Downtown Crossing/Financial District | Discussion

Shepard said:
Globe article with very few concrete facts talks about Suffolk eyeing both the Borders space and the Filenes hole for their possible move from Beacon Hill to DTX. (There's really not that much more in the article than what I just wrote.)

http://www.boston.com/yourtown/news/beacon_hill/2012/01/suffolk_move_could_bring_more.html
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Awesome, I forgot to post this like 20 times! Ha.


I'm surprised by this Borders stuff, but I just knew they were keeping a close eye on Filene's, I could just feel it. They're going to watch the Filene's parcel with a close eye for some time, even if they don't have the funds (they certainly don't unless there's cards up their sleeve).

They really need to up the acceptance standards, though. There's some really awesome, wicked smahht people, but there's a majority of big-mouthed, dude-bro, slut-whore idiots walking around and it's embarrassing.


Also, the Globe seems as if to have access to a fountain of negative insider info about Suffolk. It's amusing. :rolleyes:
 
My main concern is Suffolk's ability to execute. Didn't they abandon their Somerset Street construction project (former MDC building) halfway through, just like Vornado did with Filene's?
 
The building is still standing, but as I understand it, it's nearly entirely gutted, and it's completely encased in construction netting, plus the sidewalks have been blocked for 3-5 years now. It hasn't been "officially" abandoned, nor even postponed, but the lack of activity is obvious and the need for a shift in financing makes it apparent that this is sitting for a little while longer, at least. I recall a rumor that they may try to sell it off to someone else, but I'm not sure how serious that was or if it's on the table right now/or ever really was.

But yes, until the Modern Theater, the ability to execute was very high. But now there's serious doubts. They're already renting space in One Beacon, perhaps it's better for them to rent at this time if they could sign on to someone else's project at Filene's, if anyone is willing?
 
Scrcreeeech. Saying that half of Boston is owned by "tax-exempt institutions" makes it sound as though universities and hospitals are to blame. As the report you linked to points out, 79% of the 50% of land area (not buildings, land) is owned by city, state, and federal entities. If we didn't want "tax-exempt institutions" in downtown, we'd close city hall and the state house and turn them into casinos.

I love when people say Boston should have its non-profits pay taxes. Do they even live in Boston? If not, then why should they even have a say? I live in Boston, and I pay property taxes. I don't want non-profits to pay taxes. I'm willing to pay more (and have paid more) to keep them from not having to pay.

And, the PiLoT program is nothing more than a couple of bullies trying to get away without having to make the tough decisions (budget cuts or property tax increases).

About the topic at hand, I can't see any way that Suffolk could do more than an even property swap from Beacon Hill to Downtown Crossing. That means Borders (which is office space upstairs; where do they go?) and a couple other smaller buildings. They're basically bankrupt, right? Who's making up this mad story?

I love the idea of them moving into the DTX neighborhood. It would give it a vibrancy and the "24-7" life that everyone's been clamoring for. Even better, their students don't have to take the trains anywhere and won't be running up and down the streets of the North End and Beacon Hill any longer.

They certainly won't get the same sort of deals that Emerson got on the Little Building - that was years before the neighborhood turned for the better. And, Emerson only owns four buildings on Beacon (and now the two on Washington); that's not a huge land mass.

And, I don't understand the obsession with the SPID when there's a neighborhood right here, DTX, with the public transportation, empty space, convenience, and amenities that any start-up would need to be happy for years.
 
Bubbybu said:
In San Francisco the Academy of Art University (AAU) is literally on every block downtown...they have dorms, apartment buildings, admin buildings, school buildings etc...this is a for-profit college and it doesn't seem like their diplomas would be worth much but it's a cash cow because of all the rich internationals who can send their kids here on a student visa and because of government loans...

To have something so pervasive in the middle of a major urban area is a bit of a turnoff to me...I really don't like the idea of schools gobbling up random tracts of real estate to buff their portfolio like Starbucks...I can understand some organic outgrowth more like with BU along Comm Ave. Boston doesn't have an AAU, thankfully.

Old but interesting articles....


http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2004/09/14/carollloyd.DTL&ao=all


http://blogs.sfweekly.com/thesnitch/2010/01/academy_of_art_lawsuit.php
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Bub - ever been to Cambridge?

start at Porter Sq. and follow Mass Ave. toward Boston:

1815 Massachusetts Avenue -- Lesley University
Harvard Sq. -- Harvard U.
1000 Massachusetts Avenue -- Cambridge College
77 Massachusetts Avenue -- MIT

You have 4 fairly significant institutions of higher education about a 10 minute walk from each other or one per Red Line stop
 
JohnAKeith said:
Scrcreeeech. Saying that half of Boston is owned by "tax-exempt institutions" makes it sound as though universities and hospitals are to blame. As the report you linked to points out, 79% of the 50% of land area (not buildings, land) is owned by city, state, and federal entities. If we didn't want "tax-exempt institutions" in downtown, we'd close city hall and the state house and turn them into casinos.

I love when people say Boston should have its non-profits pay taxes. Do they even live in Boston? If not, then why should they even have a say? I live in Boston, and I pay property taxes. I don't want non-profits to pay taxes. I'm willing to pay more (and have paid more) to keep them from not having to pay.

And, the PiLoT program is nothing more than a couple of bullies trying to get away without having to make the tough decisions (budget cuts or property tax increases).

...

I love the idea of them moving into the DTX neighborhood. It would give it a vibrancy and the "24-7" life that everyone's been clamoring for. Even better, their students don't have to take the trains anywhere and won't be running up and down the streets of the North End and Beacon Hill any longer.

...
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I do live in Boston, I am a homeowner and I pay property taxes so I think I should have a say, and I still think institutions should be paying more than they currently are.

I meant to include this link as well http://www.bmrb.org/content/upload/PILOTS209.pdf which shows the total assessed value of tax-exempt property in the city is $36 billion. When you take that and look at the 2009 report http://www.bmrb.org/content/upload/TE309.pdf it shows that medical and education institutions have an assessed value of $12.7 billion. So even though they are only 22% of the total land, it's one third of the assessed value.

The point being they have some prime real estate, and I don't think it makes sense to give them more prime real estate.

Having students in DTX isn't exactly the 24-7 vibrancy I want for the area. I don't think it needs to become a playground for kids living away from home for the first time and throwing up on the way back from the bars at Faneuil Hall.
 
If Menino could lure Vertex to Fan Pier, surely Harvard College could be convinced to build a new vertical Filene's campus. The Greenway Conservancy could manage Harvard Yard as a frisbee-free modern art installation platform. Everyone wins.
 
MBTAddict said:
I do live in Boston, I am a homeowner and I pay property taxes so I think I should have a say, and I still think institutions should be paying more than they currently are.

I meant to include this link as well http://www.bmrb.org/content/upload/PILOTS209.pdf which shows the total assessed value of tax-exempt property in the city is $36 billion. When you take that and look at the 2009 report http://www.bmrb.org/content/upload/TE309.pdf it shows that medical and education institutions have an assessed value of $12.7 billion. So even though they are only 22% of the total land, it's one third of the assessed value.

The point being they have some prime real estate, and I don't think it makes sense to give them more prime real estate.

Having students in DTX isn't exactly the 24-7 vibrancy I want for the area. I don't think it needs to become a playground for kids living away from home for the first time and throwing up on the way back from the bars at Faneuil Hall.
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T-adict -- I'm sure that most of us were once part of that "kids living away from home for the first time and throwing up on the way back from the bars at Faneuil Hall" -- most of us survived that phase and moved into a productive phase of our lives where we pay a lot of taxes -- some of which pays the U's that host the "kids....'

Cambridge and the parts of Boston that have large student populations benefit from the students and the rest of what a U brings in many ways -- sure U's and students can be unruly at times

A DTX with Emerson on one corner and Suffolk at the other with the Fin Dist on almost 2 sides and some local non-student residents, with the group of U-connected theaters would be a 24x7 district -- a sort of higher end version of Kenmore Sq. -- perhaps like it was when there were grand hotels and residences in the neighborhood
 
MBTAddict said:
True, and I'll admit I didn't consider that point. I guess I would just prefer to see something else on the site. About 50% of Boston is owned by tax-exempt institutions (From the Municipal Research Bureau http://www.bmrb.org/content/upload/TE08.pdf and http://www.bmrb.org/content/upload/TE309.pdf ) so I think when a spot has such high potential, we should try and maximize it, or if it goes to Suffolk then at least negotiate better PILOT payments.
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Seems to me like this conversation* is only about the tax-exempt status of non-profits, and not the entire economic impact they have in an area. Why is that?

* And by "this conversation" I mean collectively, not just in this thread.
 
Washington Street in Downtown Crossing (namely from Winter Street to Bromfield Street) is pretty pathetic at this point and I am not even referring to the Filenes side of the street. I can't believe the old Barnes and Noble site has been vacant for almost 6 years now and no sight of any new tenant. Now that I can't buy a book, some music or or a DVD in Downtown Crossing it is nearly useless to me from a shopping standpoint and I work a block away.
 
BosDevelop said:
Washington Street in Downtown Crossing (namely from Winter Street to Bromfield Street) is pretty pathetic at this point and I am not even referring to the Filenes side of the street. I can't believe the old Barnes and Noble site has been vacant for almost 6 years now and no sight of any new tenant. Now that I can't buy a book, some music or or a DVD in Downtown Crossing it is nearly useless to me from a shopping standpoint and I work a block away.
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BosD -- in part you'll have to blame Amazon -- in a couple of weeks you can take the Red Line to Kendall to protest at Amazon's new development outpost

That might be another good thing to come from a move of Suffolk to DTX --- there would be a sufficient critical mass for a good college bookstore in the DTX such as the Coop at Kendall, or even the B&N @ BU Bookstore
 
At that point it would make sense for Suffolk and Emerson to team up and have one good bookstore together instead of two small and insufficient ones separately.
 
Ron Newman said:
At that point it would make sense for Suffolk and Emerson to team up and have one good bookstore together instead of two small and insufficient ones separately.
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Ron -- I'd go further and make it a generic Book, Nook and mutltimedia store and get B&N to run it for all of the colleges and U's too small to have much of store for themselves it could also serve as a replacement for the book and disc shops for the commuters and tourists
 
First time seeing it in person......we all knew it was coming, but damn it hurts. That guy to the left was standing there staring at it in disbelief as well.

6822150173_8b7a5b098c_b.jpg
 
^^ Modell's?! Odd. I've never actually been inside one in NYC, but passing by, in my experience they all look unkempt, downscale and, well, somewhat gross. Maybe that's just my own experience, but I hope this one is a bit nicer, offers a better customer experience, and generally speaking doesn't suck.
 
is that Modell's just a temporary milk the super bowl for a quick buck shop?
 
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