Copley Place Expansion and Tower | Back Bay

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Re: Copley Place plan calls for condo tower

I knew it... so much was in the pipeline and press for every other project in the city, the silence on this was deafening.

And there's Byron Rushing and Marty Walz... showing their true colors as always. If it was being built, they have a problem with it. If its on hold, they have a problem with it.

Imagine that.
 
Re: Copley Place plan calls for condo tower

Anybody else think that the affordable housing component might be influencing this decision?

I think they should be allowed to satisfy this requirement in a different part of the city. Nobody should have the right to luck into a select few below-market-value apartments (or is it affordable condos?) in such a desirable location. How does that help the rest of us? It also lowers the taxes that can be collected by the city.

Hopefully they come back with something about 50 feet higher (and same quality/general design) so we get a 3rd tower into the 200 meter club. (arbitrary international standard for judging skylines)
 
Re: Copley Place plan calls for condo tower

I'm hoping their announcement in the Spring will be a taller tower and more residences. The Abbey Group got away with it with ZERO opposition a couple months ago for 1282 Boylston; Millenium Partners got away with a more grandiose proposal for the Filene's Tower; and by the looks of it Fenway Center will have a larger residential component as well. Also, if the Bloomberg article that stellarfun shared is any indication, it is very possible that Simon's financial situation is favorable for an even more ambitious development at Copley Place.

Maybe we should all just wait patiently for Simon's announcement in the Spring.
 
Re: Copley Place plan calls for condo tower

^^^ That's what I'M talkin' 'bout.
 
Re: Copley Place plan calls for condo tower

So sad!....After today's news I think I will never go to another Mall again.
 
Re: Copley Place plan calls for condo tower

dshoost88 said:
I'm hoping their announcement in the Spring will be a taller tower and more residences. The Abbey Group got away with it with ZERO opposition a couple months ago for 1282 Boylston; Millenium Partners got away with a more grandiose proposal for the Filene's Tower; and by the looks of it Fenway Center will have a larger residential component as well. Also, if the Bloomberg article that stellarfun shared is any indication, it is very possible that Simon's financial situation is favorable for an even more ambitious development at Copley Place.

Maybe we should all just wait patiently for Simon's announcement in the Spring.
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^ THIS.

Essentially, we have been without any new information since this project was approved. Now all of a sudden we have news articles stating the obvious, "We have no news!", and everyone starts moping around. What is wrong with this place? Since we're supposedly in a 'recovery', perhaps we should expect something bigger. But they are NOT going to say that with locals reps and neighborhoods keeping an ear on this. Almost the same time this posted on archBoston, I received an email from one of the NIMBY groups. They're all over this, any changes for the better are going to be kept under wraps.
 
Re: Copley Place plan calls for condo tower

I think your sig explains the pessimism better than I could.
 
Re: Copley Place plan calls for condo tower

dshoost88 said:
I'm hoping their announcement in the Spring will be a taller tower and more residences. The Abbey Group got away with it with ZERO opposition a couple months ago for 1282 Boylston; Millenium Partners got away with a more grandiose proposal for the Filene's Tower; and by the looks of it Fenway Center will have a larger residential component as well. Also, if the Bloomberg article that stellarfun shared is any indication, it is very possible that Simon's financial situation is favorable for an even more ambitious development at Copley Place.

Maybe we should all just wait patiently for Simon's announcement in the Spring.
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I sincerely hope you're right. This hold up has me wondering if the project will ever get built, or will be chopped down a bit.
 
Re: Copley Place plan calls for condo tower

Consider, the Filenes site is probably closer to start. How much of an impact could Millennium's plans in DTX have on Simon's plans here? Investors could either be afraid of a glut of high-end apartments coming to market at about the same time, or emboldened to go larger. Or to consider a mix of office and hotel uses.
 
Re: Copley Place plan calls for condo tower

Beton Brut said:
Consider, the Filenes site is probably closer to start. How much of an impact could Millennium's plans in DTX have on Simon's plans here? Investors could either be afraid of a glut of high-end apartments coming to market at about the same time, or emboldened to go larger. Or to consider a mix of office and hotel uses.
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That didn't stop investors from letting 20,000+ housing units get built at the same time in downtown Miami. And despite the freak-out with foreclosures when the recession hit in 2008, foreign buyers ultimately swept up the rest of the units and now against all odds there is a housing shortage in downtown Miami... enter the second wave of downtown condo construction taking place there today.

There is without question a shortage of inventory in the Boston proper neighborhoods, so I remain hopeful that Simon goes big or goes home.
 
Re: Copley Place plan calls for condo tower

dshoost88 said:
That didn't stop investors from letting 20,000+ housing units get built at the same time in downtown Miami. And despite the freak-out with foreclosures when the recession hit in 2008, foreign buyers ultimately swept up the rest of the units and now against all odds there is a housing shortage in downtown Miami...
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Interesting information.

But Miami is a resort economy, and one of the great cities of Latin America -- much of the foreign money comes from that part of the world. I don't think we could expect a similar result here, even scaled-down to Boston's size.

Boston isn't in demand in the same way as Miami. Sure, a Saudi Prince or a Russian plutocrat might purchase a pied-à-terre (or a playpen for one of his children attending college here).

I think the money-people at Simon might be worried about being second to market. It's a shame, because their building is much more attractive.
 
Re: Copley Place plan calls for condo tower

What about Toronto? That is not a resort economy, and that city has one of the biggest booms I have ever seen. In the last 5 years they have built the equivalent of the entire Boston skyline, and now they are currently constructing the equivalent of the entire Boston skyline (crazy right?). Amazingly, 10 years ago the skylines were somewhat on par with each other.

Somehow the demand continues to be there in Toronto. I hear that foreign investors have bought a lot there too.

Considering the housing crunch Boston has been experiencing, with prices through the roof and an extremely low vacancy rate, who is to say that the demand isn't here too?
 
Re: Copley Place plan calls for condo tower

Is there any chance that the problem is that they don't want to expand Nieman Marcus at this point?
 
Re: Copley Place plan calls for condo tower

DZH22 said:
Somehow the demand continues to be there in Toronto. I hear that foreign investors have bought a lot there too.
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Canada actually tries to welcome foreign investors and educated foreigners. The country's immigration policies are the world standard.

The US, on the other hand, does everything it can to keep wealthy and educated foreigners out - in the 21st century, we like our immigrants illegal, picking tomatoes, and washing dishes.

More broadly, the Canadian economy has been very strong in recent years, unlike the US economy - for the first time in modern history, Canadian per capita GDP (i.e., affluence) has surpassed the US in recent months. This is not only because Canada courts the high-skilled immigrants capable of growing a high-wage knowledge and tech economy but also because Canada has wholeheartedly mined and pumped its natural resources during the last decade's global commodity boom.

On those two macro-trends driving the world economy - knowledge and energy - Canada and its policies have us beat pretty badly.
 
Re: Copley Place plan calls for condo tower

Not to mention the Canadian banking sector was much more prudent in the run up to 2008. Not sure if that was due to regulation or common sense, but they're financial system never teetered on the brink of meltdown.
 
Re: Copley Place plan calls for condo tower

itchy said:
Canada actually tries to welcome foreign investors and educated foreigners. The country's immigration policies are the world standard.

The US, on the other hand, does everything it can to keep wealthy and educated foreigners out - in the 21st century, we like our immigrants illegal, picking tomatoes, and washing dishes.
Click to expand...

Canada, unlike the US, doesn't have almost 2000 miles of what used to be mostly unprotected border with an economically deprived country who's citizens, and those of other impoverished counties, crossed over by the millions!
 
Re: Copley Place plan calls for condo tower

atlantaden said:
Canada, unlike the US, doesn't have almost 2000 miles of what used to be mostly unprotected border with an economically deprived country who's citizens, and those of other impoverished counties, crossed over by the millions!
Click to expand...

Wouldn't surprise me if this happens to Canada sometime within the next 20 years.
 
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