Boston Real Estate for Sale

Looks as though Columbus Center is not to be, much as I’d like it to be otherwise.

Perhaps I’m being unduly pessimistic, but I don’t see much chance that the Winn Companies will be able to pull it off, at least based on what you read in the press.

The latest news was that the developer was again looking for a public subsidy to fill a $40-million gap in construction costs.

From Banker & Tradesman:

On Friday, The Boston Globe reported that a spokesman for the development team said the developers and [State Representative Dianne] Wilkerson were discussing ways to “generate fresh public assistance.”


“None of the meetings I’ve held with the developers since April have been about giving them more money,” she said. “We did not even discuss resurrecting the money that has been pulled off the table …”

She did remind the reporter of one important thing, though.

“There is simply no other project that will bring the kind of benefits that Columbus Center offers, including 2,300 jobs,” she said. “Without public funding we would never have built the Convention Center, the Hampton Inn in Roxbury and the Seaport Hotel. We helped the Patriots build Patriots Place to the tune of $300 million. Who are we kidding?”

True, that.

Source: Wilkerson Says She’s Not Seeking Public Funds for Stalled Project – By Thomas Grillo, Banker & Tradesman

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