Columbus Center: RIP | Back Bay

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Re: Columbus Center

Just ask Ned, "Why was the construction of the deck over the MassPike for the CC project halted last year?"

Ned already told you why, if you would just READ it.
The construction was not halted....it never started.

The Turnpike never gave the developers approval to start building anything because they refused to provide the $295 million in performance bonds that their lease requires.

What you call "construction" was just moving piles of dirt from one end of the lot to the other for I-don't-know-what reason. Do you see any evidence of a partly constructed deck anywhere?
 
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Re: Columbus Center

^^That's true lol. His denial is quite amazing. Maybe the better question is "Why was the dirt moving halted last year?"
 
Re: Columbus Center

The better question is why did it start in the first place?
 
Re: Columbus Center

. . . Had finance been secured since the beginning, CC would have gone up with nobody preventing it from doing so . . .
No, it would not._ Even if the owners have $850 million cash in hand, nothing can be built without the 27 missing approvals.

. . . the loans . . . may not have been approved but that is not part of a building approval process.

Yes, it is._ Had you participated in the public process, you would already know that financing was the most important, contentious, and unresolved issue in the entire public review-and-approval process._ Re-read the public records, for example:

? On 18 March 2003, the Commonwealth ?required the proponent to include information regarding project economics?.

? The Commonwealth required disclosure of the underlying assumptions about financial viability, and required the developer to ?examine the financial reasoning behind the selection? of each chosen proposal.

? The Commonwealth required the developers to ?provide information regarding project economics ? cost components (including the premium costs of long-span structural decking over the Turnpike and rail tracks) that assist in informing which alternative is truly feasible.?

? The City required the developers, as part of the public review process, to pay for a real estate certified public accountant to advise the City and the public on financial viability (the same viability that California hired Beal & Related to re-perform 6 years later).

? All these financial analyses proposed the venture as subsidy-free, but once the mayor got fooled into approving it, the owners sought 19 public subsidies worth $605 million._ The owner funds, public funds, and loan funds all depended upon each other, and the MTA approvals all depended upon 100% of those funds.

So, yes, the end-to-end approval process does include financing._ Financing may arrive after design, but whenever it doesn?t, then permission to build is withheld.

If CC were to be able to receive funding other than loans that weren't approved, then CC would be going up.

If you are trying to say that completion would have been guaranteed if the owners had just replaced the never-approved loans with other loans, then no, that is untrue._ $850 million cash is, by itself, still not enough._ The 27 approvals are still mandatory._ And they are still un-issued.

Why was the construction of the deck over the MassPike for the CC project halted last year?

Deck construction was never halted._ It never even started._ Construction never started because, in addition to the proposal never being 100% funded . . .

(1) the design was never approved by the sworn, independent engineers that the Commonwealth requires to oversee tunnel design;
(2) California failed to buy the $295 million in performance bonds to protect MTA; and
(3) the property lease that California signed in 2006 has stayed in default for the last 3 years.

No project can proceed so long as it suffers from no design, no bonds, and no lease.

Why was the dirt moving halted last year?

The dirt-moving halted after the owners admitted to 4 events:
? California (current owner) cut off funding in September 2007;
? Winn (former owner) ran out of cash in March 2008;
? Massachusetts cut off subsidies in April 2008; and
? California refused to restore funding in April 2008.

These 4 causes were all covered in a string of newspaper articles during spring 2008, which remain on-line in this forum today._ The owners did get MTA permission to shovel dirt back and forth, in a ploy intended to retain investors and attract lenders._ But MTA never issued any approvals to build the tunnels below, or the buildings above.

So, the dirt-shifting halted because of:_ no cash, no tunnel approvals, and no building approvals.
 
Re: Columbus Center

Not sure what project is actually in worse shape. Columbus or Filenes? The way the credit markets look these days very GRIM. These Developers are going to have to put up more equity to finish these projects.
 
Re: Columbus Center

Can we seriously start a thread with news only and no commentary... from the moderators? I know I mentioned this before, but this thread really fucking blows. I just want NEWS, not this quibbling bullshit(mostly from Ned) This IS the worst thread and I generally completely avoid reading it 99% of the time, but then I miss out on anything happening. I can't be alone in this. somebody back me up
 
Re: Columbus Center

Can we seriously start a thread with news only and no commentary... from the moderators? I know I mentioned this before, but this thread really fucking blows. I just want NEWS, not this quibbling bullshit(mostly from Ned) This IS the worst thread and I generally completely avoid reading it 99% of the time, but then I miss out on anything happening. I can't be alone in this. somebody back me up

I check this thread looking specifically for a link to a CURRENT news article of photos (not so much photos recently given there is no progress). I generally avoid reading it but the last post caught my attention. So no, you're certainly not alone.
 
Re: Columbus Center

Suff, to paraphrase Bart Simpson: "Yes, something can suck and blow at the same time!"
 
Re: Columbus Center

BRA lists this project as "Board Approved".

Both the city and State were ready and waiting to hand over millions in cash and tax breaks.

No matter how many meeting you've attended or documents you've read, it's plain to see that there is no rational for arguing against the idea that the only things lacking on this project are a lot of steel and someone to pay for it.

And even were it not, where was this concern when tractors rolled onto the lot back in November of '07? I don't know about you all but if someone started building an unauthorized skyscraper next door to me, you can be sure I wouldn't be screwing around on a message board about microscopic particles. And I wouldn't be a lone voice of dissent.

This is simply Ned's issue de jour, and I personally apologize for having indulged it.
 
Re: Columbus Center

We should totally do that.

I've designed the skyscraper to be PERFECT for Boston.

4242-qff8p.jpg


Now all we need is a location.
 
Re: Columbus Center

I've designed the skyscraper to be PERFECT for Boston.

4242-qff8p.jpg


Now all we need is a location.

That orange box is far too tall for the surrounding neighborhood! It will create shadows! Wind gusts! Traffic! Solar glare! Not to mention, where's the public space?
 
Re: Columbus Center

The ribbon windows are perfect.
 
Re: Columbus Center

The approvals that Ned is talking about are CONSTRUCTION APPROVALS, like if they want to build the next floor, or start with the tunnel, or blah blah blah, they get a permit, which is almost always a safety formality. I don't see how it will be any different with this.

Two facts are evident in the public records:
● Safety and quality certifications from sworn, independent engineers are required throughout this project?s design stage and its construction stage.
● This project has serious prerequisites to getting its Boston Building Permit.

For those who don?t have the public records, or who don?t want to know what?s in them, here are the details.

1. During the design stage, this project requires certifications to state legislators and other top-level state officials, from sworn, independent engineers, that the designs are of the highest quality and safety._ These certifications were never issued._ They were never even applied for.

2. In September 2008, the owners announced that they had replaced their ?tunnel decks? with cheaper, faster, less durable ?tunnel platforms.?_ These platform designs were never even submitted to the sworn, independent engineers for quality control review.

3. After design quality is certified, this project requires $295 million in pre-paid performance bonds._ These bonds were never bought.

4. After the performance bonds are bought, this project requires completed railway and roadway tunnels underneath the 7-acre site._ These tunnels were never started.

5. After the tunnels are completed, this project requires millions of dollars in pre-paid Boston Building Permit fees (latest City estimate is $5,085,940)._ These fees were never paid.

So, this project is still years and millions of dollars away from its Boston Building Permit, which is far more than ?a safety formality.?
 
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Re: Columbus Center

BRA lists this project as "Board Approved".

For this project, the BRA hasn?t updated its web site in 6 years._ It was approved on 10 July 2003, but over the next 6 years . . .

● The former owner (Winn) sold the proposal to new owners (California).
● The new owners refused to provide the required $295 million performance bonds.
● The new owners defaulted on original lease, and refused to sign an amended one.
● Most of the rent was never paid.
● Nothing was built.
● The only state legislator who ever supported it was arrested, was indicted, and then resigned.
● The only state employee protecting the developers was laid off, and his position eliminated.
● No commercial lender ever risked even one dollar on this proposal.

Both the city and State were ready and waiting to hand over millions in cash and tax breaks.

You?re 6 years out of date._ After promising to seek no subsidies at all, the owners quietly sought 19 subsidies worth $604 million._ Some public subsidies were disapproved immediately upon request; others languished for years (neither approved nor disapproved); and others were pending for years but ultimately pulled back._ But by early 2009, virtually all had been canceled, withdrawn, reassigned, or otherwise rescinded.

. . . the only things lacking on this project are a lot of steel and someone to pay for it.

By that logic, the only thing needed for time tunnel travel is (a) lots of time tunnel and (b) someone to pay for it._ For any venture that?s just a plan on paper, it can be said that the ?only things lacking? are resources and cash._ But on this proposal, the resources-and-cash gap remains enormous, and unfilled.

. . . where was this concern when tractors rolled onto the lot back in November of '07?

Since 1993, all concerns have been voiced, vetted, and recorded._ Each concern became a matter of public record as it arose._ Elected officials and government employees alike were aware of the slew of problems._ Every major issue has been mentioned in the 6 newspapers regularly covering this proposal.

. . . if someone started building an unauthorized skyscraper next door to me, you can be sure I wouldn't be screwing around on a message board . . .

No one started to build an unauthorized skyscraper._ If you don?t recall what happened, or if you need to know more, re-check the public records, which show:

● In September 2007, the new owner (California) stopped funding.
● From October 2007 through March 2008, the former owner (Winn) performed theatrically staged ?site preparation and pre-construction activity? to (a) retain investor-owner interest; and (b) attract commercial construction loans.
● Shrubs were pulled, fences went up, and gravel was moved left and right.
● Nothing was ever built.
● In April 2008, the owners jointly claimed to have spent $110 million.

. . . And I wouldn't be a lone voice of dissent.

With this project, no dissenter has ever been alone._ State legislators, government agencies, elected officials, radio broadcasters, television broadcasters, and weekly and daily newspapers all heard from many people about plenty of issues._ The most recent 2 years of articles are on-line in this forum, and the rest of the over 1,000 articles are available elsewhere._ Every public comment letter is also still available.

People who associate only with cheerleaders for BEEARN (Build Everything, Everywhere, All-the-time, Right-away, No-matter-what) continue to say that they see no issues in this proposal, but that?s only because they haven?t asked the right questions.
 
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Re: Columbus Center

Wow, he's REALLY still forcing it. This Rainman still has yet to find anything better to do with his life. Sad, really...
 
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