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