The Hub on Causeway (née TD Garden Towers) | 80 Causeway Street | West End

JumboBuc said:
From the TD Garden website's original announcement:



(60k Star Market + 60k ArcLight + 64k Garden expansion space) / (210k retail/restaurant + 64k Garden expansion space + 175k sf creative office) = 41%

So, basically, nothing new has been leased since the original announcement.

If you don't included the Garden Expansion space then Star Market and ArcLight make up 31% of retail/restaurant + office. Then you'd only need 40k new sf to make 42%. That's not very much...
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Wasnt there some rumor that Boston Nightlife Ventures would be opening some sort of lounge/restaurant concept here as well?
 
dshoost88 said:
No, they shouldn't. With literally millions of square feet of new office inventory approved and ready to break ground soon (if they haven't already), it would be foolish for more than one office project to build on spec. Unless these 600-footers all-of-a-sudden get laboratory capabilities, too much spec office space could harm the market.
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Too much space is a good thing for everyone except for investors in office properties. I say harm away.
 
I seriously hope some of you folks do not actually own or operate businesses.
 
meddlepal said:
I seriously hope some of you folks do not actually own or operate businesses.
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???

What's good for specific businesses is not always what's good for overall welfare. Overbuilding at this site could very well be a bad decision for Delaware North and Boston Properties (i.e., "investors in office properties"). But it would be a good thing for the bigger picture economy and for overall social welfare.

For their own sake they probably shouldn't build on spec (it's a gamble that could or couldn't pay off). But for all of ours they absolutely should.

But this is all for another thread...
 
JumboBuc said:
Rumor is that they'll go straight into Phase II once Phase I is complete next year, so timing wise it makes little difference.
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More than a rumor. Boston Properties officials have said so publicly. And the hotel going in - the Dutch micro-hotel chain citizenM - has been reported. According to the citizenM website, Boston's North Station is part of its committed portfolio with a 269-room hotel. The only citizenM hotel currently open in the US is in Times Square.
 
JumboBuc said:
Rumor is that they'll go straight into Phase II once Phase I is complete next year, so timing wise it makes little difference.
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Probably right, but more of an observation on the phase being tied to two different market demands. They have separate residential lobbies and hotel lobbies planned and it appears that the hotel massing will be (or could be) somewhat separate from the residential tower.

Seems they could get investor's to sign off on the hotel part of the tower based on existing studies of market demand which show a shortage of hotel space in Boston. Where the luxury residential market is a different market... which yes is also very healthy right now.
 
odurandina said:
They should build the office tower on spec.

Build it and they will come.
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JumboBuc said:
Too much space is a good thing for everyone except for investors in office properties. I say harm away.
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Building too much on spec will hurt odurandina's goals of seeing lots of stuff built. Too much spec office space will spook investors and you'll see a drought of development for a decade plus.

Steady increases in office space at roughly the pace of demand actually does more office prices as it avoids the booms where construction prices skyrocket. High construction prices = high rent. More office construction in moderate times means more moderate rents and more consistent employment in the trades.
 
dwash59 said:
Building too much on spec will hurt odurandina's goals of seeing lots of stuff built. Too much spec office space will spook investors and you'll see a drought of development for a decade plus.
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If supply growth exceeds demand growth prices will fall. This will subsequently cause supply growth to decrease a bit over the medium run, but only until demand catches up again and prices return to their previous higher level. Basically, investors will only stay "spooked" until prices come back up. Then, supply growth will return. No future developments will be put off that wouldn't have been put off already.

Basically, the developments that won't be built because of the drop in prices are the same developments that were already built and caused the drop in prices. So in the end, total supply does not decrease.

dwash59 said:
Steady increases in office space at roughly the pace of demand actually does more office prices as it avoids the booms where construction prices skyrocket. High construction prices = high rent. More office construction in moderate times means more moderate rents and more consistent employment in the trades.
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Construction prices do not directly dictate rents. Rather, high construction prices keep supply low, and this low supply in turn keeps rent high. If construction prices are pushed higher by supply increasing, then there is no vehicle by which to pass this on to rent.
 
JumboBuc said:
From the TD Garden website's original announcement:



(60k Star Market + 60k ArcLight + 64k Garden expansion space) / (210k retail/restaurant + 64k Garden expansion space + 175k sf creative office) = 41%

So, basically, nothing new has been leased since the original announcement.

If you don't included the Garden Expansion space then Star Market and ArcLight make up 31% of retail/restaurant + office. Then you'd only need 40k new sf to make 42%. That's not very much...
Click to expand...

That is a nice catch! They actually reported that leasing went from 33% to 42% probably between q4 2016 and q1 2017 so that people would think there's more progress and they have momentum...sneaky
 
novacat said:
That is a nice catch! They actually reported that leasing went from 33% to 42% probably between q4 2016 and q1 2017 so that people would think there's more progress and they have momentum...sneaky
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I dunno if they were being sneaky or not... didn't they announce finding a tenant for the bowling alley/sports bar or something, or is it still only just inferred that they're going to have one?
 
^I'm almost certain that mockup's for the residential tower. It features the same black and white panels shown in renderings.
 
How long until the direct passage between the CR concourse and the GL/OL underground passage is open? (will it open as a tunnel through the construction site while "the building" is still being built?)
 
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