The Midtown Hotel

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JSic

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Why is it still there? How has it survived multiple waves of redevelopment? Any chance it could be redeveloped soon?

hotel-outlook.jpg
 
DBM said:
At least 750 words from the Globe here, from just a year ago, that should pretty much answer all your questions?
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Not really :) It overall suggests the Midtown Hotel is a fantastic (mainly meaning "cheap") place, beloved of its guests and its owner. But nobody explicitly says, "For the love of George Jetson, let's never redevelop this wonderful motel - even though it'd be fit to be redeveloped in far less valuable patches of real estate, never mind the middle of Boston."

And I'd imagine Druker would redevelop in a heartbeat to maximize his profit. Very curious why he's waited so long - what's he holding out for?
 
itchy said:
Very curious why he's waited so long - what's he holding out for?
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Actually, as long as he also owns the Colonnade, which is essentially next-door (actually just 100 yards away, and split by only one other property), why on earth would he ever want to redevelop it?

Doesn't basic economic theory say that the moment he redevelops it, it becomes competition for the Colonnade, and starts cannibalizing business from himself?

If he leaves it as his, then his Huntington Ave hotel portfolio stays diverse/segmented across market tiers. Isn't that ideal?

NOTE: I only just remembered that the Midtown is also just yards from the Back Bay Hilton and the Sheraton.

In such a robust hotel market, why would anyone to give up the enviable niche of anchoring the cheapest, no-frills end of the spectrum?
 
Arent there brownstones right behind it? I dont think those neighbors are going to go for some mega development
 
DBM said:
In such a robust hotel market, why would anyone to give up the enviable niche of anchoring the cheapest, no-frills end of the spectrum?
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Because it means leaving money (in the form of price you don't take) on the table. If it's such a robust hotel market, you're not worried about getting rooms filled.
 
B&T has a National Development proposal for 325 units in a 10-story building (I refuse to call it a "tower" as they do).
 
cjbski said:
Globe article: https://www.bostonglobe.com/2020/08...midtown-hotel-make-way-an-apartment-building/
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From the article:

" But the move is another show of long-term confidence in Boston’s housing market from a veteran local developer. While development proposals basically stopped for several months at the start of the pandemic, a growing number have landed at the BPDA in recent weeks, a sign that developers believe that by the time these buildings open — probably at least three years from now in the Midtown project’s case — the demand for places to live and work in Boston’s core will have recovered. "

Any further questions from the "urban living will not survive the migration out due to the pandemic" crowd?
 
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