Capital may be tough to find these days, but the developers of a major downtown mixed-use project in Boston's Downtown Crossing district have received financing.
"The developer of the $650 million Filene's project in Boston has done the unthinkable in this global credit crisis: borrow money.
After weeks of uncertainty about the struggling project, developer John B. Hynes III and partner Vornado Realty Trust have secured financing to proceed with construction on the 1.25 million-square-foot mixed-used site, which will include retail shops, condominiums, a hotel, and offices in the historic department store building and a new 38-story tower next to it.
The head of the company building the project, John F. Fish of Suffolk Construction Co., said he was told by the developers to ramp up construction work because the team had locked in its final pieces of funding in recent days.
'We've been given the green light to move forward, and the financing has been validated, so we're in good shape,' Fish said. His firm has even bought the structural steel for the complex."
FULL STORY: Filene's plan back on track
Boston Moves Zoning Reform Forward
The ‘Squares + Streets’ plan creates form-based zoning templates for neighborhoods that promote mixed use and denser housing near transit.
Mega-Project Aims to Transform South Boston
Developers with a ground lease for land owned by the University of Massachusetts Boston want to build a new mixed-use development to rival Kendall Square in nearby Cambridge.
A Bold Vision for a Car-Free Boston
As other cities take daring steps to reclaim their streets, a car ban in downtown Boston doesn’t seem so implausible.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Restaurant Patios Were a Pandemic Win — Why Were They so Hard to Keep?
Social distancing requirements and changes in travel patterns prompted cities to pilot new uses for street and sidewalk space. Then it got complicated.
Map: Where Senate Republicans Want to Sell Your Public Lands
For public land advocates, the Senate Republicans’ proposal to sell millions of acres of public land in the West is “the biggest fight of their careers.”
Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.
San Francisco Suspends Traffic Calming Amidst Record Deaths
Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.
California Homeless Arrests, Citations Spike After Ruling
An investigation reveals that anti-homeless actions increased up to 500% after Grants Pass v. Johnson — even in cities claiming no policy change.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Heyer Gruel & Associates PA
JM Goldson LLC
Custer County Colorado
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Camden Redevelopment Agency
City of Claremont
Municipality of Princeton (NJ)