Liberty Wharf | 220-270 Northern Ave | Seaport

[Sicilian]

Re: Liberty Wharf (Jimmy's Harborside)

If I'm not mistaken, Liberty Wharf is owned by Massport, leased to Cresset.

Public property, or at least it was.

Seems like a major oversight of the Boston Globe not to mention that the developer didn't purchase the land, or take a risk in speculation as suggested in this thread.

So, are the terms of the Massport lease relevant? Massport was entrusted to see a return, true?

Does the public have a stake in the profit, much of which exists as a result of taxpayer investment?

Liberty Wharf is a win in terms of land use. But the stakes of public investment are pretty high, and a sale of a $30m investment for $60m should raise eyebrows in terms of the public stake in a return.

 

[BostonObserver]

Re: Liberty Wharf (Jimmy's Harborside)

Believe it or not I'm actually a person that believes the glass is always half full.

Ya, with cynide.

 

[TheRifleman]

Re: Liberty Wharf (Jimmy's Harborside)

If I'm not mistaken, Liberty Wharf is owned by Massport, leased to Cresset.

Public property, or at least it was.

Seems like a major oversight of the Boston Globe not to mention that the developer didn't purchase the land, or take a risk in speculation as suggested in this thread.

So, are the terms of the Massport lease relevant? Massport was entrusted to see a return, true?

Does the public have a stake in the profit, much of which exists as a result of taxpayer investment?

Liberty Wharf is a win in terms of land use. But the stakes of public investment are pretty high, and a sale of a $30m investment for $60m should raise eyebrows in terms of the public stake in a return.

As SeamusMcfly would say "We would not want to question such a successful story ."

Picture a sheep having two entry ways to choose from, Right or Left........In reality the both entrances lead to the same door. Those are the taxpayers choices these days..

 

[Hutchison]

Re: Liberty Wharf (Jimmy's Harborside)

Why would/should the public be entitled to any profit concerning the sale of lease rights? Terms of the lease/contract assigned it a value that Massport presumptively still gets from the new owner of the rights (sale presumptively being an assignment). So assuming that sale/assignment was provided for in the initial contract and nothing voids it, why shouldn't Massport be bound by it?

 

[AmericanFolkLegend]

Re: Liberty Wharf (Jimmy's Harborside)

Picture a sheep having two entry ways to choose from, Right or Left........In reality the both entrances lead to the same door. Those are the taxpayers choices these days..

In Scotland they say a sheep has two entry ways to choose from. Mouth and ass.

 

[Sicilian]

Re: Liberty Wharf (Jimmy's Harborside)

Why would/should the public be entitled to any profit concerning the sale of lease rights? Terms of the lease/contract assigned it a value that Massport presumptively still gets from the new owner of the rights (sale presumptively being an assignment). So assuming that sale/assignment was provided for in the initial contract and nothing voids it, why shouldn't Massport be bound by it?

For the most part, I was making a point that this isn't exactly free market capitalism at work.

I guess the public stake depends on the terms of the lease.

If the lease was $1, and public investment was pumped in to increase property value (which it did), perhaps the Massport lease contemplated a sale.

 

[SeamusMcFly]

Re: Liberty Wharf (Jimmy's Harborside)

Wow, I just got misquoted by the Rifleman and had my deep roots in Scotland offended in almost back to back posts.

You know why Scotsman wear kilts right?
Sheep can hear zippers.

 

[kz1000ps]

Re: Liberty Wharf (Jimmy's Harborside)

 

[atlantaden]

Re: Liberty Wharf (Jimmy's Harborside)

Liberty Wharf seems to be a success in every sense of the word.

Thanks for all the great pics you posted, kz!!

 

[whighlander]

Re: Liberty Wharf (Jimmy's Harborside)

Wow, I just got misquoted by the Rifleman and had my deep roots in Scotland offended in almost back to back posts.

You know why Scotsman wear kilts right?
Sheep can hear zippers.

SheMc --- Buck-up its not that bad

The following is to a certain extent based on a true underlying event -- a famous scientific conference held Edinburgh Scotland in the late 19th Century

The cast of characters:
world famous physicist Lord Kelvin
An anonymous astronomer
an anonymous mathematician specializing in logic

Astronomer remarking as the train rounds a bend opening a beautiful valley and hill vista and seeing a black sheep grazing on the hill -- "All sheep in Scotland are black"

Lord Kelvin -- one of the pioneers in statistical mechanics -- "No, No my friend -- Most sheep in Scotland are black"

"Mathematician -- "One half of one sheep in Scotland is black"