Winthrop Center | 115 Winthrop Square | Financial District

Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

I wonder if the city was about to put this property out to bid again, prompting Belkin to react?
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

tmac9wr said:
Probably the best move. I have a disease...I am addicted to seeing the train wreck that is the comment section of any site I go to. Doesn't matter if it's the Globe, YouTube, etc. It's terrible.
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Get one of these and you can hide the comments. You'll feel better.

https://addons.mozilla.org/en-US/firefox/addon/stylish/
https://chrome.google.com/webstore/detail/stylish/fjnbnpbmkenffdnngjfgmeleoegfcffe?hl=en
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

Justin7 said:
Get one of these and you can hide the comments. You'll feel better.

https://addons.mozilla.org/en-US/firefox/addon/stylish/
https://chrome.google.com/webstore/detail/stylish/fjnbnpbmkenffdnngjfgmeleoegfcffe?hl=en
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That's the problem...I seek them out. I know I shouldn't...but I do it anyway. I'm addicted to the horribly idiotic/hateful/racist/sad comments made by people on the internet.
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

I know that Belkin won the rights by default because he was the only one that responded to the RFP. So, I've been trying to see what (if any) legal rights Belkin has to develop the site, and I think I found my answer in an old BBJ article.

Belkin, who has never built a commercial office tower but owns the building next to where the structure would be built, has yet to file any official design plans with the BRA. The BRA's Paul McCann has said the city will not enter into a project agreement with Belkin until the agency is assured the tower is proceeding, saying in September, "I just don't want to burden the site before it needs to be."
In his response to the city's call for proposals in November 2006, Belkin -- an entrepreneur and founder of Trans National Group -- estimated he would acquire the needed land from the city last summer. Belkin also has not been tentatively designated by the BRA, which is what McCann in September called the "first base" in getting the project started.
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So it would appear that Belkin doesn't own the rights to develop the land. That being said, would it make sense/be worth while to open this up to other developers in a reissued RFP? Certainly, it would be nice to see something going on in this site ASAP, and Belkin's new rendering is promising, but wouldn't a little competition be a good thing for the city? I think we'd end up with a better product in the end.
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

bobthebuilder said:
I know that Belkin won the rights by default because he was the only one that responded to the RFP. So, I've been trying to see what (if any) legal rights Belkin has to develop the site, and I think I found my answer in an old BBJ article.



So it would appear that Belkin doesn't own the rights to develop the land. That being said, would it make sense/be worth while to open this up to other developers in a reissued RFP? Certainly, it would be nice to see something going on in this site ASAP, and Belkin's new rendering is promising, but wouldn't a little competition be a good thing for the city? I think we'd end up with a better product in the end.
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Yea, I think it would certainly be for the best to put this out to a competition. Back when this originally out to bid the plot was too small for the desired 1,000+ footer without owning that adjacent lot. Nobody had any interest in bidding for the lot because it was clear cut that Belkin had a major advantage.

Fast forward to today and not only do you see a proposal which is limited to the development of the garage only, but also a white-hot development environment here in the city. This would almost certainly get multiple bids, not unlike the Congress Street Garage proposal.
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

I dont think this city will ever get a 1000 ft tower unless Boston Properties builds one at Back Bay station
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

Boston02124 said:
I dont think this city will ever get a 1000 ft tower unless Boston Properties builds one at Back Bay station
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I think we'll see one eventually, and I can't wait for that day. For now, I'd settle for a new tallest, just something to break the ceiling open. Give me something coming in just north of 800' and I think that would open things up a bit.

As for this spot, looking at the massport airspace map, Belkin's new rendering is right in line with the maximum allowable, would be allowed by the FAA. Of course this map isn't the end all be all for determining what's allowable, but I think its a good general guideline, and in this area, 740' would be great, a nice little peak to downtown.
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

Dear Steve Belkin,

Please go away. Better yet, take a permanent TNT Vacation.
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

globe article today on office space has both Putnam and BNY Mellon looking for office space. Perhaps these are the potential anchor tenents he is in talks with?
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

palindrome said:
globe article today on office space has both Putnam and BNY Mellon looking for office space. Perhaps these are the potential anchor tenents he is in talks with?
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BNY Mellon wants to leave One Boston Place?
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

There was an article a while back about Putnam growing and having a lease expiring. They could be solid candidate. They definitely have the money
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

Understanding it's pure speculation, this would perfect timing for a perfect tenant:

http://blogs.marketwatch.com/thetell/2014/08/20/bank-of-america-may-relocate-hq-to-boston-bove/

"Bank of America Corp. may move its headquarters from Charlotte, N.C. to the Boston area in the next five years as part of a broader strategic change, according to banking analyst Dick Bove on Wednesday...'First in past periods, Bank of America’s leadership team was solidly based in Charlotte. No matter how many acquisitions the company made nor how many changes in its name, this bank was run by a solid core of North Carolina National Bank executives – the so-called North Caroline mafia,” said Bove. “Now top executives are coming from FleetBoston.'"
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

Toonie29 said:
Understanding it's pure speculation, this would perfect timing for a perfect tenant:
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I'd be surprised if they uprooted from Charlotte, but would be a great win for the city and region if they did.
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

I think BOA would want a bigger tower than this. Given the time scale, and scope of development, I they they would be a better fit at the Back Bay garage tower.
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

Scalziand said:
I think BOA would want a bigger tower than this. Given the time scale, and scope of development, I they they would be a better fit at the Back Bay garage tower.
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Remember that they wouldn't necessarily vacate the tower they already occupy across the street. This site is also in the Financial District, which as its name implies is home to far more of their peer institutions than the Back Bay.

I think that if Belkin had any idea that BOA was interested, he wouldn't have suggested a mixed-use tower. I also think that BOA will not have an iota of interest in renting a building from a small-timer like Belkin. It will want to own and build itself, which means that Walsh should be kicking the tires on selling the site to them before making any commitment to Belkin.
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

Toonie29 said:
Understanding it's pure speculation, this would perfect timing for a perfect tenant:

http://blogs.marketwatch.com/thetell/2014/08/20/bank-of-america-may-relocate-hq-to-boston-bove/

"Bank of America Corp. may move its headquarters from Charlotte, N.C. to the Boston area in the next five years as part of a broader strategic change, according to banking analyst Dick Bove on Wednesday...'First in past periods, Bank of America’s leadership team was solidly based in Charlotte. No matter how many acquisitions the company made nor how many changes in its name, this bank was run by a solid core of North Carolina National Bank executives – the so-called North Caroline mafia,” said Bove. “Now top executives are coming from FleetBoston.'"
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Wow, that would be something else...both from a development and economic standpoint.
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

Equilibria said:
Remember that they wouldn't necessarily vacate the tower they already occupy across the street. This site is also in the Financial District, which as its name implies is home to far more of their peer institutions than the Back Bay.
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I think for the most part that's accurate. There are tons of financial institutions all over the city, but I think Back Bay is more popular with private equity. I remember when I worked in the Hancock and it seemed like every floor was occupied by a different PE firm.
 
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Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

That is huge news
 
Re: 111 Federal St. | Formerly Trans National Place (Winthrop Square) Part 2

palindrome said:
globe article today on office space has both Putnam and BNY Mellon looking for office space. Perhaps these are the potential anchor tenents he is in talks with?
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It's too bad Putnam's current HQ (the building) could not be imploded and replaced with something better.
 
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