Re: Jimmy's Harborside Development
That first photo of the vacant windows showcases an excellent lesson in how the government both helps and interferes with real estate development:
HELPS: The BRA decreed all ground floor space must be zoned for retail - to bring vibrancy and life to the streets.
HURTS: In a free market, retailers do not wish to be in the first floor of that particular office building, facing parking lots, with little foot traffic. Retailers look at the space and take a pass.
COMMON SENSE (the opposite of government): Allow the landlord to use the vacant retail space as something other than retail, to at least have a use with lights on, people working in the windows and such... government won't allow, it's "retail zoned only" so it stays vacant until retailers choose to lease there.
The rule meant to bring street life effectively kills the reality of any street life.
In my research on the area I have had extensive conversations with people at the World Trade Center complex and changes are coming... the property was built as an island with nothing around it. So everything is self-contained.
Ten years later it is time to open that property up and knit it into the surroundings - now that it has surroundings.
They get this, they know this, but the neighborhood may or may not be ready for it. Should they give away free rent to a retailer just to fill the space? Do the two law firms in that building want a McDonald's in their lobby? Who really wants to and can afford to rent that space? The market isn't there yet, and even in Boston, government only has so much reach.
There are six on-site restaurants at the WTC complex, more if you count the cafeteria food in the WTC itself. Seven if you count Dunkin Donuts.
1) Morton's
2) Fresh City
3) Sebastien's
4) Aura
5) Tamo
6) The Deli at the Seaport Hotel
(7) Dunkin Donuts
