stick n move
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What if he knocked down half to open some space then govt garaged a tower on the other corner.
We may have to create the equivalent of a Godwin's Law for HT. I re-entered the debate because the ogres of CLF and Barr had migrated over to the HT project, but there is little point continuing to re-litigate in this thread a project that is now 12 years old and no further advanced than it was in 2007 when Chiofaro bought the garage for $153 million. The cost of burying the existing garage was stated by Chiofaro to be $180 million in 2014, and IIRC, that burying estimate was originally given by Ted Oatis, his late partner, several years before.
https://www.bostonherald.com/2014/0...-1b-two-tower-project-for-harbor-garage-site/
Rifleman & Rover, I leave it to you to figure how Chiofaro recovers a sunk cost of $335 million with a 900,000 square foot building. If that proves impossible, then I propose the garage be re-clad in brick, replicating the appearance of India Wharf which was on the site for many decades. Call the reclad garage a homage to Bulfinch.
That math definitely doesn't work for Chiafaro. However, IIRC the HT garage lease is up in the next couple of years and then everything changes for Chiafaro with no obligation to provide that $180M+ parking anymore.
Easy to see why he is probably in no hurry.
I am not going to get into hypothetical constructs for which there is no provision in law: i.e., conduct a ballot referendum before approving any major new development project in Boston.
However, I will again point out that the 50 percent open space requirement placed on this proposed development was imposed by the Commonwealth, --not by CLF, not by Barr, not by Amos Hostetter.
The assessed value is $37 million below the purchase price ten+ years ago. I'll let others opine on how close the assessed value of commercial property in downtown Boston comes to current market value.
I also think the 3rd proposal Rifleman put forward is the most likely to happen, and its an absolute disaster for the city, which is that he builds on top of the garage taking advantage of existing zoning and laughs his ass off all the way to the bank. If that happens that garage ain't never going away....
However, I will again point out that the 50 percent open space requirement placed on this proposed development was imposed by the Commonwealth, --not by CLF, not by Barr, not by Amos Hostetter. Under a predicate that representative democracy governs absolutely, this 50 percent spec represents Gov. Baker's decision, and there ought be no seeking an 'out' because one is unhappy with such a decision, in that it failed to consider x, y, or z.
As for the supposed appreciating value of the existing garage, the current assessment of that property is $115.9 million, $82 million of which represents the value of the 57,000+ sq ft of land. The assessed value is $37 million below the purchase price ten+ years ago. I'll let others opine on how close the assessed value of commercial property in downtown Boston comes to current market value.
So looking forward to this miniature tower rising.