Fan Pier Developments | Seaport

I can't find any proof about the tax break. Universal Hub says it was approved but only worth $12 million. Is it $12 million for each of six/seven years or what?

Thanks.

The deal I read is The state is borrowing 50 million to pay for new roads and improvements around the area.
The state will also give 10 million in tax credits for hiring additional employees and the city of Boston is adding another 11.8 Million in property tax breaks.

72.8 Million.

This is very hard to justify when the company relocated from fucking CAMBRIDGE as the city of Boston is raising taxes on everybody.


This is like Dimasi and Congos deal= Fallon & Menino.

This was Patrick favor to Menino for help getting him elected.
 
From what i've read Boston will be collecting $50 million in this period from Vertex, $12 million less than the standard rate. Almost all, if not every big project in Boston was built with special tax agreements, chapter 21a. I'm sure Vertex could have gotten a lot more from another state or country.
 
From what i've read Boston will be collecting $50 million in this period from Vertex, $12 million less than the standard rate. Almost all, if not every big project in Boston was built with special tax agreements, chapter 21a. I'm sure Vertex could have gotten a lot more from another state or country.

Vertex would not leave the area. The reason why Biotechs stay in this area is HARVARD, MIT. They want to stay close to the talent. I can deal with Tax Breaks based on foundation issues or defintely helping the infrastructure of the area.

The problem with the tax breaks for Vertex is I feel this is the Developer's job to entice the company to rent his building not the taxpayers. It's not our fault he paid too much for the site if that is the problem.

Whatever happened to risking your own money and making the deal happen yourself instead of using the taxpayers assistance for everything. The godam bankers can't even lend without understanding the reason for proper due dilligence to see if the person can afford the house in the first place without sometype of bailout.

In the end does this help Fallon complete Fan Pier. Yes. Is it anything that Boston can actually enjoy probably not. We will get a couple of box buildings on the waterfront that have nothing to do with majority of the public. They are catering to the hot sector that actually made Cambridge into Biotech area. The BRA or the Mayor really missed on the opportunity of letting Kraft and a New Fenway Park take over for this area. It could have been unbelievable. Now we will have a bunch of Scientists roaming around in the Seaport District instead of a bunch Bostonian crazed Sports nuts.

I went down Bar hopping last week in the Seaport. The only Bar that was packed was REMY's and it had the best vibe. All the other bars were 50% busy. Just go down their and check it out and you will understand why the area should have catered to the Boston Sports sector.
 
Now we will have a bunch of Scientists roaming around in the Seaport District instead of a bunch Bostonian crazed Sports nuts.

LOL...this is some next-level ish
 
Parking lot is closed down, and they're fencing off the site now...

imagevad.jpg
 
Maybe I'm wrong, but hasn't that parking lot back there been closed for a longgg time?
 
I assume they left some spaces for Louis?

Also, the best part about closing these lots is that all the cars simply disappear. Wipe out 100 spots and there's no parking armageddon. It really shows how the "built it and they will come" is applicable with parking usage. I doubt any of the regulars decided to try the fan pier underground garage (if its even open to the public)
 
Yeah, what are they going to do with Louis Boston? The rendering showed the new building just about right on top of the site.

If I were Fallon, I'd probably want to build on the lot between the courthouse and the first Fan Pier building. That way, the harbor views are retained for the longest amount of time and he gets a better opportunity to display his building to the city, along a main thoroughfare. It would also make that row look much denser.
 
Louis Boston is temporary, which was established at the start.
 
Mayor’s vision gains ground
Start of Vertex project adds muscle to lofty ‘Innovation District’ name
By Jerry Kronenberg
Tuesday, June 21, 2011 - Updated 4 hours ago

Boston Mayor Thomas M. Menino’s plan to turn South Boston’s waterfront into an “Innovation District” will get its largest boost to date tomorrow when biotech giant Vertex Pharmaceuticals breaks ground on new headquarters there.

“What this shows is the possibilities for the Innovation District,” Menino told the Herald yesterday. “This is just the beginning for the Innovation District.”

Menino and other dignitaries will be on hand tomorrow when developer Joe Fallon breaks ground on two office buildings for the biotech firm, which is moving to South Boston from Cambridge. The mayor wooed Vertex to South Boston partly by putting together a $72 million package of government incentives for the company.

The move will bring some 1,800 jobs to the area — and kick-start Menino’s dream of developing a district of tech companies, cool restaurants and hip housing to attract young “knowledge” workers.

The mayor unveiled his idea for the Innovation District — partly modeled on a Barcelona, Spain, development — during his 2010 inauguration speech.

“I’ve always wanted our waterfront to be a special place — a 24-hour neighborhood with diverse uses for everyone,” Menino said yesterday. “It’s really a place that will be open to the finest innovators.”

However, the plan only got limited traction at first, with some small start-ups renting space in the area.

But market watchers say Vertex’s decision to move in has really boosted interest in the neighborhood.

Vivian Li of the Boston Harbor Association, which lobbies for improving the waterfront, said real estate agents who cater to start-ups have recently begun asking for tours.

“Frankly, I doubted the mayor’s idea at first, of all of these small companies coming together,” Li said. “But now I see it happening.”

Commercial real estate broker Barry Hynes, who helped law firm Fish & Richardson relocate to the area from downtown, said Vertex’s move “is extremely positive” for the district. “You’re going to get a critical mass of people there who are going to need more services and more amenities,” he said.

Tomorrow’s ground breaking also represents a big milestone in the three-decade effort to redevelop South Boston’s Fan Pier.

Late Anthony’s Pier 4 owner Anthony Athanas first tried to develop the area in the 1980s but had a falling out with his business partners, Chicago’s wealthy Pritzker family.

The Pritzkers eventually took over the property, but the early 1990s recession and real estate bust put development on hold. Fallon bought the site in 2005, but had to weather the housing bust and the Great Recession since then.

“We’ve been building the site in phases,” Fallon told the Herald. “But now, we’re looking to be a little more aggressive thanks to Vertex.”

“I’ve always wanted our waterfront to be a special place — a 24-hour neighborhood with diverse uses for everyone,” Menino said yesterday.

A biotech lab is just what I always look for in a neighborhood! Now I have something to do 24/7!
 
^BostonUrbEx

+1

Beyond issues of land use, I'm completely amazed how the Boston media has NO interest in providing substantive information about the design / architecture, given the promise and significant public investment in the immediate area.

The use of varying district names (Innovation District, Seaport District, SB Waterfront, Marine Industrial Park, Fort Point District) in press announcements depending on land use is also intriguing. The hype seems to be just a political tool to generate a buzz rather than enage in real long-term planning solutions to solve critical issues (including the growth of a viable technology sector on the Waterfront without repeating the mistakes of Kendall Square).
 
Marine Industrial Park is a different place from here. It's the former Boston Army Base, north of Reserve Channel, where Harpoon Brewery, Boston Design Center, and the Black Falcon cruise ship terminal are.
 
The point I was making is that the name "Innovation District" is being selectively used whenever a technology firm locates in Fan Pier (Seaport District aka SB Waterfront), Fort Point District or in the South Boston Marine Industrial Park.

Example in the South Boston Marine Industrial Park

http://www.innovationdistrict.org/tag/design/

If a fish processing firm locates in the SBMIP, the press release calls it the South Boston Marine Industrial Park.

Last week when the annual Parade of Lights occured in the harbor, visitors were told to go to the Seaport District, not the Innovation District.

To a resident on the other side of town, the (mis)impression is that there is a new area called the Innovation District while the name is being selectively applied to multiple neighborhoods and districts, and may actually cross over the Fort Point Channel if a tech firm locates to Atlantic Wharf.
 
I don't see the conspiracy here. For better or worse the Mayor has a policy of luring tech firms to the Seaport. Branding the broader area "Innovation District" is part of this strategy. I don't think anyone is insisting that maps should be changed to reflect a name change over a designated area, and so I don't see why anyone should be held to consistency. If all goes as the mayor wants, the Seaport will be known as an innovation district, not referred to by everyone as the innovation district to exclude all other neighborhood names...

Unless I'm missing something.
 
^Shepard

What bugs me is that every 5 years the BRA has created the same "buzz" by embracing mostly young groups and organizations that have NO knowledge of history.

10 years ago, the BRA hosted dozens and dozens and dozens of charettes to raise excitement about the NEXT BIG THING, the SEAPORT DISTRICT. Here was one of the dozens of posters for various workshops and charettes:

aNnV7.gif


And here's the BRA plan for the NEXT BIG THING of 2000, all but forgotten by the Mayor and BRA today. I'd love someone to tell me where it was mentioned in the past 5 years of BRA press releases:

http://www.bostonredevelopmentauthority.org/planning/PlanningInitsIndividual.asp?action=ViewInit&InitID=3

Then in 2005, the NEXT BIG THING was the 100 Acre Plan for Fort Point, forgotten today as Fort Point is renamed Innovation District:

http://www.bostonredevelopmentauthority.org/planning/PlanningInitsIndividual.asp?InitID=33&action=ViewInit

I'd love someone to show me press release from the Mayor or BRA within the past 2 years discussing any follow through on the 100 Acre Plan.

While the Innovation District may be a good idea, the history here is to generate publicity, buzz, excitement and NO substantive follow through on an urban plan. Other cities around the world are blowing us out of the water in the design of their waterfronts.

So yeah, I don't like the Seaport District, Fort Point District and the SBMIP being selectively called the "Innovation District" with no meat on the bones. It wouldn't matter to me if the BRA wasn't jettisoning its own urban plans every 5 years in favor of DISTRICT NAME DU JOUR.
 

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