BOSTON-A dream that has lingered for more than a year could be on the verge of coming true for developer Donald Chiofaro, with industry sources claiming that the Chiofaro Co. and Prudential Real Estate are the frontrunners to acquire a prized waterfront parcel on Boston Harbor. Although as of late yesterday no formal pact was apparently in place, the partnership is said to have outlasted several nationally known competitors for the 1.4-acre site.

“It’s basically his to lose,” one source says of Chiofaro’s pursuit of the nine-level Harbor Garage. The source claims at least one other bidder remains in the running, but concurs with other reports that Chiofaro and Prudential have been tentatively designated as the winners of a competition that has lingered for much of the summer. The sales price is said to be in the range of $155 million to $160 million.

At this point, the parties involved are remaining mum on the negotiations, with brokers at Cushman & Wakefield declining comment, while a call to Chiofaro’s headquarters at his International Place office complex in Boston was not returned by press deadline. Despite the lack of input, Chiofaro has openly indicated several times that he covets the property, even launching a pre-emptive attempt back in 2006 to acquire the asset as part of a mixed-use development plan that could include such elements as office space, a hotel and residential uses. Dominated by the 1,380-vehicle garage, the site is considered ripe for additional capacity and uses, although such a vision would have to overcome the state’s onerous Chapter 91 laws regulating harbor development and potential opposition from wealthy neighbors in another high-rise condo.

As for getting a final commitment, sources could not predict how long that might take, especially since reports of a deal being struck have been circulating for more than a month. One source claims the current owners, InterPark, have slowed the process due to a desire to somehow retain a role in the property going forward, but whether that remains an issue is unclear.

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