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Monday, March 15, 2004 |
Well, Something's Being Shoveled
The Boston Herald reports that Frank, in his efforts to sell his Fan Pier-adjacent property, has been telling folks that it's pre-permitted for the projects he envisions. Trouble is, it isn't:
And McCourt's pitch appears to go awry when he claims the land is ``shovel ready'' and has a special City Hall development designation needed to undertake major development projects, contends one local real estate executive.Looks like Frank's been shoveling something back in Boston, but it ain't dirt. I wonder if this will have a negative effect on the value of his property since it seems he doesn't have any of the permitting done?McCourt, who for years has operated a lucrative parking empire on his Southie land, does not have any city or state permits to build the projects detailed in his property sales prospectus, city officials confirmed.
"There is a very, very specific process you have to go through before you can build anything,'' noted Bill Collins, senior vice president at Spaulding & Slye Colliers International. Collins' firm spent years obtaining permits for a $1.2 billion project on the neighboring Fan Pier site.
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