The Boston Herald is reporting today that the replacement of the pokey little Tea Party ship “replica” and museum in Fort Point Channel now has a hefty $25 million price tag on it. The lion’s share of the tab ($18 million) is coming from the Massachusetts Convention Center Authority, $3 million from the BRA (via a deal with Boston Properties), and the rest ($4 million) from the actual museum developer, Historic Tours of America.
The developer said it’s money well spent because the museum will be “famous around the world.” Kind of like the Guggenheim Museum in Bilbao, Spain. But with floating replica ships, and tea chests attached to the boats with rope (for easy retrieving).
File Under: OPM financing.