Boston Real Estate for Sale

The mess at NorthPoint continues.

From today’s Globe:

State transportation leaders, frustrated by delays in the massive NorthPoint development, are taking over the building of a new MBTA station on the Cambridge property – a move necessary to ensure an on-time start to the $550 million extension of the Green Line.

The NorthPoint development team had agreed to build a new $70 million Lechmere Green Line station inside the former rail yards off of Monsignor O’Brien Highway, in exchange for the state’s giving them the property at the existing Lechmere Station.

But the two partners in NorthPoint … have been locked in a court fight in Delaware over the pace of the development, financial issues, and the potential sale of the property.

By the way, how are sales going in the two buildings that have been completed?

The buildings, known as NorthPoint Tango and Sierra, have welcomed their first 25 occupants, said Sue Hawkes, chief executive of Collaborative Cos., which is marketing 329 condominiums on the property.

She said 46 units have been sold in the two buildings.

If by the state taking over the new station we can move closer to bringing public transportation to Somerville and Medford, then I’m all for it.

We can still bill NorthPoint later, right?

(By the way, who is Casey Ross, the reporter on this and other recent Globe stories? Call me, we should do lunch, my treat.)

Source: State to take over building of T station – By Casey Ross, The Boston Globe

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