Raffles Boston (40 Trinity Place) | 426 Stuart Street | Back Bay

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gac108 said:
Damn you Copley Place Tower and the perfect way you would've filled that gap to the right of this!!!
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Totally agree but let’s blame Simon Properties, not the building itself which would have been glorious!

www.mcsal.com

Copley Place Tower — McNamara • Salvia

Market SectorsOwner/DeveloperArchitect(Designed, Not Built) Related Projects
www.mcsal.com www.mcsal.com
 
If they figured out a way to make the ventilation work, they would re-launch it as a lab project yesterday.
 
Nibbles O’Plenty said:
Probably not with today’s market conditions. Will probably be a very long time if it does.
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Thats the problem though, the air rights expire after 10 years. Were coming up on 6 years since it was shelved. The height was grandfathered in with the new shadow laws, but once it expires its impossible to build tall on the site ever again.

Thats why ppl were suggesting that simon should sell the air rights/development to someone else who can complete it, because they dont have time on their side to go back and try again later on down the line. The thinking is if they sold it they actually get something out of it vs absolutely nothing as it stands now. You would think they could make many millions of dollars by selling the rights to the last copley sq parcel left capable of going over 600’ of residential.

Its pretty weird that theyre just going to sit on it until it expires and get nothing out of it, but who knows maybe they were told behind closed doors that the grandfather clause is void if transferred. Nobody knows but time is running out and pretty soon its going to be completely dead with no chance of ever coming back. Sucks.
 
stick n move said:
Thats the problem though, the air rights expire after 10 years. Were coming up on 6 years since it was shelved. The height was grandfathered in with the new shadow laws, but once it expires its impossible to build tall on the site ever again.

Thats why ppl were suggesting that simon should sell the air rights/development to someone else who can complete it, because they dont have time on their side to go back and try again later on down the line. The thinking is if they sold it they actually get something out of it vs absolutely nothing as it stands now. You would think they could make many millions of dollars by selling the rights to the last copley sq parcel left capable of going over 600’ of residential.

Its pretty weird that theyre just going to sit on it until it expires and get nothing out of it, but who knows maybe they were told behind closed doors that the grandfather clause is void if transferred. Nobody knows but time is running out and pretty soon its going to be completely dead with no chance of ever coming back. Sucks.
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There's still hope.

Simon Property Group (NYSE:SPG) reported Q4 earnings on Monday, with the retail REIT beating on both top and bottom line estimates.

SPG reported revenue of $1.33B for Q4, vs. estimates of $1.25B, and earnings per share of $1.53, vs. estimates of $1.48. The company also reported funds from operations of $3.09/share, a 42% increase from last year.

"I am extremely pleased with our fourth quarter results, concluding a very productive year,” said David Simon, Chairman, Chief Executive Officer and President. “In 2021, we generated record annual Funds From Operations (FFO) of nearly $4.5 billion and returned approximately $2.7 billion to shareholders."

SPG's guidance for 2022 included net income of $5.90-$6.10 / share and FFO of $11.50-$11.70 / share. The FFO guidance comes in under analyst estimates of $11.78/share.
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ttps://www.investing.com/news/stock...,approximately $2.7 billion to shareholders."

Simon Property Group (NYSE:SPG) is one of those REITs that is clearly winning at the company level. Balance sheet, liquidity, earnings power (FFO/share), and valuation are all stellar and make it a compelling investment at today’s price.
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https://seekingalpha.com/article/4474038-simon-property-brick-mortar-beating-ecommerce
 
gac108 said:
What a great angle/shot this last photo is! Once Raffles, One Congress, and if it were stretched a little more to the right, Winthrop Square, are complete, this could be my favorite skyline angle showing all of the tallest buildings.
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See the last pic here for a fuller angle, although it's still missing The Fed and 1 Financial off to the right.

Boston Skyline Photos

1/28 IMG_7927 by David Z, on Flickr
archboston.com

The view is from Larz Anderson Park in Brookline. Drive to the very top and there's a small parking lot, and you'll somewhat see the view already from there. Then walk out across the grassy hill until you get the best angle(s) that you can. It's tough to see entirely between the trees but you can at least get the majority of the skyline at once, and the rest piecemeal by moving to different spots.
 
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