Olympic u-turn: Private investment would buy ‘Midtown’

[unhappycamper]

http://www.bostonherald.com/business/real_estate/2015/06/olympic_u_turn_private_investment_would_buy_midtown



LAND GRAB? The co-op that owns the site of New Boston Food Market fears its Widett Circle plot of land could be taken by eminent domain for a possible Olympic stadium site.

Olympic u-turn: Private investment would buy ‘Midtown’
Jack Encarnacao
June 18, 2015

The CEO of Boston 2024 endorsed a scenario in which Boston would tap a “master developer” to buy up land and build out a new neighborhood around the planned Olympic Stadium in Widett Circle, a task that originally was to fall on the city and rely entirely on tax dollars to finance.

Richard Davey told the Herald yesterday he thinks a master developer arrangement “makes the most sense” to build out the envisioned “Midtown” neighborhood around the Olympic Stadium.

“I think it could be potentially the most lucrative for the city of Boston,” Davey said. “Obviously the city has to ultimately decide that. We also think a master developer could accomplish a lot of the goals that are set out — more open public space, more affordable housing, and a quicker engine to create jobs.”

A spokesman for Mayor Martin J. Walsh said he is “open to considering a number of different potential arrangements for Widett Circle and looks forward to exploring options that do not include public money for land acquisition.”

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Since the natives don't want to be fleeced into paying for this pipe dream, let's use imminent domain for a land grab.

More to come....

[Fearless]

1. We still don't want it.