The donation is considered one of the largest private gifts ever made to the common. In addition, New York-based Millennium guaranteed an additional $50,000 each year for 20 years to maintain the park. In a released statement Christopher Jeffries, one of Millennium's founding partners states," It was inconceivable to us that we would undertake such an ambitious development… and not make a concerted effort to help beautify the Common itself."

Plans for the Common include the construction of an irrigation system for the grass, repair of damaged walkways, the erection of 300 feet of wrought-iron fencing new signs and fresh plantings. The renovations are scheduled for completion by the end of the summer.

The Ritz-Carlton will consist of 1.8 million sf of mixed-use property, and will include a 19-screen cinema and an athletic facility. Millennium has also acquired the original Ritz-Carlton Boston and will restore the 74-year old hotel. That project is slated for completion in 2002.