Designed by architects KPF and backed by a developer team led by Boston Global Investors, the 6.3 million square foot project will include retail, office, hotel, civic and cultural spaces, with nearly 40 percent of the site reserved for green space. The city hopes the $3 billion development will draw high-tech and creative companies and provide affordable housing.
However, some city official are concerned about handing over such a large site to a single developer, notes Ted Smalley Brown:
'While the plan's approval is encouraging, city officials are wary of getting left with acres of vacant sites should the development stall out. Indeed, Boston Global Investors CEO John Hynes III played a lead role in a condo and office tower on the site of the former Filene's department store in nearby Downtown Crossing-a project that notoriously stalled after demolition and excavation in 2008.'
Comments
Bigger Than Big Dig?
Regarding this "23-acre, $3 billion mixed-use development in the South Boston waterfront district. Officials describe the 6.3 million-square-foot scheme as the largest single project in the city’s history". I wonder how they categorize the 3.5 mile, $11 billion Big Dig? Or is there a separate category for federal $?
Irvin Dawid, Palo Alto, CA
How much did Big Dig cost?
Above, I listed $11B as I had read that in one reference in Planetizen....since then, I've read $14 B when completed on 12/31/2007.
The original estimate was $2.8 B in 1982.
Wikipedia (above) points out that the $14B is $8.08 billion in 1982 dollars
Irvin Dawid, Palo Alto, CA