Encouraging news on the Railway Exchange Building has emerged.
Mayor Slay is reporting that Rick Yawkey and Bill and Brian Bruce have the building under contract for $18.5 million, and are set to close in January. The developers are planning a $122 million overhaul and have requested $28.7 million in subsidies for the project.
The Macy's department store would be downsized from seven floors to a more manageable three floors, more consistent in size (125,000 sf) with the chain's more recent stores. Macy's would also lease floors 9 and 10 for office space.
The remaining space would be leased for office an other "non-residential" use. The developer is already in talks with prospective tenants.