Jul 19, 2017|
Katharine Seelye (NY Times, Boston Building Boom) by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
We're joined now by Katherine seal from the New York Times I Katherine Dario. Glad to have you on how much construction. Is going on in the city of Boston today how the commercial real estate construction. Well at a there aren't getting out little bit at the moment. There is nine point two. Billion dollars. That would be yup billion dollar. In and lit 100. And they also say that fit with the biggest boom in the city in prior history nearly 400 years. Out there being an industrial revolution. In and out bit saying the period in the news and seventy. When they handcuffed Allen who land. Right right. What laws were passed in the 1990s. To prevent skyscrapers from being constructed in Boston wasn't that long ago 25 years ago in the early ninety's. The city in the state decided they wanted to put the kibosh on a lot of construction that you referenced from the seventies and eighties. Well mean they didn't really good then we'll option than they live ended in a certain victory them down. They limit. The amount of I hit a certain building. Because. They didn't want shadows in the ball on the public. And bought the public garden or the common ground. But. All in all have landed a left wing nut years. Do. It created good. Well. There have gone. By humbled and as an up and been. And then. But Mary. Right but may or Walsh Katherine is now trying to change these laws why why is this is specifically there's one project he's interested in. But why is Matt Walsh he's trying to change these laws. Because there's one particular. I you'll Howard. There want to. But they'll then. Live if it was that I would be back and I am building. After the Hancock. And bought them. And there won't them. They want them didn't want this building is. There's any old. At night movement that building went though an old Golan right. And the city would get under three million dollar. That sale. Plus they get much increased tax revenue right. They would get you know a lot of jobs being created and they did you vote at the end they will get millions. Impact revenue but here's the real selling point. That the money the mayor. Is already old. Area neighborhood association. Around around the city. And areas. In that group and heart that they will be the beneficiary. Of that money. So and then Donald some of these group mind normally say oh no you know this is a terrible thing that aren't very. Eric I don't know what we're gonna benefit and the so it's been a very Smart strategy on their part. How strong is the opposition to this as I read your article they're number of people opposed to the construction of this project. Interestingly I think because of the attitude in the air and except the only guy who ended up. One neat person. Emerge in the eleventh hour. Bill Nelson me secretary of Satan who also chairman. Of the day at the local mention. It came up at the last minute add a little later hearing a week ago and said. Hold airport in you says you don't like the way that we've done. And it's been that bad for. Building in Boston that says you know they. 20200. Years the. Right right. Well very good Catherine thank you very much free time we appreciate it oh yeah Katherine Sealy. From the New York Times talking news about the story and you know I've I've. Read the pros and cons of this and and in union are little different on this chart that I. I say build baby boot build in you think the old drill baby drill I wanna build. Boston is on the verge. Of becoming another city like. New York and San Francisco and they're a lot of people that are posted that I understand that. But it makes us a world class city with some of these construction projects that are on tap. Is that your point of other places you can to help him acquire. Like the entire other part of Boston that is nowhere near the common and but why do you need to develop this won the tour people wanna live that's where people and work Friday morning to worry about what he cut a hundred feet off the top that would what I worry about a hundred feet off the top that. What would I worry about on this is. But I don't care about the hundred feet in the shadows on the comedy careless. Let's if you don't live in the city what I care about is transportation Heidi give these people in and out of this. You know you he tried driving in to Boston an 8 o'clock in the morning on a weekday morning good. And he's just the the RE if you goodness if you gonna do this type of construction project. You have to simultaneously. In big major and dramatic improvements to your public transportation. I'd in my opinion I just think your point of places that you can continue to develop either in Boston or in the surrounding areas and with that. You know again if you're building by the common historically there been rules that you've had a play about. I don't understand why we should change and just because someone wants to do something different money talks. Hundred units and in that I noted that kind of how we've gotten like this whole situation in the first place lake is from doing things that we're not like that's when you think about the very. Crux of the financial crisis. We got there because we did things that we said well will be will do it for the money now. That's finally the whole big part of how we got you see why I like the idea of doing this though is into it it makes space available. In Boston new one of the things holding Boston back right now is in a company like Amazon wants to hire 900 people. Yeah they may have difficulty finding a place where we put these people why do you have to make it as tall as it is. Why do you need NATO and for electing a B six and developers in terms of financing it I'm sure has to do with. The the ability and how surprised I'm sure these. It's going to be more profitable if it's bigger there's no doubt about to get more tax revenue more jobs are more force. I I I understand all that but you have to understand if you live in the city there's very few areas that you can go where you have actual green space and so to take one of the areas that does have a right now. And all of a sudden put that at risks and I think that's pretty separate badge near by Central Park was completely surrounded by skyscrapers. Now I understand day and night in I don't live in the city but I do like the idea. I what I would hate to see. Is that Boston falls behind and in you know doesn't keep up with the trends but. I want Boston to continue to grow but this is the project on the periphery like again there's nine point two billion dollars in other construction. This doesn't make a dent.