Sept. 27th 2011, Boston’s Real Estate Developers with Mayor Menino

2011年 9月27日,波士顿市长曼宁诺与房地产开发商

(Jia Hu edited 胡佳稿)


1) Boston Mayor-Thomas Menino 波士顿市长曼宁诺


2) Patty Chen with John E. Drew, President of The Drew Company

Sept. 27th, at  the NOIAP’s meeting-Windows on the Waterfront, which was about real estate projects in the new “Innovation District” in Boston’s Seaport District, our company’s  President, Patty Chen introduced the Investment Program to Boston’s real estate developers of the “Innovation District”.   David Manfredi, a founder of Elkus Manfredi Architects, described the “promise” of this new district as: a vibrant, new mixed use neighborhood; a neighborhood driven by innovation; a place to live, work, play, shop, dine, learn and visit. At the event, Mayor Menino wanted, and now sees forming, a 24-hour, mixed use area that will attract both families and entrepreneurs. Seaport Place is a developed building with 1 million sq. ft. of office space and a full service hotel, another 600,000 sq. ft. came along with Manulife’s headquarters, and  after a few years of waiting, Joe Fallon built the first office building on Fan Pier, a speculative 526,000 sq. ft. tower at One Marina Park Drive.


9月27日,陈艺平(Patty Chen)在NOIAP波士顿海滨窗口的会议,这是关于波士顿海港一个新的创新区房地产建设项目。我公司总裁陈艺平(Patty Chen)向创新区的开发商介绍了中国投资。Elkus Manfredi的创始人大卫曼弗雷迪(David Manfredi),描述了对这个新地区的“承诺”:一个充满活力,新混合使用的邻里;以邻里为目的的创新项目;一个集工作,玩乐,购物,用餐,学习和访问的地方。在活动中,市长曼宁诺(Menino)表明,他希望这个24小时混合使用区将吸引各类家庭和企业家。海港广场已开发100万平方英尺的办公空间和全方位服务的酒店。还有宏利总部(Manulife)的60万平方英尺。几年之后,乔伦(Joe Fallon)建了风扇码头上的第一个办公楼,并在滨海公园径上建了和一个占地526000平方英尺的塔。

3) Boston’s Developers At NAIOP meeting. L: John E. Drew, President of The Drew Company; Stephen Karp, chairman of New England Development; John P. Fowler, Director of HFF; David Manfredi, Partner of Elkus Manfredi Architects Ltd; Charles D. Reid, Vice President of Boston Global Investors, LLC; Edward G. Nardi, President of Cresset Group


Boston Hub developers going with apartments


A top Bay State developer said he’s not convinced that new condos will ever be built again in downtown Boston, especially since everyone is switching over to apartment towers in the wake of the luxury real estate market collapse.

“I assumed our 21-story residential building would be condominiums,” said Stephen Karp, chairman of New England Development, who expects to break ground on the Northern Avenue project at Pier 4 next spring. “But that market has changed so much over the past few years … we don’t think it will come back for a long time, and we don’t know if it will ever come back.”

Karp — who made his remarks to a packed meeting of the commercial real estate group NAIOP at the Renaissance Hotel yesterday — joined a panel of Seaport developers cheering the successes of Boston’s rejuvenated waterfront with a host of new restaurants and offices. But the enthusiasm was tempered with the realization that waterfront condos will have to wait.

Charles Reid, executive vice president of Boston Global Investors, the Boston-based group that expects to start construction next year on Seaport Square, a 6.5 million-square-foot, mixed-use development including residences, offices and retail shops, said the market is not ready for new condominiums. “The biggest four-letter word — beside bank — is condo,” Reid told the Herald. “No lender will finance condominiums right now. Our first phase will be 1,100 apartments.”

Developers say the glut of luxury units and sluggish sales have kept lenders at bay. Three major luxury projects in the downtown have struggled to sell out their buildings. The W Hotel & Residences on Stuart Street has sold just 46 of 123 units, the nearby Clarendon, closed on 66 of 107 units while 45 Province in Downtown Crossing has 44 of 150 units sold, according to the Warren Group.

John Drew, president of the Drew Co., who is planning a 2012 ground-breaking for Waterside Place — which includes a supermarket and 236 residential units across from the Boston Convention & Exhibition Center — said he switched the project from condos to apartments due to market changes.

But Drew said condos could be a part of future development. “Right now, there’s no interest by lenders in projects with hundreds of condos,” he said. “But the markets run in cycles and at some point, they will be back in favor.”




波士顿环球投资执行副总裁查尔斯里德预计明年启动建设海港广场计划,一个650万平方英尺,包括住宅,写字楼及零售店铺的项目。他同时表示市场还没准备好迎接新的共管公寓。里德告诉导报“:”最大的四个字母的单词 – 除了银行(bank) – 是共管公寓(condo)。 “现在没有人会贷款给共管公寓。我们将在第一阶段建1100公寓。“


德鲁有限公司的总裁约翰德鲁,计划2012年开始海湾广场项目,其中包括从波士顿会展中心对面的一家超市和236个住宅单位。 他说由于市场的变化,他选择了公寓套房而不是共管公寓。

但是德鲁说共管公寓可能是未来发展的一部分。 “现在,贷款人对有数百个公寓的项目一点兴趣也没有”他说。 “但是市场运行都有周期,将来的某天,共管公寓会重新得到人们的喜爱。”