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BOSTON-Developer John Hynes has told Mayor Thomas Menino that the Filene’s project for Downtown Crossing here is going to be put on hold until they can reduce costs and solidify financing, according to the Boston Business Journal.

The developer is teamed up with Voranado to develop the major mixed-use project, estimated at $700 million. The project has not closed on its construction loan, and will call a halt until the monetary situation can be sorted out.To read more of this article, from the Boston Business Journal click here.

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