Tuesday, July 21, 2009
Southfield Roller Coaster
After more than ten years of planning and meeting and squabbling the Southfield project partners, LNR and Tri-Town finally appeared to extricate themselves from the Twilight Zone when they announced plans to move ahead with the long anticipated movie studio. This was good news to all us Wahey's who found the lack of progress there easy fodder for criticism. Before we get too excited however, it might be advisable to keep the barf bags close by in preparation of the roller coaster ride we no doubt will be experiencing next.
On the one hand we can expect the movie studio construction to loosen some money up and attract other investors, thus allowing LNR to move forward with their residential and commercial plans. As we write this, it only makes sense to anticipate some interest by those parties wanting a share of the attractiveness of Southfield. That would be the ride up. The downside of the roller coaster and how steep the ascent will be depend on Federal stimulus money. If LNR Properties was counting on this money to help with construction of the access corridor from Route 3, as well as the continued improvements to Route 18, they may have to brace for a rude awakening. Massachusetts, partly because of the recession and more probably due to their poor management of the Big Dig project and the MBTA, may not receive the Federal help as originally expected.
It already appears that the widening of Route 3 from Weymouth to Duxbury, which anyone living on the South Shore can attest has been in the works for about 20 years will again be placed on hold. Without the widening of Route 3, we're not sure why the Feds or the Commonwealth would invest in the Southfield Access Road. When these things don't happen, will it affect Southfield's attractiveness? And what about the deal for the rest of the Air Base property? Hopefully LNR and Tri-Town can ride it out. One can easily foresee that nothing in the present economy can be a sure bet. So prepare for a bumpy ride at Southfield.
POSTED BY STAN on July 21, 2009
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