Quantcast Not Exactly An Accurate Portrayal Of The Situation
Search by tag or site Login to my blogStart my own blog















TheMoneyBlogs
Home
About
Create your own blog
Contact us
Vote for this blog!

The Boston Real Estate Blog

I am an independent real estate broker, focused on the residential real estate market in downtown Boston.

Not Exactly An Accurate Portrayal Of The Situation

Posted on 05/11/2007 15:14:00 | Link | Post Comment

From today's Herald:

It's headed nowhere

Thanks for revealing that the NorthPoint project is little more than a huge public relations stunt (“Legal battle could mean NorthPoint’s headed south,” May 4).

Its development team has fallen apart with nothing accomplished - and that was after over six years free of any of the Chapter 91 tidelands regulatory constraints the developers recently lobbied to avert.

Ironically, it is for this smoke-and-mirrors project that Gov. Deval Patrick sacrificed his reputation, filing legislation to spare NorthPoint and other landlocked tidelands from Chapter 91 licensing to which the Supreme Judicial Court ruled them subject. Ironically too, his development advisers, both real estate lawyers involved in NorthPoint, did not inform him that the failing project was not worth squandering his political capital.

Perhaps if the project had undergone that public review process, some of the problematic issues might have been resolved to the benefit of the developer as well as the public.

- Shirley Kressel, Boston

My dear, you're confused about a couple things.

This is a huge, $1 billion project, as planned. It took six years to get going because of its size and complexity. The project DID undergo a public review process. An exhaustive public review policy.

The courts originally decided that the project did not have to submit to a Chapter 91 review, for the simple reason that it's not located on the water!

Only at the very last possible moment (actually, AFTER the last possible moment, since construction had already commenced on the first two buildings) did it encounter difficulty, when arrogant neighbors (neighbors being used loosely, since they live at least a half-mile away ... across a six lane highway) were able to convince the courts to intervene. Although the project is over 1,000 feet from any river of any type (more like a stream), it's now faced with regulations that will hamper, delay and perhaps rule out any further construction.

Don't try to confuse people as to the issue.

I fully expect the project to continue, once the developer and owners work things out, in the court room.

More posts about: 
Stock Quote or
Examples
ATM Wallstreet - Tue Jul 08, 2008 02:28PM
Why I traded the stock ME today. I had it on my list fr [read more]
Morpheus Trading - Thu Jul 03, 2008 07:49AM
NOTE: Please click on the charts below to enlarge them if [read more]
Morpheus Trading - Sun Jul 06, 2008 11:00PM
NOTE: Please click on the charts below to enlarge them if [read more]

PREMIER SPONSORED LINKS

Most Visited Blogs | Most Popular Blogs | Most Recent Blogs | Contact Us | Terms and conditions | Privacy Policy

The columns, articles, message board posts and any other features provided on TheMoneyBlogs.com are provided for personal finance, education and investment information and are not to be construed as investment advice. Under no circumstances does the information in this content represent a recommendation to buy, sell or hold any security. The views and opinions expressed in an article or column are the author's own and not necessarily those of TheMoneyBlogs.com and there is no implied endorsement by TheMoneyBlogs.com of any advice or trading strategy. The analysts and employees or affiliates of TheMoneyBlogs.com may hold positions in the stocks or industries discussed here. Your use of this and all information contained on TheMoneyBlogs.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

Copyright © 2008 The Connors Group, Inc.