Winthrop Center | 115 Winthrop Square | Financial District

stoweker said:
will literally take $50 side bets with anyone who PMs me that this thing won’t raise money. No equity OR debt in this environment pack it up boys it’s a goner.
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Assuming the project is dead, how much of Millennium's money does the city get to keep? Or perhaps a better question is how much will the city lose out of the total promised Millennium payments if the project does not get built?
 
stoweker said:
pack it up boys it’s a goner.
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For a "goner," it's sure showing remarkable signs of life--I have a friend who spotted cement trucks, hardhat workers, and a 2nd construction crane all working at the site, over the past week-plus.

If all that activity witnessed by my friend does not signal a full resumption of the project, then I don't know what does, even if there hasn't been a formal announcement by the developer (as far as I'm aware).

(Of course, none of this should be surprising--despite shrill assertions to the contrary on this forum--given that the developer essentially said it would resume in mid-September, as noted upthread by stefal.)
 
I was going to post something last Thursday evening because I was at a meeting around the corner from here during the day and I was pleasantly surprised that I saw at least 30 or so workers in hard hats doing their stuff. I definitely took that as a positive sign!
 
stoweker said:
hey how about that credit suisse leading a lender syndicate. ok maybe it is real then if they're having the city sign an estoppel. rescind my $50 offer and make it $10...

also for what it's worth just checked the registry they already paid the BRA $100mm on 9/28/2018 and took out a $100mm loan from HSBC to finance that purchase. someone filed an undischarged lien against them last december so i guess they've been funding whatever they've been doing out of equity. must have taken out a land loan for the purchase then figured they'd get the construction loan later. still have no idea if they have equity but i guess the estoppel makes the idea of a new loan a lot more real.

anyways i'll shut up about this being dead until hear otherwise.
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The syndicate of lenders has an address here.

47 Esplanade; St Helier; Jersey JE1 OBD | ICIJ Offshore Leaks Database

Paradise Papers - Appleby Address: 47 Esplanade; St Helier; Jersey JE1 OBD
offshoreleaks.icij.org offshoreleaks.icij.org
 
stoweker said:
that's just an office building with crestbridge & carey olson - crestbridge is a trust administrator - you hire them to manage & administer offshore fundlets, carey olson is an international law practice which does the same. it wouldn't be uncommon for anything to be domiciled there for tax structure purposes, has nothing to do with who's actually funding the money its just where their fund structure attorney / fund administrator is physically located.
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I hear they're more reputable than Mossack Fonesca...
 
stoweker said:
also for what it's worth just checked the registry they already paid the BRA $100mm on 9/28/2018
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So Millennium is already in for the $100 million paid to the city plus whatever they have spent to date on the foundation/underground work (including all legal, permitting etc.). I don't see how this doesn't get built considering how much has already been spent. Too big to fail. LOL.
 
FWIW...S&F Concrete posted an update on their Facebook page late last night showing what looks to be an updated picture of the work site and indicating (along with the rest of the projects in the city), they are playing a role in "changing the Boston skyline."

Seems like there is some smoke to this site restarting
 
Saw some concrete and crews on 9/25

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Massachoicetts said:
I am walking by the site now.

I can confirm as of 9/26/2020 at 9:49am there were lights on, crews walking around.. and some machinery was going. Looks decently active, especially for a Saturday. Pictures to come once I figure out how to upload them on.
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Too specific. Needs more wild accusations, rumor and innuendo.
 
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