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– News from elsewhere with implications for Quincy covered by Quincy Quarry News.

Boston Globe headquarters failed sale explained.

As reported in the Boston Business Journal, the recent collapse of the Globe’s second attempt to sell its fifteen plus acres former headquarters and now prime transit-oriented redevelopment site given its immediate proximity to the JFK Red Line and Commuter rail station was likely the result of overreach by the prospective buyer.

Simply put, the scope and cost of redeveloping the site appears to have been beyond the prospective developer’s means and previous projects size experience.

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Going once, going twice, going away for four years
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As for implications for Quincy, all one has to do is look at the range of projects proposed for development locally to see that many are from developers looking to step up their game considerably from their past project size experiences as well as more than a few relatively newcomers seeking to convert the sites of their now former businesses into mostly premium to extra premium rental rate apartments.

After all, Quincy Quarry’s Real Estate Development Desk is aware of a variety of long touted pending as well as approved developments for many hundreds of residential units have suddenly been at least put on hold in recent months for all manner of reasons, but mostly ultimately ones involving problems with their economics and/or securing financing.

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Read the story: Why the second deal to buy the Boston Globe site collapsed

 

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