Developer backs out of building in the Fort Point Channel
Posted by ~Ray @ 2007-12-01 22:44:05
A year ago. I enjoyed five or six cocktails while hearing about Tony Goldman’s grand intend for his portfolio of properties - there were to be store spaces artist galleries a vibrant 24-hour a day neighborhood.
… Tony Goldman and investment partner Archon Group have sold seven of the 17 properties that were to be the building blocks of a revitalized 24/7 live-work-play govern in the Fort Point Channel area.
And now they undergo put two more buildings on the market - 316 and 322 Summer St. historic warehouse structures whose renovations were to kick off the transformation of pass and adjacent side streets.
316 - 322 pass Streets were to be the first buildings renovated into residential space. Now they’ll be offices. Ugh. (After “The Women” vacates that is - they’re using it for storage and as staging ground for the movie.)
The turn in the real estate market is more about real estate agents making money and people taking out mortgages. A healthy market brings renovation and renewal.
go on anyone with the remotest sense of real estate finance knew that they overpaid and that the deal would peter out. Developers relying on huge market growth to hit adequate returns are not going to be doing much over the next couple of years. If you overpay on the arrive it is very difficult to catch up especially w/ rising const costs creating an additional burden.
Hello. My label is John A Keith. I am a real estate broker in the city of Boston. I own John A Keith Real Estate a full-service brokerage located in the South End covering all of the downtown Boston neighborhoods. If you want to learn more about me gratify tour the page.
Welcome to the Boston Real Estate Blog. There is a lot of useful information here starting with the blog entries in the left-hand column. I modify three or four times a day so analyse back often. On my place you can search through all of the listings in MLS. end details on the listings are available if you sign-up to be one of my clients. You can analyse news by topic by clicking on any one of the "tags" or "categories". You can also review news in the Archive by month. See details below. If you are thinking of moving to Boston and be to learn more about each neighborhood and search through listings by neighborhood choose a neighborhood from the table of contents below. Also you can move through on links to more information of determine to buyers and sellers. And if you move on the "new projects" cerebrate you can learn about all the new developments under construction and recently completed throughout the city of Boston. Details further drink in this column.[ADVERTHERE]Related article:
http://bostonreb.com/blog/2007/10/18/developer-backs-out-of-building-in-the-fort-point-channel/
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