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Fenway Center (One Kenmore) | Turnpike Parcel 7, Beacon Street | Fenway
bolehboleh
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Re: Fenway Center (One Kenmore, Mass Turnpike PARCEL 7)
“It’s over and they gave up,” said John Rosenthal, president of Meredith Management Corp. “They decided that there’s time to hold ‘em and time to fold ‘em. They had no chance and finally stopped spending stockholder money on a meritless lawsuit against City Hall.”
I'm in total support of this project, but should Rosenthal really be "spiking the football" considering he's still going to be neighbors with his "opponent?"
“It’s over and they gave up,” said John Rosenthal, president of Meredith Management Corp. “They decided that there’s time to hold ‘em and time to fold ‘em. They had no chance and finally stopped spending stockholder money on a meritless lawsuit against City Hall.”
I'm in total support of this project, but should Rosenthal really be "spiking the football" considering he's still going to be neighbors with his "opponent?"
JohnAKeith
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Re: Fenway Center (One Kenmore, Mass Turnpike PARCEL 7)
Yeah, that's how I read his comment, too.
Yeah, that's how I read his comment, too.
Re: Fenway Center (One Kenmore, Mass Turnpike PARCEL 7)
Eh, I deal with people who do this to their neighbors on a regular basis. After spending multiple years and untold sums of money on litigation I can't exactly blame him. I mean, really what (non-criminal) thing could they do to Rosenthal at this point? Fortunately, with neighbors you can just recommend building a fence; "fences make good neighbors" anyway. In this case they really just have to deal with it and wait for reimbursement from the city if it does actually take their land to build the proposed roads.
Eh, I deal with people who do this to their neighbors on a regular basis. After spending multiple years and untold sums of money on litigation I can't exactly blame him. I mean, really what (non-criminal) thing could they do to Rosenthal at this point? Fortunately, with neighbors you can just recommend building a fence; "fences make good neighbors" anyway. In this case they really just have to deal with it and wait for reimbursement from the city if it does actually take their land to build the proposed roads.
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Re: Fenway Center (One Kenmore, Mass Turnpike PARCEL 7)
Rosenthal's investment partner is trying to get more concessions from MassDOT by making public (yet anonymous) noise about backing out of the project.
Rosenthal's investment partner is trying to get more concessions from MassDOT by making public (yet anonymous) noise about backing out of the project.
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Re: Fenway Center (One Kenmore, Mass Turnpike PARCEL 7)
Project is in trouble, again!
http://www.boston.com/realestate/ne...ith-massdot/az9IwxodG0KhVkoEAdtwoM/story.html
Project is in trouble, again!
http://www.boston.com/realestate/ne...ith-massdot/az9IwxodG0KhVkoEAdtwoM/story.html
stellarfun
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Re: Fenway Center (One Kenmore, Mass Turnpike PARCEL 7)
Why won't Rosenthal identify his investment partner, the one who is doing most of the project financing? And this anonymous partner is now trying to renegotiate lease terms?
When the anonymous partner supposedly agreed to finance the project, the partner must have done due diligence on the lease terms before agreeing to finance.
I predict this project never gets built. Like Arthur Winn, Rosenthal's reach exceeds his financial capabilities and experience as a developer.
Why won't Rosenthal identify his investment partner, the one who is doing most of the project financing? And this anonymous partner is now trying to renegotiate lease terms?
When the anonymous partner supposedly agreed to finance the project, the partner must have done due diligence on the lease terms before agreeing to finance.
I predict this project never gets built. Like Arthur Winn, Rosenthal's reach exceeds his financial capabilities and experience as a developer.
TheRifleman
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Re: Fenway Center (One Kenmore, Mass Turnpike PARCEL 7)
Why would Rosenthal move forward after seeing the tax-break give away to Fan Pier Developer Joe Fallon, Liberty Mutual, and State Street Bank which did refuse to take the tax breaks after they got reemed.
If I was a private developer I would do the same thing at this point.
Why would Rosenthal move forward after seeing the tax-break give away to Fan Pier Developer Joe Fallon, Liberty Mutual, and State Street Bank which did refuse to take the tax breaks after they got reemed.
If I was a private developer I would do the same thing at this point.
Re: Fenway Center (One Kenmore, Mass Turnpike PARCEL 7)
I'm sure if he was dealing with the City and nto MassDot there would be no problem. While Boston has actually been running a budget surplus for the past couple of years, everyone knows about the budget woes MassDot. One would hope Davey wouldn't hold this up in a misguided effort to fix the problem.
I'm sure if he was dealing with the City and nto MassDot there would be no problem. While Boston has actually been running a budget surplus for the past couple of years, everyone knows about the budget woes MassDot. One would hope Davey wouldn't hold this up in a misguided effort to fix the problem.
AmericanFolkLegend
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Re: Fenway Center (One Kenmore, Mass Turnpike PARCEL 7)
Hutch, put yourself in DOT's shoes.
Of course the city wants a vibrant, dense development to move forward. They get new property tax revenues.
DOT gets nothing except air rights lease payments and a construction headache. They should be trying to get the highest rents possible. They don't owe the city anything.
There should be someone from the Patrick Administration overseeing the negotiations to make sure the City and DOT each get a piece of the pie.
Hutch, put yourself in DOT's shoes.
Of course the city wants a vibrant, dense development to move forward. They get new property tax revenues.
DOT gets nothing except air rights lease payments and a construction headache. They should be trying to get the highest rents possible. They don't owe the city anything.
There should be someone from the Patrick Administration overseeing the negotiations to make sure the City and DOT each get a piece of the pie.
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JohnAKeith
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Re: Fenway Center (One Kenmore, Mass Turnpike PARCEL 7)
I've started calling it "One CRYmore" now.
I've started calling it "One CRYmore" now.
Re: Fenway Center (One Kenmore, Mass Turnpike PARCEL 7)
I sort of agree with the second sentence. I think the Civic Vision itself was productive and the resulting document was framework for the planning process that was positive. It's the bidding and awarding process that is FUBAR.
I sort of agree with the second sentence. I think the Civic Vision itself was productive and the resulting document was framework for the planning process that was positive. It's the bidding and awarding process that is FUBAR.
Officejab
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Re: Fenway Center (One Kenmore, Mass Turnpike PARCEL 7)
It looks like a love child of the Ritz Carlton.
While I'm not a huge fan of the project it would but nice to start stitching up the slice that is the Mass Pike. Hopefully sometime soon one of these parcel projects can wade through the political bull shit and start construction.
It looks like a love child of the Ritz Carlton.
While I'm not a huge fan of the project it would but nice to start stitching up the slice that is the Mass Pike. Hopefully sometime soon one of these parcel projects can wade through the political bull shit and start construction.
