September 2, 2010 | Updated 11:26am



Archive for the ‘New Projects’ Category

Hundreds of residential, office projects across Massachusetts face uncertain future

Friday, June 25th, 2010

The Great Recession slammed builders across the Bay State, forcing them to put an array of projects on hold, from new subdivisions to office parks.

Now local builders and developers face a double-whammy. The economy is slowing brightening, but many of the town and state permits builders need to move ahead these long-delayed projects are now in danger of expiring.

So the Home Builders Association of Massachusetts has launched an 11th hour legislative blitz in hopes of convincing Beacon Hill to ride to the rescue.

The trade group is urging its members to call their local lawmakers and urge them to pass a three-year extension of all residential and construction permits doled out between Jan. 1, 2008 and this coming January.

Without this bill, hundreds of projects could see their permits expire, requiring builders and developers to start the often torturous approval process all over again.

And, as we all know, getting a new project approved, especially in Greater Boston, can take months if not years.

NAIOP Massachusetts, which represents developers across the state, has been pushing for a permit extension for a couple years now.

But the clock is now running out, with the Legislature getting ready to pack it up come July 31st.



South Station deal went south long ago

Friday, January 8th, 2010

The collapse of the South Station development deal may have come as a shock to some.

But this is one proposal that had been rotting quietly for quite some time.

The MBTA had hoped to add several tracks to South Station. It was all part grand deal that would see the Post Office sell its mail sorting complex to a private developer and then move its operations to another site in South Boston.

The Post Office would get a modern new plant, the T would get more tracks, and the developers, a combo of Jones Lang and Walton Street Capital, would get a big juicy site next to South Station to redevelop.

Everyone would be happy.

A nice idea, but as I wrote back in June in my weekly column for B&T, it was not to be.

Back then, some troubling signs were already emerging that this deal was not exactly on the fast track.

Postal officials had announced a deal with Jones Lang and Walton back in the spring of 2008 for a mega development and commuter rail expansion to replace the mail sorting plant.

Then the global financial crisis erupted a few months later in September of 2008, wiping out financing for most major projects.

By June of 2009, when I wrote my column predicting the project’s demise, I noted more than a year had passed with no sign of any proposal. In fact, city officials at that point had quietly scrapped plans to hire a consulant to draw up a master plan for the development of the site, a key first step.

Maybe even more telling, no one could even make it to the phone to offer up a phony defense of the project’s health.

Now the Patrick Adminstration wants to step in and by the mail sorting complex itself. Great, but the postal service still needs a place to relocate its plant to and, after years of debate, that’s still far from settled.

All I can say is good luck.

City Hall’s version of a rush job

Thursday, March 26th, 2009

The $700 million redevelopment of the Filene’s complex is clearly a huge mess.

The project, which was to have renovated the turn-of-the-century department story and put up a skyscraper up next to it, has stalled, leaving a bombed out block in the heart of already struggling Downtown Crossing.

Given the problems, it’s natural that everyone is going to take a look at what went wrong.

The Globe takes a crack at it in Thursday’s edition, building a case that City Hall rushed through key approvals and left some paperwork unfinished to get the project into construction.

That may be so, but it also makes you wonder. The would-be developers, a partnership between local tower builder John Hynes and retail development giant Vornado, first submitted their plans to City Hall back in the fall of 2006.  But it took a whole year to get even preliminary approval, with work not starting until months later.

In the meantime, the business world and credit markets steadily deteriorated.

If this was a rush job, I can just imagine what happens when city officials decide they really need to slow a developer down.

If anything, this highlights the problems more than one developer has faced trying to slog through Boston’s at-times cumbersome development review process.

It can take years for a major development project to get all its approvals – or in the case of an alleged rush-job like Filene’s, more than a year. And as the developer cools his heels, the economic sands can easily shift under his feet.

It’s happened before. The billionaire Pritzker family had hoped to start building a new neighborhood on Fan Pier back in 2000, only to get caught in a morass of city and state red tape. The project finally won all its approvals in mid 2001, but by then the economy had turned and it was too late.

The result was a lost decade for Fan Pier.

Let’s not hope we have to wait another ten years to see work start again on the Filene’s project.

Not As Big A Gamble As You Would Think

Tuesday, January 27th, 2009

Posted By Scott Van Voorhis

There sure are a lot of big development plans out there right now, but not a lot of actual building going on right now.

House Speaker Sal DiMasi’s departure, however, could open the door to at least one potential source of new business everyone who builds things for a living, from developers to trade unions, could benefit from - expanded gambling.

The Boston Globe touches upon the issue today in a story that states the obvious, that with DiMasi, the state’s leading gambling foe, heading for the door, casinos have become at least politically possible now.

The article then throws a damper on the whole idea, arguing that the down economy has hit the casino industry hard, making gambling companies more wary of undertaking new ventures.

To back the theme up, it quotes a one-time lobbyist for Donald Trump. Interesting choice given the Donald’s gambling empire has had its challenges over the years long before the current slump, including bankruptcy.

While it’s certainly true that the gambling industry has seen its revenues go down, it ignores the fact that at least three or four developers are well along in lining up sites and drawing up plans. It’s hard for me to imagine, for example, casino developer Richard Fields, after buying a moribund Suffolk Down in hopes of building a giant and entertainment gambling resort at the East Boston racetrack, will just sit this one out until the economy rebounds.

Some companies will take a pass, but given the number of players out there, and the immense stashes at stake, if Massachusetts decides to legalize casinos, there won’t be any lack of gambling industry players ready to roll the dice.