"There was concern about the height and density of the project," Meredith Baumann, a spokesperson for the BRA, tells GlobeSt.com. "We asked him to pull it because of our concerns."
A spokesperson for Meredith tells GlobeSt.com that the project, which she estimates will cost approximately $200 million, as submitted to the BRA involves residential units, retail and office space. The Massachusetts Turnpike Authority put the bid for the air rights over the turnpike out a year and a half ago. Meredith was the sole bidder and it seemed to be a natural fit as the firm's plan takes advantage of the 300-foot-long Lansdowne parking garage, which the company acquired more than 10 years ago. The garage was expected to serve as the base for two of the project's towers. The development on a deck over the Turnpike would include multiple buildings of different size and scale, as well as pedestrian streets and alleys.
Baumann says that the BRA will be heading the effort to develop alternatives to Meredith's proposal. She emphasizes that a focus will be on financial feasibility and to that end Pam McKinney of Byrne McKinney & Associates Inc., is being brought in to determine potential costs. Baumann notes that there is currently no time frame for coming up with a plan. "We are giving it our full attention," she says.
Lend Lease Real Estate is the project's financial partner and the development team includes architect Carlos Zapata of Wood and Zapata and Bovis Construction.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.