WHAT?!?!? The BCEC bought this land for $6M per acre to build 500 hotel rooms and 1,350 parking spaces.
The previously approved plans called for 585 residential units. So we're bringing:
- Far fewer than half as many people to the area (figuring that the apartments would avg ~2 per unit and the hotels will rarely reach 100% occupancy).
- Nearly 3 parking spots for every hotel room. But at least the cars will have nice views since it's a multi-level above-ground garage.
- Fewer than 100 hotel rooms per acre. Keep in mind that the BCEC claims to need 2700 hotel rooms. So at this rate we're looking at over 30 acres of hotels. (For perspective Fan Pier is 21 acres and Seaport Square is 23).
- And it only cost taxpayers $33M (so far).
On what planet does this constitute being "on the right track."
Aside: I wrote this post despite being one of the few people who thinks the BCEC was a good move. But removing residential to add low-density hotels and above ground parking is absurd.