Columbus Center, Boston

In his first public comments on Boston’s controversial Columbus Center project, Gov. Deval Patrick said he will not guarantee state support.

“This is a private development, and I understand they’re working on getting private funding,” Patrick told Banker & Tradesman. “But rather than have public funds tied up in a stalled project, we invested the money in projects that are happening. If they get their private funding, then we can talk. But I’m not making any promises.”

Columbus Center is the $800 million mixed-use project to be built on a 7-acre deck above the Massachusetts Turnpike at the intersection of the Back Bay and South End neighborhoods. If built, the development would include condominiums, a 35-story hotel and retail space. After five years of delay, and a near tripling of the cost, construction began earlier this year. But a lack of funding brought the project to a standstill in April.

Last fall, the Patrick administration withdrew its pledge of up to $20 million in Massachusetts Opportunity Relocation and Expansion Jobs Capital grants for the project. So far this year, Patrick has issued more than $83 million in MORE grants for nearly three dozen projects from Jackson Square in Boston to New Bedford.

The developer, WinnDevelopment, had planned to use the cash to build the deck over the turnpike. The inability to secure funding started a tidal wave that has derailed private and public funding sources, including a pair of loans totaling $20.6 million from MassHousing.

Roger Cassin, WinnDevelopment’s managing partner, declined to comment. Doug Holm, vice president at MacFarlane Partners, the San Francisco-based real estate investment company that is managing the Columbus Center project, did not return a call seeking comment.

Thomas Grillo may be reached at tgrillo@thewarrengroup.com.

Gov. Snubs Columbus Center

by Banker & Tradesman time to read: 1 min
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