Wednesday, February 06, 2008

Collection of Recent Articles Related to Fort Point

Sam Allis from the Globe has a column on development plans for South Station and the surrounding area:
Big plans for South Station, but don't hold your breath

Kairos Shen, who worked with many in the neighborhood on the 100 Acres Plan, was promoted to Chief Planner for the BRA:
Kairos Shen named Boston's chief planner

The Boston Business Journal has an article on Russia Wharf being sold (again):
Russia Wharf condo plan may be altered

For the second time in three years, the owner of Russia Wharf is selling the residential portion of the development.

The current owner, Boston Properties Inc. (NYSE: BXP), is in the process of selecting a buyer for the residential slice of the mixed-use development that could sell for about $65 million. Boston Properties bought Russia Wharf from The Blackstone Group last March for about $100 million.

One of the bidders in the final three, according to sources, is Avalon Bay Communities Inc., which owns the luxury apartment complex Avalon at the Prudential Center. Avalon Bay and Boston Properties are partnering on a development at 888 Boylston St. where BXP plans to build a 19-story office building and Avalon intends to build a 30-story residential building. Both buildings are subject to approval from the Boston Redevelopment Authority.

Real estate sources say Avalon isn't necessarily the assumed winning buyer and that the decision will be based on which bidder has the best development plan. Other finalists may include developers who are interested in building either condominiums or a hotel.

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