BOSTON-A number of powerful local politicians endorse Frank McCourt's plan to build a ballpark for the Boston Red Sox on part of his 25-acre swath of parking lots in South Boston. McCourt is currently bidding to purchase a controlling stake in the team.
BOSTON-Fidelity Investments will take 80,000-sf of space in one of the buildings it is developing here in South Boston on the waterfront with local developer John Drew. The move comes as the financial services company looks to sublet 70,000-sf of space in the financial district.
BOSTON-The fate of Starwood Hotels & Resorts Worldwide Inc.'s involvement with the development of a headquarters hotel here hangs in the balance. The hotel, which would abut the convention center being developed in south Boston on the waterfront, is considered crucial to the center's success.
FRAMINGHAM, MA-Archstone Communities still intends to present its plans for a 264-unit apartment complex here with an affordable-housing component. The town was recently certified as having met its affordable housing requirements, which means the developer cannot bypass local zoning laws if the town rejects its plan.
MARION, MA-Cranberry growers here buck the recent trend by selling their property to the town and to a land trust rather than to developers. The deal was arranged by a local environmental group and restricts development on most of the 270 acres.
NEWTON, MA-After two years, it is still unclear what is going to happen to the proposal to develop a senior housing complex here. The developer would like to build 40 units but a number of engineering issues are reportedly standing in his way.
FRAMINGHAM, MA-Boston Properties commits to moving ahead with its $40-million hotel and office complex off the Massachusetts Turnpike. But the company says that it will not begin development until the project is adequately pre-leased.
STONEHAM, MA-Archon Group sells a five-story building here on One Montvale Ave. to HUB Acquisition Trust for $9.2 million. The 97,777-sf building is 90% leased and is located on Routes 93 and 95 about 10 miles north of Boston.
BOSTON-A coalition of business leaders led by Fidelity Group and the Greater Boston Chamber of Commerce comes out against an affordable housing initiative that would boost property taxes in this city by 2%. The initiative will be on the ballot this November.
LYNN, MA-General Electric Corp. lays off 4,000 people from its aircraft engine business, including 250 people from its facility here. The recent terror attacks exacerbated an already difficult situation in the airline industry, leading to reduced spare-parts sales and service orders for GE.
