Real estate investment trust Boston Properties Inc. (BXP) is facing severe criticism from the public as well as the state agency of the Boston Harbor Association for reneging on its promise.
Boston Properties had earlier promised to provide free public-performance space on the first floor of Russia Wharf, its 854,000 square feet mixed-use development project along Boston’s waterfront. In exchange, the company was allowed to exceed the 155-feet height regulation for construction on the waterfront. The project is currently designed to be 400 feet high.
However, the Boston Harbor Association alleged that the company backtracked from its promise and was planning to reserve the space for a restaurant. The state agency said that Boston Properties had already sought permission to reduce the size of a ground floor “Town Square” by 200 square feet to 6,100 square feet. The company is trying to relocate a “Multi-Media Presentation Area” of 3,800 square feet from the first floor to the second floor, making it relatively invisible from the street.
Furthermore, Boston Properties plans to add a 2,800 square feet space in the outdoor terrace for a “Multi-Media Presentation Area” that would make year-round lectures and screenings virtually impossible. The modifications in the construction plan have to be approved by the state Department of Environmental Protection, which grants license for waterways development.
Although Boston Properties declined to comment on the proceedings, it has reportedly gone back to the drawing board to revert to its original building plan. The company will unveil the final iteration of the construction plan by next week and the Department of Environmental Protection is expected to make a final decision by mid-October.
Boston Properties develops, redevelops, acquires, manages, operates and owns a diverse portfolio of Class A office, industrial and hotel properties in the U.S. A bulk of the company’s income comes from office properties, which are primarily concentrated in large, high-barrier urban markets that usually fare better in a faltering economy.
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