| It's one of the best things that could happen to downtown CRE. The crater at Downtown Crossing (left in ?08 by Vornado et al when they halted a $700M development) will be filled with a $600M mixed-use project within a year, Mayor Tom Menino announced on Friday. NYC-based Millennium Partners, long active as developers a few blocks away, has agreed to build a retail, commercial, and residential complex at One Franklin, including the redevelopment of the old Filene?s building. Two weeks ago, Colliers co-chairman Tom Hynes predicted for us that construction was likely to start there within a year, what with thousands of rental apartments being built all around, property values strong, and City Hall encouragement. |
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