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More bad news for the big Downtown Crossing redevelopment project at the former Filene's building. First there was the construction halt due to the financing issue (here). Now, it looks like the condos are getting cut from the project.

The developer of a $700 million tower on the former Filene's property in Downtown Crossing is reducing the building's height by seven floors and dropping plans for 166 condominiums to resolve financial problems that halted construction last month.

It would include 285,000 square feet of retail space, with Filene's Basement on four floors beneath street level and additional stores on its first three levels. It would also include a 280-room hotel on floors one through eight, along with a 125-seat restaurant. Floors nine through 32 would consist of office space. An underground parking garage is being scaled back from 299 spaces to 150.

It's a shame they have to get rid of the condos. It would be a really convenient location to live.

Click (here) to read the Globe article.

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1 Response to "DTown Crossing Filene's Project Loses Condos"

  1. Anonymous Said,

    A convenient location to live? Sure if you can afford a 2.5 million dollar condo! Who would buy them in this market in that neighborhood? If Hynes can't get financing then the project should be scaled down completely to what the can afford and then it should ne finished. Leaving this hole in the ground in the center of the city is a disgrace! Giving these guys 40million would be a huge waste of the tax payers money. If the city wants to help someone, then force greedy property owners to lower rents which would attract some diverse retailers to the area and fill empty store fronts. They need to make Downtown a destination for regular people. Low interest loans for small businesses to get them open in this depressed area would be a nice start as well as free parking.

    Posted on 12/16/08, 10:30 AM


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