South Station Tower | South Station Air Rights | Downtown

Today at the FMCB:

- Nearly all the pre-closing requirements are done.
- 3 sets of plans and agreements with Amtrak and FRA are complete.
- 2 items remain: agreements with an abutter and one more minor one with FRA.

Hynes needs to lock in equity and construction loan (they're very optimistic), but they can't do either of those things until the negotiations are done.

In summary: Hynes needs 8 more months to lock up their financing. They've offered a $750k payment (voluntary fine?) in return, and FMCB has approved. This is the same info BPDA got two weeks ago.

Of course... "we'll build it... if we can find the financing" is a chestnut we've learned to mistrust before.
 
Equilibria said:
Today at the FMCB:

- Nearly all the pre-closing requirements are done.
- 3 sets of plans and agreements with Amtrak and FRA are complete.
- 2 items remain: agreements with an abutter and one more minor one with FRA.

Hynes needs to lock in equity and construction loan (they're very optimistic), but they can't do either of those things until the negotiations are done.

In summary: Hynes needs 8 more months to lock up their financing. They've offered a $750k payment (voluntary fine?) in return, and FMCB has approved. This is the same info BPDA got two weeks ago.

Of course... "we'll build it... if we can find the financing" is a chestnut we've learned to mistrust before.
Click to expand...

Who is the abutter? Fidelity? The Postal Service?
 
The city should entice the developer with some tax incentives to offer the entire skyscraper for subsidize housing. This would help underprivileged or lower incomes citizens enjoy the city also.
 
^^
1. wtf/ overdosing on utopia?
2. haha (in my best Faye Dunaway voice)
3. not sure if serious. maybe you had a tough day.
4. Capitalism is cruel but socialism after it runs for a minute, is far crueler.
5. they do enjoy the city
a. see #4
b. they don't live in Pawtucket, Brockton, or ride in from Worcester.
6. heavy metals from old plumbing/unfiltered H2O?
7. does anyone really take Bernie Sanders + contingent of copy-cat frauds seriously?
i'm not allowed to ask, but i'm sipping Merlot and feeling naughty.
 
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The city could house the city employees at South-station condos which would keep them from commuting into the city.

It would be a win win for our society.
 
^^NO: build Tremont Crossing @the correct (full) height (re; Capitalism)..
crazy, i know
Your idea would be a prodigious waste of taxpayers' (the payers) resources.
(re; not your money to burn).
Tax the heavy freight (SST)
less moral psychosis + let Capitalism work its miracles (please).
 
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My issue with using prime downtown land for affordable housing is that you stifle badly needed tax revenue. You should be maxing out property values downtown and using those proceeds to build even more affordable housing than you would reap by granting subsidies to build over South Station.

Now before someone chimes in that I want to see all affordable housing confined to "the ghetto" wherever that is, no. But from Allston/Brighton to East Boston there's far better places and actual neighborhoods to build lower income residences.
 
^^exactly.... to do the most for the highest # of less wealthy;
w/ the tax windfall from SST rolled over to fund adding 10~12 floors on each Tremont Crossing Tower.........and the upper floors' high rents (@TC) funding the maximum # of affordable units located in the lower floors.

Why is this desirable at Tremont Crossing?
1. You're virtually creating land for a "Serenity-sized" midrise w/ a very high ratio of affordable units below what's going up (in any case).
2. The amenities/retail already going in at the site give high value to these residents.
 
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The South Station developer has not actually proposed what the actual use for the building is going to be.

Will it be Residential,Commercial or both?

Has an anchor tenant signed in this location?
 
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