Developer can't find money to fill Filene's Memorial Hole, but has more than enough to help build Suffolk Downs casino

By adamg on Thu, 07/15/2010 - 11:46am

Why, hello, Vornado Realty Trust! Blue Mass Group reports.

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Makes sense, since casinos are hot...housing/offices are not

By Mmary on Thu, 07/15/2010 - 2:42pm.

Pretty simple investment equation. Everyone wants a bite of the casinos when they come so developers can find investors, but there is a glut of residential and commercial real estate so investors are not interested. I don't see anything suspect behind that. The BRA has even recognized this by allowing developers to drop affordable units in projects because they can't sell the market rate ones.

The mayor is not exactly rolling out the welcome mat to potential city investors when he threatens to refuse to deal with a company in a tight spot on a separate project because of factors beyond their control.

Are you really surprised?

By Will LaTulippe on Thu, 07/15/2010 - 4:09pm.

Menino doesn't do "welcome mat", he does "do what I say."

"In a tight spot"

By Dan Farnkoff on Fri, 07/16/2010 - 3:58am.

because of their own incompetence and short-sightedness, at least in part. Vornado can screw, as far as I'm concerned. They basically defecated in the middle of the city.
And I thought Menino should have hung it up years ago, so I'm no partisan of his. It's partly his fault as well.

don't confuse them with the facts

By aging cynic on Sat, 07/17/2010 - 1:07am.

Menino hates capitalism when it gets him votes and loves it when it lines his pockets. As a REIT, Vornado has a fiduciary responsibility to the people who buy their SEC-registered securities. Are they supposed to screw their investors to make Tommy Two-Hands happy?

When you pull the handle, a

By anon on Thu, 07/15/2010 - 3:24pm.

When you pull the handle, a bunch of money pours out and lands on the 6th floor in city hall.