boston real estate blog   
Sponsored by Ford Realty Inc.
137 Charles Street, Boston
realtyford@yahoo.com
617-595-3712
617-720-5454
151 Tremont Street
617-482-0010
boston real estate blog
| Home | Search Boston Condos | Search Boston Rentals | Buying
Real Estate
| Selling
Real Estate
| About Us | Contact Us



Quincy and the perils of mega-huge development projects

The developer of the $1.6 billion Quincy Center redevelopment project, which has stalled amid financial uncertainties, has been issued an ultimatum by the city: Build or the development agreement is terminated.

Or so says the city.

The reality, though, is that Quincy is now in a fine pickle. What does the city expect? The developer to simply hand over the rights to another developer — as if there’s a scroll of paper, rolled and tied up with a nice red ribbon, that can be handed off to someone else?

Good lord. Think of all the tangled legal and financial obligations that come with getting rid of one developer and getting another to assume the mess down in Quincy. It’ll take months, if not years, to sort out.

But the point here is really: Beware of grandiose government re-development projects to transform entire districts or neighborhoods. When they succeed, they succeed. When they fail, they fail. And they usually fail, at least at first.

The problem is that there’s almost no way for a government, and a single developer, to truly know what the public will want in the future when it comes to tying together multiple numbers of properties. It’s better to guide, not dictate, development plans, letting a certain amount of organic growth to occur and remaining flexible to market changes.

That’s exactly what has happened in the Seaport area. The real development of the area began decades ago with Fidelity’s visionary move to redevelop the World Trade Center and start building in the area. Then came the US Courthouse, followed by the new Convention Center and … you know the rest of the story.

Quincy’s downtown definitely needed work — and major infrastructure improvements — before it could truly take off and serve as a development release valve to Boston.

So maybe Quincy’s downtown plan isn’t/wasn’t too much of a pipe dream. Maybe it will turn out similar to the Big Pit fiasco at the old Filene’s site, when one developer crashed and burned and another had to be brought in to rescue the project (though we’re talking about one parcel of land at the old Filene’s site, not multiple-square blocks like Quincy’s project — see sketch above).

Maybe, maybe, maybe …

File under: Visionary Delusional Planning

Read other posts about: Massachusetts real estate

Leave a Reply »»

Comments may be moderated, edited or deleted; by leaving a comment, you are agreeing to the Terms of Service of this website.

Let's talk Boston real estate. The most recent real estate comments

  • John Ford, Charles Ponzi’s old Lexington home for sale at $3.3M: That’s a great idea. Anyone have an idea how...
  • Rich, Charles Ponzi’s old Lexington home for sale at $3.3M: Speaking of Mr. Ponzi, he ran his Ponzi scheme out of an...
  • amparo bracero, Big changes in store for Tremont Street?: I will love to comunicated my self with aida I was one of...
  • warren currier, Low mortgage rates may partly explain low inventory: The banks are making it very hard to get a loan....
  • Kiki, ‘Our biggest impediment’: Inventory: A quick maybe unrelated question. What’s a typical or...
  • JS, Hey, let’s tear down most of downtown Boston for the Olympics: I agree, and I resent the commission describing us...
  • PROPERTY MANAGEMENT COMPANIES in Carlsbad CA, ‘Our biggest impediment’: Inventory: good blog
  • Phoenix property management, Blog: As you may have noticed I am having problems with the comment section of the blog....
  • Phoenix property management, Get your very own ‘mushroom house’: Good post. i like it so much.
  • Phoenix property management, Get your very own ‘mushroom house’: Good post. I like it
  • PROPERTY MANAGEMENT COMPANIES in Carlsbad CA, California dreamin’ on such a winter’s day …: Good post...
  • Borris C., ‘Friendly competition’ keeps Seaport rents as high as possible: Sounds like good old-fashioned collusion...
  • Matthew Mowell, Boston’s glut of new luxury apartments may bring down rents – and banks with them : One reason why...
  • greent, Boston Condos Sunday Open Houses: The editorial team unmistakably thanks ea and ea and occasionally every
  • Anumaneitaka, NAR job posting – needed: economist, spokesman, human punching bag: Вас не отпускают с работы? Не...
  • PROPERTY MANAGEMENT Oceanside CA, Blog: Thanka
  • warren currier, Chinese homebuyers are snapping up properties in … Detroit?: Don’t taunt them...
  • warren currier, Chinese homebuyers are snapping up properties in … Detroit?: Re Boston: If you venture out to...
  • anon, Five signs you’re a ‘renter for life’: Or you could very well understand finances and the...
  • anon, Return of low down-payment mortgages: Brilliant! Just keep lending more for less and prices must keep rising....

  • Join us on Facebook Subscribe To FeedBurner Follow us on twitter Newsletter sign-up

    Welcome

    Are you considering the purchase or sale of a home in Boston?

    Contact us today to discuss ways we can help make the experience easy and stress-free.



    Search past blog entries





    Site tools


    Add To Google      Subscribe To FeedBurner

    Add To My Yahoo!

    | | | |





    Boston Real Estate/Boston Condos for Sale -
    Search MLS

    Select property type:
    Select area:
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
    Select property size:
    Price from:
    Price to:
    MLS #



    Boston Real Estate and Boston Condos

    Click on the links below for Boston condo neighborhood sales listings

    Boston Back Bay Condos

    Beacon Hill Condos

    Boston Charlestown Condos

    Fenway Boston Condos

    Boston South End Condos

    ----------