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Looks like the developers that are redoing the old Filene's building in Downtown Crossing have hit a snag.

The $650 million redevelopment of the historic Filene's building - which Mayor Thomas M. Menino envisions as the new center of downtown Boston - is struggling because the developers have been unable to raise financing.

Well, hopefully they'll be able to work something out and raise the funding. We don't want a big gaping hole in the ground - we already have one of those in Chinatown (after they razed the building that used to house the Glass Slipper)

What can we expect to see once it's finished?

Hynes and Vornado are proposing to build a 38-story tower with retail on the first four floors, 250 hotel rooms over eight floors, 475,000 square feet of office space, and 166 condominiums on the top 12 floors. The project also includes a grocery store and about 300 underground parking spaces, according to filings with the city.

A grocery store would be awesome. And underground parking too. I would hope that it would help to lower the price of parking in the city, but since there is new housing coming along with the parking - they'll probably just cancel each other out.

Click (here) to read the Globe article.



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3 Response to "Trouble With Downtown Crossing Development"

  1. Not Whitey Bulger Said,

    Boston typically drags its feet so long on development that by the time they start working, the business cycle has turned sour. As for the other building, that's what they get for tearing down the Slipper.

    Posted on 8/20/08, 5:29 PM

     
  2. Dan Dan Said,

    Same goes for Columbus Center. Now there's unfinished construction instead of a park, condos, hotel rooms, and shopping over I-90 between Clarendon and Arlington.

    Posted on 8/20/08, 11:53 PM

     
  3. Anonymous Said,

    Don't forget the Basement was supposed to move back in this spring. According to a Gale employee they are already months behind. The vendor population is struggling with the total lack of foot traffic. The city needs to put some nice stationary kiosks around the whole area and make it an outdoor year round marketplace with music and great deals so at least SOMETHING is going on down there until this project is completed (big dig) which could take years.

    Posted on 8/21/08, 12:02 AM

     
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