Columbus Center is a massive mixed-use development going up between the South End and Back Bay, over the Massachusetts Turnpike.
I’m a big fan of the project, as is.
However, word is, the banks behind the development are saying that they need the state to kick in some money, in order to make the financing work.
I’m not a fan of public financing. Of anything, but especially a private developer’s project.
Winn Development complains that the economics of the plan have changed, so they need some more money, in order to get the project built.
Perhaps. I have to say, though, if the project needs help, was it really that viable, to begin with?
The bottom line is, Winn wants to have to pay less to the Turnpike, in lease payments.
I think the Turnpike will cave, and agree to it, leading to everyone (i.e., Marty Walz) getting their skirts up in a bunch, but the project will be built, after all is said and done.
Then, thirty years from now, everyone will say they got a “sweetheart deal”. Eh, we’ll be dead by then.
More: Columbus Center developer seeks more public aid – By Chris Reidy, The Boston Globe