Saturday, November 22, 2008

What are they going to do with that giant gaping hole?

I saw a WWD headline that piqued my interest today:

Financing Woes Halt $700M Boston Project

I've been passing this area everyday when I walk to work from the train, and I have to admit, I had no idea what they were planning exactly. I'm still hoping for a Target.

Wall Street’s implosion has blown a hole in the $700 million development of the former Filene’s site in the heart of the city.

The One Franklin project — retail, upscale condos and a hotel — was to anchor a revitalized Downtown Crossing, a district that 130,000 people pass through daily. But developers Vornado Realty Trust and Gale International are unable to meet financing goals and are suspending activity at the site, where a crater several stories deep has been excavated.


On another note, does anyone subscribe to Women's Wear Daily? I don't know what I think; it's a lot more expensive than a US magazine subscription, but it's daily...

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