Wednesday, October 28, 2009

Encouraging News on the Railway Exchange

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.

2 comments:

Anonymous said...

It should read "Rick Yacky", not "Yawky"

Brian said...

^
Actually, it's Yackey - we're both wrong.