The developers of the former site of Filene’s in Downtown Crossing are crying “uncle” and putting the parcel up for sale — just as the city of Boston is pulling its permits.
Whether they were pushed or jumped is beside the point now. The developers, NY-based Vornado Realty Trust and John B. Hynes III, hope to unload the property and, according to the Boston Globe, are pitching it as a perfect location for “hundreds” of apartments and retail. The original $750 million development envisioned luxury condos and office space.
One possible buyer is AvalonBay Communities Inc. (a large apartment player) and even the current owners of Filene’s Basement say they’d like to put Filene’s back on the original property.