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City Markets 12 Properties for Development

BOSTON- Mayor Thomas M. Menino launches a new commercial development initiative that involves marketing city-owned commercial properties that are currently vacant to developers who will redevelop the sites as office, retail or mixed-use projects.

By Naomi Grossman | Updated on February 11, 2004

BOSTON- Mayor Thomas M. Menino is launching a new commercial development initiative offered by the Department of Neighborhood Development. The program, called Expanding Commercial Opportunities, will market city-owned commercial property to people who agree to invest in the development of the property.

Barbara Salfity, deputy director for the real estate division of the Department of Neighborhood Development, tells GlobeSt.com that the properties were taken by the city in tax foreclosures and are all currently vacant. She notes that they are all located in commercial districts but the city would be interested in a variety of proposals that involve office space, stand alone retail space or even mixed-use development with ground-floor retail and residential units on the upper floors. Salfity points out that the focus of this program is to get these properties back on the tax rolls so there are no affordable housing restrictions on them.

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