Tag Archives: Winthrop Square Garage

0 Winthrop Square Site Mulls Offers

Posted on by
Winthrop Square project rendering

Credit: Boston Herald

Winthrop Square site moves $50M to $150M closer to having a new owner. The devil is in the details, but the blighted garage has to go.

According to the Boston Herald, “the six teams vying to redevelop Boston’s Winthrop Square garage site have made offers to buy the property that are as varied as their development proposals for the city-owned Financial District parcel, which could land one of the city’s tallest towers at 750 feet…Offers ranged from $50 million by Boston’s Accordia Partners to $150.8 million by New York’s Millennium Partners…The city will choose between selling the approximately 1-acre site or signing a long-term ground lease with the chosen developer. If it opts for a lease, the offers would be a starting point for negotiations, according to the Boston Redevelopment Authority.”

The full Herald article is available on its website: BostonHerald.com

0 Winthrop Square Garage Project Faces Another Obstacle

Posted on by
Winthrop Square garage site

Credit: Boston Globe

The shuttered garage of Winthrop Square faces another hurdle in the quest for redevelopment.

According to the Boston Globe, “Shirley Kressel, filed [a] complaint Jan. 4 with the state attorney general [alleging] the city and its legal department have repeatedly violated municipal law in an effort to transfer the parking garage to the Boston Redevelopment Authority…Kressel is trying to block the transfer of the garage to the redevelopment authority because she fears the proceeds from the sale of taxpayer-owned land will go to the quasi-public agency. City councilors had an agreement with the redevelopment authority stipulating that the money would go into city coffers.”

You can read more on the latest hurdle facing the Winthrop Square redevelopment project on the Boston Globe’s website.

0 Financial District Tower Proposed Again

Posted on by
Proposed office tower location in Financial District Boston

Credit: Boston Business Journal

Round two for the proposed tallest building in Boston; the BRA might be offering the 47,738 square-foot parcel up for sale. The market rents in Class A Financial District buildings continue to move up as vacancy rates continue to drop.

According to the BBJ, “Mayor Thomas M. Menino, who had previously sought proposals to build a 1,000-foot tower with 1.3 million square feet of office space at the Winthrop Street Garage site on Devonshire Street between Winthrop Square and Federal Street, confirmed the BRA’s plan to seek a developer for the 47,738-square-foot parcel.”

Additional details can be found on the Boston Business Journal’s article, Menino Tower to get Second Chance