South Boston Infill and Small Developments

Re: South Boston Development

TheRifleman said:
More wasted money on companies that should probably be bankrupt.

Just make sure the downtown businesses which have a 16% Vacancy that they continue make those BID payments so we can continue to give taxbreaks for my friends who bought all the land in the Seaport District. THE MAYOR IS A HYPOCRITE and CORRUPT FOOL. This is why the entire Seaport Development will be the biggest pump & dump in development history.,,,
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Riff -- yo' drop the blunderbuss and step away from the pier

The article mentioned a road connecting Gillete to the haul road
The project includes a 970-space parking garage, two parks and a new street connecting Gillette headquarters to the Bypass Road, a key truck route.
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-- is that the case of a company that:
a) is should have gone bankrupt
b) is engaged in pump and dump
c) Chinese style central planning
d) other than the above

The answer is d) -- Gillete and now P&G/Gillette has been manufacturing razors and investing in the state of the art of manufacturing technology for decades -- how is improving access to the transportation network for a major employer a detriment?
 
Re: South Boston Development

Seaport this is not - but the Broadway T area is primed to explode with this new development. Worth tax dollars? It could be argued both ways.
 
Re: South Boston Development

atlantaden said:
I don't know, I guess I just see this differently! The city makes an investment of $11.5 million spread out over 15 years ($766,000 plus change) to gain a $225 million investment in the city! State Street still pays $46 million ($2.88 million per year) in property taxes over 15 years plus the city gains jobs created, new businesses in the neighborhood that are created or expanded, the new workers, visitors, residents now spending money in the neighborhood, etc...all paying a variety of taxes.
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Who ever said State Street was moving out of Boston? Maybe they could have rented some of the buildings in the Downtown area facing 20% vacancy in the Financial district and are paying into BID.

*Do you ever wonder why everything is so expensive especially with residential tax increases over the last 4 years.
This is not a City investment. This is enriching "Richard Galvin, president of owner Commonwealth Ventures" Another deadbeat businessman looking to suck on the tits of the taxpayers.
Wonder how fast he will sell this building once its occupied by State Street.

Conclusion on STATE STREET BANK:
This is a failed business model that should be bankrupt and continues to expand on the back of the taxpayers through TARP programs & zero percent interest rates though the Federal Reserve, . When was the last time you received interest on your savings?

Also State Street is under investigation for Pension Fraud.
The Taxpayers bailing out the big banks so they can rip off the Municipality pensions so they can give their upper management big bonuses then our political hacks give these corrupt organizations tax breaks to build their empires. Sounds like the American people have become suckers.

http://finance.yahoo.com/blogs/dail...anks-ripping-off-pension-funds-152836936.html


Don't worry this creates jobs.



ParkerChris said:
Seaport this is not - but the Broadway T area is primed to explode with this new development. Worth tax dollars? It could be argued both ways.
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If Broadway was so primed to explode then why is the BRA giving taxpayers money to develop such a prime spot.

Conclusion on the BRA.....They are officially not a planning organization. They are an organization of stupidity & corruption. I guess that is the DNA of Boston Development Process. A bunch of political favors that really have no interst in bettering the city and its people.
 
Re: South Boston Development

TheRifleman said:
Who ever said State Street was moving out of Boston?

....Conclusion on STATE STREET BANK:
This is a failed business model that should be bankrupt and continues to expand on the back of the taxpayers through TARP programs & zero percent interest rates though the Federal Reserve, . When was the last time you received interest on your savings?
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Riff -- you are now loading bird shot into a cannon with a short barrel -- the stuff is flying everywhere but at the target

Have you any idea of the current business of the former State Street Bank?

For example, have you noticed that there are no longer any branch banking offices?

They are no longer a bank that takes my savings deposits, loans you money for your laudromat business and makes money on the interest spread.

State Street Corporations's business model is essentially to opperate a massive real-time database that manages the book entries of many Trillons of $ of investments in pensions, mutual funds, endowments, etc.

They aren't involved in not paying you anything on your pass book savings account
 
Re: South Boston Development

whighlander said:
Riff -- yo' drop the blunderbuss and step away from the pier

The article mentioned a road connecting Gillete to the haul road


-- is that the case of a company that:
a) is should have gone bankrupt
b) is engaged in pump and dump
c) Chinese style central planning
d) other than the above

The answer is d) -- Gillete and now P&G/Gillette has been manufacturing razors and investing in the state of the art of manufacturing technology for decades -- how is improving access to the transportation network for a major employer a detriment?
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Whigh
My point is on
How I view Long-term investments with Development and planning.
Do you really believe all these developers getting taxbreaks are looking out for the LONG-TERM for Boston's Development of the SEAPORT DISTRICT?

Taxpayer incentives leads to
#1 Quick Buck Artists---
#2 Cheap Materials---
#3 Squeezing Margins on everything.
#4 End product is SHIT.
Pump & Dump Developments: NO REAL LONG-TERM INVESTORS for these SITEs

This leads to very Bad business.
There is really no incentive to actually create something unique or add real value for the area to entice your tenant.
Investors & developers need to put up their own personal stake in this process so the game is not so rigged.

This leads to pump & dump investments. Cash flow is key so they would be looking to just make the score and run. (See Fan Pier Development)



whighlander said:
massive real-time database that manages the book entries of many Trillons of $ of investments in pensions, mutual funds, endowments, etc.

They aren't involved in not paying you anything on your pass book savings account
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I'm not talking about State Street --I'm talking about all the banks including State Street. Interest rates policy would give you sometype of return on your savings including in a mutual fund if your money was parked into a cash money market.
 
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Re: South Boston Development

TheRifleman said:
Who ever said State Street was moving out of Boston?
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umm, since you seem to have directed this question to me for some reason, I'll answer with "I don't know, haven't a clue!" Do you know? I just know that State Street Corp must have asked for a property tax break on moving much of their operations to Channel Center and they got it!
 
Re: South Boston Development

ParkerChris said:
Seaport this is not - but the Broadway T area is primed to explode with this new development.
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William's Tavern will finally be able to afford those long overdue renovations. And maybe update that jukebox.
 
Re: South Boston Development

atlantaden said:
umm, since you seem to have directed this question to me for some reason, I'll answer with "I don't know, haven't a clue!" Do you know? I just know that State Street Corp must have asked for a property tax break on moving much of their operations to Channel Center and they got it!
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I believe there was talk about them either expanding operations or relocating some to the redevloped Quincy Center that has been in the works.
 
Re: South Boston Development

atlantaden said:
umm, since you seem to have directed this question to me for some reason, I'll answer with "I don't know, haven't a clue!" Do you know? I just know that State Street Corp must have asked for a property tax break on moving much of their operations to Channel Center and they got it!
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All I'm saying is all the taxbreaks our politicans are giving these companies & private developers leads to
#1 higher residential taxes & other type programs like BID, Non-profit resid, Greenway taxes
#2 more govt employees to service areas that were never supported by real price market dynamics through (supply & demand)
#3 Keeps these political lifers in office
#4 Massachusetts is following the same political path as Michigan, California, Rhode Island, New Jersey and Illinois. All of these states are bankrupt because of Pensions, taxpayer givaways.
 
Re: South Boston Development

TheRifleman said:
If Broadway was so primed to explode then why is the BRA giving taxpayers money to develop such a prime spot.

Conclusion on the BRA.....They are officially not a planning organization. They are an organization of stupidity & corruption. I guess that is the DNA of Boston Development Process. A bunch of political favors that really have no interst in bettering the city and its people.
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What I was inferring to is that the State Street move has primed the area for explosion.. therefore putting the tax-break to good use. Yes, there is a ton of development already happening, but also a ton of empty retail which I see filling in with 4,000 State Street employee's down the street.

William's days are numbered.
 
Re: South Boston Development

TheRifleman said:
#1 higher residential taxes & other type programs like BID
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Clearly this is scientific law seeing as how we have 1 BID is town and it's unclear that corporate tax breaks had anything to do about it.
 
Re: South Boston Development

underground said:
Clearly this is scientific law seeing as how we have 1 BID is town and it's unclear that corporate tax breaks had anything to do about it.
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UG -- I'd say this is a clear case of the "science being settled" with respect to the causes of BIDs in Boston -- no doubt its the incrased CO2 concentration due to the guzzling of XL Cokes to cool off and the increased Methane emissions due to the XL beany burritos as the Mexicacan food trucks proliferate
 
Re: South Boston Development

Looks like Fallon is on the move. BRA has given him development rights to a 2 acre lot next between the pavilion and the HARPOON BREWERY. Don't exactly know where this lot is, but last week I noticed that the building east of the Parklane had been demolished and that part of the area was being used as valet parking for Legal Seafood.
Sorry I'm not able to drag over the article from this mornings Herald.
 
Re: South Boston Development

Eleven W. Broadway. Steel work completed. Hope to see some walls soon.

Eleven W. Broadway Boston 7/28

120 W. Broadway: The scaffold has been removed (after many years!!!). Still needs work on the ground floor entries and retail space.

395 W. Broadway (Trubune Tower Condos). They are up to the third floor. Wall is up along the second floor. Ground floor looks like it will be a large retail space. So far it looks very dull.

Coming Soons sign of the Foodies building. Working on grading the parking lot yesterday.

West Square. The site is a sea of wood and steel pilings. Still a lot of prep work needed before we see any foundation work.

77-89 Dresser Str. Big sign has been put up on this site (Townhouses For Sale). They are still doing some interior work and installing white goods.

350 W. Second. Work on the brick facing completed. They are still working on the interior.

360 W. Second. They are working on the second floor. Exterior walls are up.

600 E. Fourth: as you can see very good progress is being made. This will fit in with the neighborhood very nicely.

600 E. Fourth Str. S. Boston 7/28
537 E First. This is a new site. The foundation is in and ready for walls. This is a building with 9 condos.

Two new sites:
630 (?) E. Second. Old commercial building demolished. Earth mover on site.
Site at the corner of E. First and M strs. Two small earth movers on site which seem to have just started to move things around.
 
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Re: South Boston Development

I like the London-esque quality to 600 E Fourth Street.
 
Re: South Boston Development

Indeed; very handsome. A floor or two more and it would be perfect urban vernacular architecture.
 
Re: South Boston Development

Wow. How does the BCEC justify spending $6M per acre. Intercontinental bought the parcel for $4M per acre at the peak of the market.
 
Re: South Boston Development

AmericanFolkLegend said:
Wow. How does the BCEC justify spending $6M per acre. Intercontinental bought the parcel for $4M per acre at the peak of the market.
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This is what is going on. Innovation District is losing a ton of momentum especially realizing that the rents for downtown offices make more sense than building. Especially with Chiofaro Company who manages IP inking Paypal setting a new tone for the downtown buildings so they can attract the new innovation.

So the reality now is have the public fund a 300 Million dollar BCEC expansion with Hotels & Residences on the backs of the taxpayers and hopefully a couple of developers jump in and build something.

I think what really pushed the button is when somebody realized that Foxwoods & Mohegan are both on the brink of Bankruptcy so the E.Boston/Revere Casino will be on hold for a while so they needed something to keep the UNION hacks occupied for the next election.

Its all one big joke on the taxpayers. Just keep paying your bills.
 
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