North Station Gateway | 251 Causeway St | Bulfinch Triangle

[DZH22]

I'm going to be so pissed if this gets shortened even more just because of anti-urban NIMBYs and overly restrictive zoning. They already reduced it from 700 feet to 447 feet, do we really need to go even shorter here?

447' + the mechanical crown so should be pushing 500' based on the latest iteration.

 

[stellarfun]

From the Globe article, this is more likely to constrain height than any NIMBY.

As a real estate asset management company, RMR operates as the umbrella over a variety of real estate investment trusts, and through them has held 251 Causeway since 1995. This fall, the unit that owns the building said it faced “substantial doubt” about its ability to survive as a company if it couldn’t refinance $457 million in debt. Ultimately, it did refinance some of that debt, but the episode highlights the fragile financing markets for big city commercial real estate in the wake of the COVID-19 pandemic.

RMR manages $41 billion in assets, and Abair said he was confident the firm’s platform and relationships will give access to a wide range of capital sources.

As I read this, RMR has little in the way of equity assets to help secure financing.

IMO, Office Properties Income Trust, the owner of the property seems headed toward a liquidating bankruptcy.
See the graph:
https://finance.yahoo.com/quote/OPI/