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Developer vows this time massive Fenway development ready to begin

Developer John Rosenthal bounded up to the microphone at the BPDA board meeting this afternoon: "I'm baaack!"

"We are truly ready to go" with the $580-million Fenway Center project, Rosenthal said. Construction on the two initial buildings, itself a $230-million job involving, among other things, 313 residential units, should begin this spring, Rosenthal said.

Rosenthal was before the board for two relatively minor changes to the initial two buildings.

He told the board he now has financing in hand - and that his lender wanted him to start on the first two buildings because they will be built on land, rather than on air rights over the turnpike, because of problems surrounding past air-rights projects, notably the failed Columbus Center project on the Back Bay/South End line.

Rosenthal has been trying to build the center for some 20 years - he paid for and oversaw construction of the Yawkey Way commuter-rail station as part of the work.

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Comments

Rosenthal will walk away with the taxpayer money Walsh gave him when the land bound buildings are complete and never finish the air rights phase.

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Has anyone seen what the going rate on those 300+ residential units is going to be yet? I can't seem to find any info on them at the Fenway Center hype-site.

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many, many bostonians avoid fenway like the plague. you couldn't pay me enough to live with baseball fans 81 times a year.

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That's why no residential units have been built along either Brookline Avenue or Boylston Street in the Fenway. It's a G-D wasteland over there.

Speaking of which, did they ever find anyone to take over the space where Jones's was on East Broadway? We should meet up at Ocean Kai and discuss this.

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I used to live near St. Marys Street just over the line in Brookline. I didn't have to deal with the peds, but I did deal with the T riders and the parkers.

It was annoying at times (nobody could possibly visit by car at or around game times), but there was also some fun to the life on the sidewalk, excitement, etc.

The apartments need not be attractive to everyone, just a few hundred folks with fairly deep pockets looking for a place to live.

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$1250 per sf is probably what new construction in that area for a condo goes for. Give or take.

2000 sf apt = $2.5 mill sounds about right plus or minus a garage spot for $250 k.

Just a guess.

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I don't know any more than you do (probably less!) but I'd guess you're about 20% high on both the living and parking prices.

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