phrases such as ?I imagine?, ?I heard?, ?I believe?, ?someone told me?, ?probably?, ?usually?, ?it seems?, etcetera, which suggests that either (a) they know their statements are not true and need to be qualified with ?as-far-as-I-know? excuses, or else (b) they know they are speaking only out of belief based on other projects (as opposed to facts based on this one), and having never actually researched their own beliefs, know that they have no proof for their assumptions.
 
Re: Columbus Center

Ned, do you have a credible citation/source that supports that assertion [that current owner CalPERS-CUIP-MURC is prohibited from investing any more funds]?
Yes, I do.

Firstly, the Columbus Center Lease Amendment Summary Sheet (MTA, 29 February 2008), ?Part D - Assurances of Completion of the Decks, Section 1 - Completion Guaranty?, states: ?CalPERS funds 97% of all obligations of CUIP, and therefore would be the primary source of funds for the Completion Guaranty.?

This confirms the monolothic organizational structure that I outlined ? but which some forum members found hard to believe ? whereby CUIP is, in effect, a wholly owned, off-the-state-books subsidiary of CalPERS. CalPERS pays MURC a fee to manage CUIP.

Secondly, in the Columbus Center Lease Amendment itself (MTA, 29 February 2008), ?Section 5 - Assurances of Completion, sub-section (b)? states:

?CUIP Hereby makes the following warranties and representations to Landlord. . . (iv) CalPERS has waived with respect to the Deck those restrictions in the CUIP Agreement which limit investment to $100 million in any single project and prohibit the Company from investing in any project with a value in excess of $300 million;?​

Thus, Lease Amendment Section 5.b(iv) acknowledges that CalPERS-CUIP is normally prohibited from:
? risking over $100 million (its Columbus Center risk now totals $285 million);
and
? investing in projects costing over $300 million (Columbus Center now costs $800 million).

These two prohibitions, although waived once, certainly won?t be waived any further, especially after CalPERS? 2007-2008 real estate losses, and its 2008 top management shake-up.

CalPERS-CUIP-MURC bought Columbus Center on 15 March 2006, but never overcame its reluctance to pursue it, or to even admit to owning it. Even after two years, CalPERS-CUIP-MURC still doesn?t name Columbus Center among the many other projects on its Web site (www.MacFarlanePartners.com/Investments/UrbanProperties/tabid/68/Default.aspx), or in its press releases (www.MacFarlanePartners.com/IntheNews/tabid/59/Default.aspx).
 
Re: Columbus Center

I?m willing to admit to an error, and to correct it, whenever someone can prove there is an error in the first place. But that hasn?t happened...

1) Ned error: "Ellis Corporation predates 1982."

2) Ned error: "Ellis Corporation not dissolved by Secretary of State."

3) Ned error: "Ellis Corporation held annual meeting in 2004 (i.e. ignore its own filings to the contrary.)

Ned criticizes all of you for not being as "diligent". As I have observed previously, why should one trust Ned to review documents in their thousands when he misstates the easily checked public record (1 through 3 above) and is obviously deeply biased? Just because O.J. says he is "looking for the killer", do we believe him either?

4) Ned error: His "Neddymander" map accurately reflects the historic development and reality of the neighborhoods involved.

5) Ned error: Anyone who disagrees with him must be either a mindless cheerleader or represents "one of the 52 firms associated with the development team". Care to identify which board members to whom you refer, the "facts" on which you base your conclusion, and the category to which you assign them?

6) Ned error: Anyone who disagrees with him is an "astroturfer." There are only two astroturfers on this site: Ned and Ted. Check their posting records.

7) Ned error: Anyone who won't give his/her name, rank and serial number is deceitful. Sorry, Ned, you just don't get it. We get to tell it like it is precisely because big brother isn't looking over our shoulders, and we don't risk getting fired by clients who might disagree, or denied permits and approvals by anyone at City Hall who might stumble on to this site. Politics is a vengeful business.

8) Ned error: Anyone on the CAC who disagreed with Ned was corruptly influenced by the developers. No doubt Ned will whine that he never used the word "corrupt", but his implication is clear enough. Ned, care to give us one of your trademark bullet point, numbered answers, identifying each person you accuse, dates of payoffs, amounts paid, and any other "facts" you have in your possession? Of course you won't, will you? You would be sued for defamation and lose everything you own.

9) Ned error: Ned is smarter than all of you.


Many of us would like a better project at the site, one that is more profitable for the state, without subsidy, and one that addresses the exhaust plumes. Ned doesn't want ANYTHING except the status quo.

To sum up, Ned doesn't admit error because his mind is so clouded with bias that he cannot tell right from wrong, at least so far as this project goes. Other than that, I am sure that he is a delightful chap.
 
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Re: Columbus Center

Yes, I do.

These two prohibitions, although waived once, certainly won?t be waived any further, especially after CalPERS? 2007-2008 real estate losses, and its 2008 top management shake-up.

CalPERS-CUIP-MURC bought Columbus Center on 15 March 2006, but never overcame its reluctance to pursue it, or to even admit to owning it. Even after two years, CalPERS-CUIP-MURC still doesn?t name Columbus Center among the many other projects on its Web site (www.MacFarlanePartners.com/Investments/UrbanProperties/tabid/68/Default.aspx), or in its press releases (www.MacFarlanePartners.com/IntheNews/tabid/59/Default.aspx).

Ned, nothing you wrote supports an assertion that CalPERS is prohibited. Taking your assertions supra at face value, limits that CalPERS may establish as a matter of general policy are waived on an exception basis.

Nothing precludes CalPERS, as a matter of law, regulation, or even policy from increasing its level of financial investment in Columbus Center. After all, by your assertion, they are the owners, so they are already in for $800 million; why stop there?
 
Re: Columbus Center

Were there people complaining about it [Copley Place] and new regulations that applies then as it applies now? I don't believe so. . .

Yes, there were controversial public issues on the Copley Place air rights proposal. And yes, elected officials introduced measures to postpone and change the proposal. And yes, there was a federal lawsuit. But even with the extra time needed to resolve all of that, Copley was quickly built, and opened only four years after its approval.

. . . I doubt that CalPERs is greedy.
CalPERS, like all institutional real estate investors, has a single mission: earn maximum profit, and in minimum time, and at minimum risk.

?CalPERS and real estate executives are quick to spell out that the fund?s California Urban Real Estate program is no feel-good, social investment initiative like the city redevelopment projects of years past. Foremost, they say, the fund is out to make money for the 1.4 million state and local government workers and retirees.? (?Urban projects pay off for CalPERS?, Sacramento Bee, 4 September 2005.)​

Opinions differ as to whether the CalPERS policy is justifiable capitalism, unjustifiable greed, or something in between. But I never called it greed. I merely confirmed the organizational policy that is now driving the new owners? decisions at Columbus Center.

. . . When developers are force to give up many things such as space for a parkland or a reduce height which can lower profit. . .

The Turnpike Master Plan was a fact long before any Columbus Center proposals were published, so the developers were never forced to propose, and they were never ?forced to give up? anything. They chose, voluntarily, to publish proposals in which they claimed to fully comply with the pre-existing Master Plan, including its requirements for public open space, and its limits on height.

They gave up nothing, and their proposals promised that they wouldn?t need to give up anything.

. . . it is not surprising that the project requires subsidies to build the structure.

Yes, it is. Here?s why. In 2003, the developers, and a Certified Public Accountant hired by the City, both confirmed in writing that the entire project was 100% privately funded, and totally subsidy-free. Then in 2006, the developers admitted that they?d planned to have the public pay their costs and profits ?from the get-go? (in 1996) as confirmed by spokesman Alan Eisner in (?Columbus Center wins tax credits worth millions?, Boston Globe, 30 June 2006).

So, yes, it is surprising that developers who propose their project as subsidy-free later admit that they actually planned for 13 years to use as many subsidies as possible.

. . . For example, if a factory was forced to restrict their pollution production which can lower production to the point where the factory generate an income lower than the cost, then the factory would either shut down or require subsidies to run.

New regulations for an existing factory are completely different from existing regulations (Turnpike Master Plan) for a future proposal (Columbus Center). Your analogy would be valid only if completed projects were required to comply with new master plans that get written after the projects get built.

. . . I don't care whether CC developers lied or not. . .

Lying in fraudulent subsidy applications is theft from government and its citizens.

Perhaps you don?t care because your own team does the same thing?
Or perhaps because you hope to join such a team?
And where do you draw your line between the crimes that you do and don?t care about?
Why do you not care about white collar crimes that you ? and everyone else ? must pay for?
How many millions must someone steal before you do care about it?

. . . Rising construction cost, delayed construction, lost of residential space to parkland, etc. will play a role in whether this project can be built subsidy free or not.

That?s untrue ? not because I say so, but because the developers themselves said so. On multiple occasions, they confirmed that ?construction costs move with the economy? (?Costs drag down high-rise plans?, Boston Herald, 10 September 2004). CC?s chief executive explained that because cost changes are accompanied by similar changes in revenue and profit, that principle would keep their approved proposal viable throughout all economic cycles.

. . . the whole possibility of making huge profit is negligible in this argument . . .

The potential huge profit is central to every one of the developers? commercial and government loan applications, which were signed under penalties and pains of perjury. If you now realize that the loan applications claiming high profit and the grant applications claiming low profit can?t both be true, then we agree.

. . . they will most likely not make the amount of money that you believe they would make.
I never mentioned any personal ?belief? that the project profit is low, medium, or high. Instead, my profit-related messages are only about the contradictory figures the developers themselves gave for cost, revenue, and profit. Either they have high profit (and need no subsidy) or else they have low profit (and can?t get a bank loan), but both situations can?t simultaneously be true. At least one of them is a lie. And ? since no two of their subsidy applications tell the same story ? most of them appear dishonest.
 
Re: Columbus Center

Ned errors: "Ellis Corporation predates 1982." . . . "Ellis Corporation not dissolved by Secretary of State." . . . "Ellis Corporation held annual meeting in 2004." . . .

I never made any of the above statements. I wrote about the Ellis South End Neighborhood Association only as an organization, not as a corporation. The organization formed before 1982, the organization was never dissolved by itself or anyone else, the organization did hold its 2004 annual meeting, and for decades the Mayor and City Hall have recognized the organization as the official ? and the only ? neighborhood organization for its area.

Anyone who disagrees with him must be either a mindless cheerleader or represents "one of the 52 firms associated with the development team". Care to identify which board members to whom you refer? . . . Anyone who won't give his/her name, rank and serial number is deceitful . . .

I never said that anyone disagreeing must be a cheerleader or a developer affiliate. And I never said that everyone who remains anonymous is deceptive.

What I said is that most forum members are anonymous, many are cheerleaders, and some are affiliated with the development team. I said that because the developer?s business plan included seeding public and community groups such as this with pro-project cheerleaders, there is no reason for them to abandon their plan, and there?s every reason for them to continue following it.

If you want to each forum member?s name, get them to identify themselves.

"We get to tell it like it is precisely because big brother isn't looking over our shoulders, and we don't risk getting fired by clients who might disagree, or denied permits and approvals by anyone at City Hall who might stumble on to this site. . . Politics is a vengeful business."

And business includes vengeful politics, too. It?s true that anonymous members can say whatever they like without risking job loss or project disapproval. But that seeming benefit also operates as a huge disservice to the forum, the public, and even the anonymous members who are afraid to identify themselves (because their anonymity discounts their opinions).

Anonymous members can be sincere people with legitimate messages, or they can be deceitful, paid posers working as lobbyists, marketers, public relations strategists, political operatives, and so on. This forum makes no distinction between the two groups.

"Anyone on the CAC who disagreed with Ned was corruptly influenced by the developers. . . . Ned, care to give us one of your trademark bullet point, numbered answers, identifying each person?"

Yes! The previous answer, which has remained available since it was posted on 1 April, is repeated below for your convenience.

Q-58. Which seats did the developer own on the Mayor?s Citizens Advisory Committee?
A-58. On 1 June 1997, Mayor Menino signed a Memorandum-of-Understanding drafted by the developers? attorneys that gave the developers ownership of most seats on the Mayor?s so-called Citizens Advisory Committee.

Then the development team began choosing and interviewing people to install into the committee seats that they owned. The developers notified MTA who they wanted, MTA notified BRA, BRA told Mayor Menino who he was allowed to appoint, and the mayor sent 7 appointment letters to:

? government affairs director Joy Conway
? real estate attorney Cynthia Keliher
? real estate broker John Neale
? labor union electrician Perry Yee
? tax attorney Christine Colley
? architect Jim Alexander
? architect David Hacin​

The 4 public members democratically nominated by their communities were:

? Back Bay Architectural Commission chair & Back Bay Association delegate Tony Gordon
? South End Ellis Neighborhood Assn. delegate John Kiger, replaced by attorney Mark Grossman, replaced by architect Peter Pogorski
? attorney & Neighborhood Assn. of the Back Bay past president Fred Mauet
? South End attorney Mark Merante​

On every major issue, members in the developer-owned seats voted exactly as the developer wished. The public never had a chance.

Ned doesn't want ANYTHING except the status quo.

That?s untrue. For 18 years, I?ve enthusiastically lobbied for full development of both of Boston?s urban interstate transportation corridors, including full tunneling of the railways and roadways below, and full development of the spaces above.

I participated in creating the Turnpike Master Plan, and I have always supported its principles and stipulations. The Columbus Center proposal fundamentally violates that Plan in 7 ways, because it . . .
● skipped the developer qualification cycle;
● has no competitive bids;
● has no financial disclosure;
● deleted the required, contiguous 2-acre park;
● privatized the public parks;
● sought 15 subsidies totaling $245 million after promising to be subsidy-free;
and
● now seeks permission to finish construction 12 - 22 years after approval.

The developers, the politicians they?ve paid, and some of the forum cheerleaders often threaten the public with this either/or decision: either build Columbus Center now, or else be stuck with nothing forever.

The only reason there?s just one proposal is that in 1996 the MTA promised the current developer that all competitors would be permanently discouraged and refused. So, that ?Columbus-Center-or-nothing? notion is false. Those aren?t the only two choices.

The best choice of all is the third choice: develop responsibly as outlined in the Turnpike Master Plan, using competitive bids, from qualified applicants, whose finances are disclosed.

Before that can happen, MTA needs to evict its existing tenants, which is growing increasingly easier because they defaulted over two years ago. This next step has been under discussion among legislators, government agencies, and taxpayers for quite some time. Stay tuned.
 
Re: Columbus Center

Lying in fraudulent subsidy applications is theft from government and its citizens.

Perhaps you don?t care because your own team does the same thing?
Or perhaps because you hope to join such a team?

Good catch Ned.

I've been tracking DarkFenX' postings for a couple of years now. They have a distinct whiff of aspirational criminality, dishonesty, and misplaced capitalist sentiment. Confess, DFX! You are one of the 52 teams working on this project, or are applying for a job with one of them and are attaching your posts to your resume! Or maybe you are vying to be number 53! Why else would you favor this project?

Toby
 
Re: Columbus Center

I never said that anyone disagreeing must be a cheerleader or a developer affiliate. /QUOTE]

Ned,

You just did that very thing to DarkFenX! You accused him of being a developer affiliate or a wannabe developer affiliate! How do you square the quote above with your treatment of him? Really, it is not only rude, but it isn't smart. You won't convince people of your wisdom by calling them crooked when they disagree with you. You do make points that I agree with from time to time, but when you pull something like this character assassination on DFX...

Toby
 
Re: Columbus Center

.



Yes! The previous answer, which has remained available since it was posted on 1 April, is repeated below for your convenience.

Q-58. Which seats did the developer own on the Mayor?s Citizens Advisory Committee?
A-58. On 1 June 1997, Mayor Menino signed a Memorandum-of-Understanding drafted by the developers? attorneys that gave the developers ownership of most seats on the Mayor?s so-called Citizens Advisory Committee.

Then the development team began choosing and interviewing people to install into the committee seats that they owned. The developers notified MTA who they wanted, MTA notified BRA, BRA told Mayor Menino who he was allowed to appoint, and the mayor sent 7 appointment letters to:

? government affairs director Joy Conway
? real estate attorney Cynthia Keliher
? real estate broker John Neale
? labor union electrician Perry Yee
? tax attorney Christine Colley
? architect Jim Alexander
? architect David Hacin​

Ned,

The April 1 post does not respond to the part of my post which you chose to omit, the part where I asked you to give the particulars of the corrupt consideration which you believe influenced the decision making.

If you truly are of the opinion that the decisions of the CAC were corruptly influenced, G.L. c. 268A, ss. 2, 3, 17, 19(a) and 23 would likely provide a basis for criminal action against the corrupt individuals. The State Ethics Commission (617-727-0060) is keen to investigate impropriety. I have worked successfully with SEC investigators and staff attorneys to root out public corruption, and I have no doubt that you could do the same. You can ask to speak to the "attorney of the day" or to an investigator. If you speak to an investigator, you will get an intake agent who will be making an initial assessment of the viability of your claim. Ask for a meeting with the intake investigator. I recommend for that meeting (only because this is the process I use) putting together a cover memo outlining the factual claims, and attaching an indexed volume (or volumes) of the pertinent documents.

If you can provide the SEC with a threshold level of evidence that corruption played a part in the process, the SEC would have the power not just to investigate, but to seek criminal sanctions, and the authority (likely in conjunction with the Inspector General and the Attorney General) to seek a declaratory judgment nullifying the award of development rights to Winn and co., overturning the grant of permits, waivers and variances, and could request an order governing the process that would have to be observed going forward.

In other words, Ned, you need not bet on the monetary crisis to do the job. You hold in your hand the power to wipe out the Winn/CalPers/Columbus Center project for all time.

Pick up the phone, and please keep us posted!

Toby

P.S. Perhaps you will join us on the Pope thread in trying to visualize what will come next?
 
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Re: Columbus Center

. . . limits that CalPERS may establish as a matter of general policy are waived on an exception basis. . .

Yes, the limits that CalPERS-CUIP imposes upon itself can be waived. But those limits exist for very good reasons. Note the current situation.

● The maximum-project-size limit and the maximum-risk-size limits were already waived once.
● The organization is suffering heavy real estate losses elsewhere.
● Its top officers are in a shake-up.
● The owners recently asked to freeze the project for 1.5 years.
● The project then lost its Massachusetts subsidies.
● It never obtained any commercial loans.
● It already can?t qualify to borrow the $515 million now needed.
● By 2009, the shortfall will grow, making the disqualificaiton gap even larger.

Under such conditions, waivers for CalPERS-CUIP to take on more risk can?t be justified.

. . . they are already in for $800 million; why stop there?

The owners are not ?in for $800 million.? As of 29 February 2008, CalPERS-CUIP said it had theoretically committed a maximum of only $285 million. But as the day neared to sign the contracts, CalPERS-CUIP-MURC got frightened, and asked to postpone everything for 1-1/2 years. By October 2009, they might be willing to risk up to $285 million. Today, they?re willing to risk nothing.

. . . Nothing precludes CalPERS, as a matter of law, regulation, or even policy from increasing its level of financial investment in Columbus Center.

Actually, two factors preclude CalPERS from risking its members? funds any further. Firstly, California?s overriding mission is to prudently manage its pensions, and anything contrary to that is precluded. Secondly, as bulleted above, no tenable case can be made for waivers that increase California?s Columbus Center risks any further.
 
Re: Columbus Center

. . . Perhaps you will join us on the Pope thread in trying to visualize what will come next?

The City and state spent 2 years, 50 public hearings, and $1 million creating the nationally acclaimed Turnpike Master Plan. That Plan, combined with the how-not-to-do-it lessons from Columbus Center, should help the next proposal succeed quickly.

The Master Plan exists, so it seems inefficient to me to speculate now about what other firms might offer in the future. But I will carefully read the new proposals for Parcels 16, 17, 18, and 19 as soon as they?re released.
 
ENOUGH

Why don't you guys get together, hash this out and then post the results. You have made this thread completely useless. You're being ignorant and selfish. ENOUGH
 
Re: Columbus Center

Observer I have to agree... this thread is like a dog chasing its own tail. Any way we could get a locked thread with only relevant NEW information moderators? Personally, I can't read this thread, its a waste of time.
 
Re: ENOUGH

Why don't you guys get together, hash this out and then post the results. You have made this thread completely useless. You're being ignorant and selfish. ENOUGH

Well, I guess I won't post here anymore! See ya!
 
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