Hotel Alexandra Moving Foward or is it?

27 10 2007

Lets hope! After more than a decade of delays and legal battles, Peter Bakis the owner of the the once grand Hotel Alexandra building says he is proceeding with plans to restore and convert this eyesore into 23 condominiums including a penthouse unit.  He is looking for an opinion from the South End Landmark District Commission as he as been there twice already in recent weeks , which is required for exterior alterations.   It is also said that he has submitted plans to the Inspectional Services Department and has acquired financial backing for the project but is unconfirmed at this point.   The next hearing is Wednesday, November 7th, by then he should have combined all approved design plans from over the years into one set of design plans.  But we have seen this all before…so lets see what happen next.

 Source:  Boston Courant

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Buy Buy NorthPoint

26 10 2007

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 The sale of the troubled NorthPoint project is grinding to a close.

Several developers have shown interest in building out what is essentially a new Cambridge neighborhood and have submitted their final offers, sources close to the process said.

The rights to the landmark project and the roughly 50-acre site it sits on could fetch anywhere from $150 million to $200 million, according to one executive familiar with the project.

The project’s current owners, a joint venture between the Boston and Maine Corp. and a group of local developers, opted to put NorthPoint up for sale this summer. The move came after a bitter court battle erupted between the development partners, with a Delaware judge now overseeing the sale process, sources said.

Executives at Cushman & Wakefield, a commercial real estate firm hired to sell NorthPoint, declined to comment. However, a new owner is expected to be in place by year’s end, according to executives familiar with the sale.

Dozens of companies took out an initial bid package on the 5.5 million-square-foot NorthPoint project, according to one executive.

The final number of bidders is much smaller, with four or five serious contenders remaining before final offers were recently taken. Top retail developer Steve Karp, who built the CambridgeSide Galleria, is believed to be among those who took a serious run at the project, according to one source. Cleveland-based Forest City Enterprises, which has done extensive Cambridge development, is also considered a likely bidder.

Boston and Maine Railroad, which has a controlling stake in the NorthPoint development partnership, was also seen as a potential bidder, executives said.

However, a legal cloud hangs over the project. The state’s Supreme Judicial Court ruled this spring that NorthPoint, under current laws, is required to undergo a Chapter 91 environmental review. The ruling came after the project’s developers had secured the city and state permits needed to begin work on NorthPoint.





The Abbey Group partners with Exhale spa on 45 Province luxury condos

26 10 2007

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The Abbey Group has partnered with exhale mind body spa to open its newest Boston location at the residential project known as 45 Province.

The full-service, 138-unit luxury condominium project is located at 45 Province St. between Boston’s Downtown Crossing Shopping District and the Boston Common. The Abbey Group expects construction of the building to be completed by 2009.

The addition of exhale will offer residents access first-class amenities including a private multi-level gym and spa with a 40-foot indoor/outdoor lap pool, hot and cold water circuit and a rooftop meditation garden. The partnership with exhale will also provide residents with the option for in-home spa services and private fitness and yoga training.

Other amenities at 45 Province include valet parking, a parlor with a library, a lounge and screening room, a dining room with a catering kitchen, a celebrity chef restaurant and 24-hour concierge.

Exhale’s first Boston location opened at the residential building Heritage on The Garden in 2004. The 13,000-square-foot spa features 15 treatment rooms, a yoga studio, retail lobby and other spa services