"We have spent two years and close to $1 million trying to develop that project and during the due diligence, we learned that the cost of our project was escalating to $70 million," Kelley Rice, vice president of external affairs for the Greater Boston YMCA tells GlobeSt.com. "At $70 million, as a self sustaining not-for-profit organization, we felt that would jeopardize all the work we were doing in the neighborhoods as well as limit our plans for the future."
The YMCA's decision to pull out of the Greenway project was the second major blow to the city's plans to develop a park and cultural corridor along what was once a busy highway before that roadway was moved underground during the Big Dig. In May, the planners of a large winter garden that was to take up a block long site on the Greenway terminated their contract with an affiliate of the Massachusetts Horticultural Society, placing the project in jeopardy.
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