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BRA gets bids up to $151 million for old Winthrop Square garage

The Boston Business Journal reports the latest on the city's efforts to make some money by letting somebody put up a skyscraper on the 1-acre site.

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Comments

1. Are proceeds still going to the city, as a few reports had previously stated would happen.

2. Didn't the director of the BRA testify the land was worth about $10 mil?

If the answer to both questions is yes, this is great for the city, and further proves that corruption and stupidity do indeed run rampant at the BRA.

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Don't worry our AG will be right on it.

/After she finishes bankrupting mom and pop businesses and banning activities/products she doesn't like.

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1. Since all communication on behalf of the city's interests is being made by the BRA's spokesperson, it looks like the city has indeed ceded control of the property to the BRA, most likely on the same "keep it for an unknown length of time, and when you're done, pay us back whatever you earn minus your costs" agreement they had back in April. Since the BRA is a giant pit into which money vanishes, I doubt the city will get anywhere close to $150 million from the sale. If they get half of that, I'll be shocked.

2. Yep. With the tenuous justification of "If we assess it at what it's REALLY worth, we won't get bids for it," which is transparent horseshit.

Marty Walsh ran on the platform of reforming this bunch of ticks and leeches, and since taking office he's bowed to their every request. This latest round is going to siphon between $50 and $100 million out of the city's pockets and into the BRA's. This should be a scandal the size of Whitey, but Adam is the only one reporting on it.

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I could be wrong but I think The Boston Business Journal might also be reporting this story?

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