LuxBeat Local Real Estate Professionals discuss rumors, facts and opinions on Luxury Real Estate in Boston, MA and Providence, RI

March 1, 2007

City Hall and Surrounding Land For Sale;-) Good For ALL!!

Filed under: Boston Real Estate — Joshua A. Golden @ 4:24 pm
In a speech this morning, Mayor Menino annouced his plans to again try to sell City Hall and City Hall Plaza to private developers.  The sale of this under-developed land would provide more than enough proceeds to fund the development of a iconic new City Hall on Drydock Four in the new and up-and-coming “Seaport District”.

Josh’s Thoughts:

This is fantastic for the city and future luxury condo buyers.  Any high rise built on this land will boast stunning Ocean, Beacon Hill, Back Bay and park views.  Being on the edge of Beacon Hill, historic North End and located in the middle of “It All” this parcel of land will fetch a premium.  It will also be fantastic for the up and coming Seaport District where Mortons and Legal Test Kitchen have take up positions in anticipetion of enourmous future development.

Nicks’s Thoughts: 

My Thoughts:  I am almost always a fan of redeveloping under-developed land and completely support this proposal.  What are the drawbacks?  None that I can see.  Developers get a blank canvas to add to Boston’s skyline with more residential and mixed-use properties and the city get’s rid of one of the ugliest buildings ever constructed.  This also should bring some attention to the newly developed “Seaport District” and most likely bring in better public transportation as well.

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