Columbus Center In Trouble

BOSTON-Columbus Center mixed-use complex may not be built at all, so says the Boston Globe, with the Department of Transportation warning the developers that they are in default of their 99-year lease and in danger of losing the project entirely.

The proposed $800-million mixed-use project by developers Winn Companies and the California Public Employees Retirement System (CALPERS) was halted in 2008 and has yet to complete construction. The DoT tells Globe that the site has also not be properly kept up in the interim, which has led to this notice.

There will be a 30-day period in which the developers can submit a plan to initiate further construction to complete the project. If the plan is not begun and/or it fails to meet proper standards for state officials, the developers will lose the lease by the Massachusetts Turnpike.

To read the full Globe article, click here.