One of my favorite projects looks like it has hit a road-block.
Delaware North, owner of the Boston Bruins and TD BankNorth Garden (ugh), had planned to break ground this year on a 37-story residential tower, to rise behind the Garden. It is to be called the Nashua Street Residences (or, hopefully, something more grand).
I expected them to start building, after they called me this past May, to ask what I thought, before they signed the paperwork necessary to bring the first truck to the site.
Well, apparently, I wasn’t able to convince them they should go ahead, because now they’ve decided to hold off building, and have begun the search for a development partner.
Scott Van Voorhis, in today’s Herald, says it’s not necessarily a bad thing for Delaware North to look for a partner.
According to Chris Maher, an executive at a Delaware North subsidiary, “We were thinking we could do this on our own and ramp up and pull it off,” and, “itâ€™s quite possible we could have.”
However, “It was a strong decision to say, â€˜Letâ€™s know where are strengths are.â€™ ”
Which, apparently, is bringing in someone with more development experience, and, perhaps, deeper pockets?
Source: Partnering may give plan life – By Scott Van Voorhis, The Boston Herald