Re: South Boston Development
^ not really the read i was getting on this. may have read into it so much. I think its a bit of a stretch to say the "innovation District" is slowing down. Which of the about 6 projects under or nearing construction gives you the impression of slower growth?
Also, the fact that new offices and rising rents in the ID are making people see new value downtown is also a great sign. It's that whole supply-demand thing- more office, lower price, more office wanted. If anything, paypal going to IP and the construction in the ID is a good sign of a healthy market.
The convention center buying the property is only another sign of the growth down there. More Buildings, more people, less open land means higher prices. The BCEC obviously wants to expand, and the necessity of that is debatable and not what I am even discussing. But since they do and its not yet final, they at least need to be able to go to the city and state and say we want to build this here. They would have a much harder argument to make if they didn't own it. And if they waited til it was green lighted to buy the land, I guarantee you Intercontinental would have got a lot more than $33 million.
^ not really the read i was getting on this. may have read into it so much. I think its a bit of a stretch to say the "innovation District" is slowing down. Which of the about 6 projects under or nearing construction gives you the impression of slower growth?
Also, the fact that new offices and rising rents in the ID are making people see new value downtown is also a great sign. It's that whole supply-demand thing- more office, lower price, more office wanted. If anything, paypal going to IP and the construction in the ID is a good sign of a healthy market.
The convention center buying the property is only another sign of the growth down there. More Buildings, more people, less open land means higher prices. The BCEC obviously wants to expand, and the necessity of that is debatable and not what I am even discussing. But since they do and its not yet final, they at least need to be able to go to the city and state and say we want to build this here. They would have a much harder argument to make if they didn't own it. And if they waited til it was green lighted to buy the land, I guarantee you Intercontinental would have got a lot more than $33 million.