Millennium Tower (Filene's) | 426 Washington Street | Downtown

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Re: Filene's

I don't know whether Filene's Basement could really have stood on its own with just that one store, though. Historically they were not a separate company -- they were just the bargain basement department of Filene's upstairs. Once that tie was cut in 1988 (with Filene's sale to May Department Stores), they probably had to expand or die.
 
Re: Filene's

There are lots of single store retail outlets. And Filene's Basement had a lot going for it. Low rent, central location and brand recognition off the charts. If anything I think it would have been more successful as a single store. A true destination retail outlet.

Alas, we'll never know.
 
Re: Filene's

Ron Newman said:
I don't know whether Filene's Basement could really have stood on its own with just that one store, though. Historically they were not a separate company -- they were just the bargain basement department of Filene's upstairs. Once that tie was cut in 1988 (with Filene's sale to May Department Stores), they probably had to expand or die.
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The original Basement was a destination because other high-end stores, think Saks, Bergdorf, Needless Markup, etc. used it as an equivalent of an outlet store. Clothes that they didn't want to put on sale in their own stores, or which they couldn't sell in their own stores, were sent to the Basement.
 
Re: Filene's

Ron Newman said:
Agreed. Why couldn't they have gone on forever in that space, unrenovated?
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For one, the building was FILLED with asbestos. It was in everything. The floors, the walls, the ceilings, the fixtures, and it was flaking and powdering. The only solution was to gut all of it and take it away. Entrainment wasn't possible any more with all the deterioration. In addition, the subterranean levels leak. The system that was in place to remove the water was no longer keeping up and there were mold issues all over the place. A pretty ingenious new system was designed for the refit. I know everyone just loved the quaintness of it all, but, after crawling around, behind, and under stuff in there for awhile, I didn't feel exactly safe hanging around in there. Something had to be done, the store couldn't stay that way and remain open for too much longer. The regulatory agencies had been after them to renovate for years.
 
Re: Filene's

This wasn't posted anywhere else, was it?

What?s the best plan to resurrect Downtown Crossing?
By Boston Herald staff

Boston Redevelopment Authority Executive Director Peter Meade told Herald editors and reporters yesterday that the city?s central shopping district is a priority, but there are still hurdles, such as the stalled One Franklin project at the former Filene?s site. Here are a few suggestions from the Herald?s BizSmart team to get things started:

FRANK QUARATIELLO

Urban casino offers huge payoff

Imagine a high-rise hotel and casino at the former Filene?s site in Downtown Crossing.

The mayor would never have to worry about attracting people to the shopping district again.

Downtown Crossing?s biggest problem is that it needs to give people a unique reason to go there ? something they can?t find in the Back Bay or a mall.

A downtown casino could be an amazing economic engine, creating jobs and foot traffic. Empty storefronts would fill up.

Parking would be the only major hurdle, but a mix of satellite lots, shuttle buses and public transportation should be able to do the job.

Nothing else ? not an Apple store or a supermarket or more housing ? would put Downtown Crossing back on the map like a casino.

JESSICA VAN SACK

Create a high tech corridor

Call it Digital Alley.

Downtown Crossing should be transformed into the Hub?s new tech corridor, with a combination of retail shops and other commercial space and tourist-drawing bells and whistles.

With campuses for Microsoft and Google already across the river, why not offer tax credits to Apple to open its newest East Coast office as an anchor tenant?

Microsoft has no retail stores in the Northeast, and Downtown Crossing would be the perfect site for its flagship store. Perhaps Microsoft?s presence would attract another Apple store. And why wouldn?t Google make its first foray into retail right next door?

These tech powerhouses would be the perfect complement to the handful of small start-ups toiling away in dilapidated Downtown Crossing buildings..

As for a wow factor to draw tourists, something like the iconic billboards that illuminate Times Square comes to mind.

Digital Alley would be a natural bridge between Faneuil Hall Marketplace and the Theater District ? and make for another huge downtown attraction.

THOMAS GRILLO

Housing will make it a neighborhood

Housing is the key to Downtown Crossing?s future.

Forget about more restaurants. Forget about adding student dorms. Forget about more retailers ? malls with acres of free parking have put a stake in the heart of Downtown Crossing. None of the those ideas is the magic potion to cure what ails DX.

The answer is housing. While 6,000 people live in the district now, increasing the number dramatically will transform it into a true 24/7 urban village.

But first, the former Filene?s site must be rescued. The city should use the power of Chapter 121A and declare it a blighted area to open up the possibility of generous tax credits to a housing developer. While tax breaks are controversial and should be used judiciously, the troubled district needs them.

With the addition of as many as 1,000 apartments at the Filene?s site? plus another 650 units coming soon between the planned Kensington development near Chinatown and Hayward Place ? thousands of new residents would fill the streets, attract a supermarket and breathe life into downtown all the time, every day.

JERRY KRONENBERG

It?s time for Times Sq. lite

I?m thinking Times Square ? without the billboards.

Imagine a Downtown Crossing that pulses with life ?round the clock, attracting tourists during the day, office workers at lunch and everyone at night.

Start by replacing DX?s current drab buildings with four- or five-story structures bursting with shops and eateries on the lower floors and a mix of condos and apartments above.

Not just any stores and dining spots, but classy shops, bars and restaurants that would stay open late and cater to 20- and 30-somethings.

But the most important ingredient would be cool evening attractions aimed at young professionals ? places that sell booze, but involve more than just sitting around and drinking. Think Kings, the upscale pub and bowling alley at Dedham?s Legacy Place.

Whip it all together and you?d get a hip urban playground ? one that would attract a slew of young brainiacs for Boston?s ?knowledge? economy.
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Article URL: http://www.bostonherald.com/business/real_estate/view.bg?articleid=1345323
 
Re: Filene's

Imagine a high-rise crack den and shooting gallery.

The mayor would never have to worry about attracting people to the shopping district again.
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How about just making DTX a real neighborhood with real people living there? Stop the trying to hold on to this old notion that DTX should be some inter-regional shopping mecca. It will never be that again. It cannot compete with suburban (or urban, aka South Bay) big-box stores and malls. Look towards the Back Bay as a model, which has been eating DTX's lunch now for a decade. Make downtown a real place and not a "destination". This means getting lots of people living there. And not just college kids.
 
Re: Filene's

Let's turn it into Times Square... only with no billboards... and all four-storey buildings... and all classy shops and restaurants!

Just like Times Square it will have, well, buildings. Also there is a street!
 
Re: Filene's

I didn't know that like Times Sq, DTX has 24 hour subway service and 8 different subway lines. All we need now is those classy places!
 
Re: Filene's

Justin7 said:
Let's turn it into Times Square... only with no billboards... and all four-storey buildings... and all classy shops and restaurants!

Just like Times Square it will have, well, buildings. Also there is a street!
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This guy here.
 
Re: Filene's

You don't have to read this Q&A with Stephen Ross of the Related Companies, but he talks about the Hudson Yards project that will start with 4 million square feet of space, mostly offices but some residential and a hotel. On the west side of Manhattan, this will basically create a new NY neighborhood.

In a way, it's what is happening in DTX, although in a much-more dense, existing neighborhood. I wonder if the same type of proposal could help save DTX.

Stephen M Ross
Square Feet - The New York Times

Mr. Ross, 71, is the chairman, chief executive and founder of the Related Companies in New York, which is best known for the Time Warner Center. Among the company’s latest projects is the development of the 26-acre Hudson Yards.

Mr. Ross is also the chairman of the fitness-club operator Equinox Holdings and the majority owner of the Miami Dolphins National Football League franchise.

Q Are we embarking on another building boom in the city?

A There isn’t going to be a huge boom, because real estate is really a function of jobs. Now I think we’re gaining back a lot of the jobs we might have lost. And I think people are optimistic, especially developers, but I don’t think you’re going to find as much financing available.

Going forward, you’re going to see a lot of consolidation of corporate offices and demand for new space. I think there’s going to be a fair amount of construction in the city, particularly downtown and in Hudson Yards. And more specifically — Hudson Yards!

Q O.K., so let’s talk about the Hudson Yards development. Any tenants locked in yet?

A We’re speaking to nine tenants — for office space — each of whom is looking at over a million square feet. I’d really rather not say who they are. In our first phase, which is roughly four and a half million square feet of office space, I think we’ll be able to announce signed deals for three million square feet by the end of the year, and start construction next year. There will also be 750,000 to a million square feet of retail, and the balance will be residential and a small hotel.

Q Have you secured financing?

A We haven’t set up who are going to be the construction lenders yet. You can’t really talk to them until you have something to propose to them. In today’s market you have to really prelease. You’re not going to be able to finance a lot of “spec” space.

Q You do have a partner, the Ontario employees pension plan. How much is it investing?

A They’ve made a commitment for $475 million. They have a lot of experience through the subsidiary Oxford Properties. But we’re taking the lead and we have the majority of the project; we’re over 60 percent.

Q Any concerns about Brookfield Office Properties’ proposed office tower a few blocks from Hudson Yards ?

A I don’t think it’ll have a major impact. They’re on Ninth Avenue, where there’s virtually no development around it. We’re creating our own environment. We have a large mixed-use project and we’re looking to create a critical mass. We’re also offering a better value, from the standpoint that we have a 20-year real estate tax abatement.

The tenants could own or lease. We’re prepared to sell very close to cost, because we have all this residential square footage that we’ll look to make most of our money from.

Q You’re basically creating a neighborhood.

A Yes. I think every good developer, in the back of their minds, wants to transform and leave a legacy. Time Warner Centers certainly transformed the whole West Side. As a developer, it’s a great feeling knowing you have made an impact. There’s also a lot of responsibility that goes with that: you have to really put the city’s needs first. It’s not all about making money. And that’s why the city — knowing what creating a neighborhood means for its growth — has offered a tax abatement to tenants taking the first five million square feet.

Q Let’s talk about MiMA, your new mixed-use building.

A We’ve rented close to 200 of the 500 market-rate units at over $75 a square foot. The rentals were built under the 80/20 program, so there are also affordable units. We’ll start selling the condos next month. We haven’t priced them yet. The project has been well received because of the amenity package that includes a private Equinox club, an outdoor movie theater and a dog run.

Q What’s the status of the Hunters Point South middle-income housing project in Queens?

A The city now is really doing the work, putting it in a position where we could start it next year. It’s really the first project that’s going to be addressing the work-force-housing needs of the city. I started out in affordable housing.

Q And you started out professionally as a tax lawyer.

A I did some restructuring of deals for real estate clients. I enjoyed what they were doing more than what I was doing.

Q Do you still live at the Time Warner Center?

A I’m the president of the condo board.

Q What do you hope to be known for years from now?

A How we made cities better, transformed neighborhoods, and built a great company that’s known for doing quality work.
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http://www.nytimes.com/2011/06/19/realestate/stephen-m-ross.html
 
Re: Filene's

I'm looking for quotes, proverbs, etc which really represent the current state of the Filene's site. Any ideas? You can even make up your own. I'm looking for something that makes a pretty powerful statement.
 
Re: Filene's

BostonUrbEx said:
I'm looking for quotes, proverbs, etc which really represent the current state of the Filene's site. Any ideas? You can even make up your own. I'm looking for something that makes a pretty powerful statement.
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It is a classic example of making nothing out of something.
 
Re: Filene's

Mayor Menino: N.Y. developer ‘scurrilous’
Fed-up mayor says Vornado’s not fit to be in real estate business
By Thomas Grillo
Thursday, July 14, 2011


Hub Mayor Thomas M. Menino yesterday launched his fiercest attack yet on the failed New York developers of the former Filene’s site in Downtown Crossing.

“They are a scurrilous group that should not be in the real estate business,” said Menino, referring to Vornado Realty Trust, which halted construction at the former Washington Street landmark in 2008. “They want $165 million for that location when the market says it’s not worth it. They’re trying to play Russian roulette with us, we don’t play Russian roulette.”

Menino made his remarks following an address to the International Council of Shopping Centers, a global trade association, where he touted Boston as the great place for retailers.

He told the packed crowd at the Hynes Convention Center that a third of Boston’s population is between 20 and 34 years old, a prized demographic for employers who need an educated work force and for retailers searching for spending power. The mayor bragged that Boston’s population has grown faster in the last 10 years than New York, Philadelphia, Chicago and San Francisco.

Menino added that construction of Hayward Place, a $200 million residential project in Downtown Crossing scheduled to break ground in two weeks across from the Paramount Theater, will bring 243 units of housing and more vibrancy to the retail district.

“Millennium Partners, the Hayward Place developers, which is also out of New York, sees potential in Downtown Crossing, while Vornado does not and it’s unfortunate,” Menino told the Herald.

Vornado did not return a call seeking comment.

Last year, Menino fired off a letter to Vornado Chairman Steven Roth after the mayor learned Roth told a New York audience that he purposely left a former Alexander’s store in Manhattan vacant and blighted because “the more the government would want this redeveloped, the more help they would give us when the time came.”

Menino encouraged yesterday’s convention attendees to check out retail space in Downtown Crossing, including the soon-to-be-closing Borders bookstore on School Street.

“It’s a fabulous location to put your business,” he said. “The opportunities are endless. It could be a flagship location for an international retailer or a multi-level restaurant.”


Link
 
Re: Filene's

Did the Mayor brag about how cities like Seattle, Portland, and Miami have grown faster than Boston in the past 10 years?
 
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Re: Filene's

Did he brag that most of our growth has been tax exempt, and that which isn't has been receiving tax breaks? Did he brag about poaching businesses from as far away as Cambridge? Did he brag that a mentally retarded person has somehow managed to keep his hold on Mayor of Boston for 20 years?
 
Re: Filene's

"He told the packed crowd at the Hynes Convention Center that a third of Boston’s population is between 20 and 34 years old, a prized demographic for employers who need an educated work force and for retailers searching for spending power. The mayor bragged that Boston’s population has grown faster in the last 10 years than New York, Philadelphia, Chicago and San Francisco."

This a good indicator -- while a lot o us are no longer in that demographic -- a lot of innovation comes from that one

By the way - though I can't place the reference -- Boston / Cambridge has lept ahead of Austin as the capital of college / post college age demographic

AND We have the CUP!!! -- which Austin will never have
 
Re: Filene's

A bit off topic -- but if you want to feel the pulse of innovation at work

Stand on the Broad Canal in Cambridge at the Bridge and look west

One or two good-size towerettes (think Vertex) in the middle of Cambridge Center / Kendal / MIT area along Main St. would sure look great -- I think that the addition to the Broad (Institute not Canal) will be 12 to 15 stories

By the way -- think of the transition / tranmutation in one word --Broad -- from Broad Canal (heavy industry) to Broad Institute (Heavy Knowledge Industry) -- in just a few generations
 
Re: Filene's

The change in demographics of Boston during the past decade might be a bit more complicated than the Mayor let on.

According to preliminary US Census Bureau numbers, total population rose 4.8% between 2000 and 2010, from 589,141 to 617,594, or about 28,000 people.

Under 5 stayed about the same, ages 5-14 (public school aged) dropped by ~13,000 while 15-19 (public school aged, first year of college) rose by ~6,000.

Ages 20-24 (college-aged) rose by ~18,000, 25-34 (college-aged, young professional) rose by ~3,300 while 35-44 (professional) dropped by ~9,000.

Ages 45-64 (boomers) rose by 22,000. Old people stayed constant.

My take is, people well into their careers moved into the city during the past decade. Middle-income, middle-aged people with children moved out. College-aged people moved into the city due to colleges increasing enrollment levels (most schools except Northeastern).

Sorry for the page width.

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Full-sized image: http://twitpic.com/5rew4k

** Unfortunately, 2000 Census didn't break down age groups as finely as in 2010. For example, 25-34 is broken in two in 2010, 25-29, 30-34, but only 25-34 in 2000. So, we can't see where the change actually occurred during the decade.
 
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Re: Filene's

I'm glad we're cutting education when the number of school aged children increases....
 
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