Same Time Next Year
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It’s been nearly a year since I wrote about the problems that come from
having 11 bosses who are not on the same page about anything, as well as
suggestion...
5 months ago
November 05, 2009
Mike Warshaw
Just was on Fox 25 news for a good 5 minutes talking about the Bay State's top 100 places to work. Looked and sounded good.
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An article in today’s newspaper about office space occupancy rates in Worcester’s central business district trending down.
http://www.telegram.com/article/20091105/NEWS/911050657/1002
From the article, “Timothy J. McGourthy, Worcester director of economic development, said the report showed that occupancy of class A space has increased over the last couple of years, while classes B and C are down.
“According to the snapshot (in the report), Worcester is doing better than most markets” in class A occupancy, he said. “This shows a need for high-quality office space. CitySquare is the next step, and this is a positive sign that Worcester business is looking for good space and will fill it.”
i WONDER HOW MUCH OF THE increase in Class A space rentals the lst fews years represents downtown businesses moving form B & C space to A space...vs new business coming to Worc and occupying A space. Wonder if A space owners are giving it away for short money just to pay the mortgage.
If A space was in demand City Sq would be built and Bill would be out one malt beverage to David....assuming the bet was made way back when????
David, where is the "ceremonial Ground breaking" (vs the real ground breaking) that MOB promised per the T&G back in Mid August?
All these ceremonies are like the days before a wedding....
a. grooom's stag party........
b. bride's night out with gal pals........
c. dinner at brides house the night before the wedding.........
d. then the wedding and the crying bride (and City Sq. groom is a no show)
We need the 4 way wedding (UMUN & City Sq & Wrecking Ball & new construction) and we need it now......no more false starts. I do admire your optiumism though. [g]
BTW, I ask again has Berkely even pulled permits or started any of teh pre-demo work?
Radio spot has been saying women make 72% of the discretionary purchses today. I suggest most of City Sq's grouind floor retail businmesses will represnet discretionary purchases.........i further suggest wimmen aint going to frequent downtown Worc. HOpe I am wrong tho.
Jahn, did you read the article? Your spreading of misinformation or suggested misinformation about downtown via the comments section of this blog continues to blow my mind.
The article says that class A office space cost has gone up.
Gabe says: "The article says that class A office space cost has gone up". I am confused. I am not sure that Class A rates went up?? What am I missing?
1. The Crowley Chronicle says:....
a. 2008 rates = $6-24/ft
b. 2009 rates = $6-30/ft
c. it does not say Class A rates went up
2. The Polar Post says: "McGourty....said occupancy of Class A was up the last couple years".
a. 2008= 88.9% occ'pd
b. 2009= 90.3% occ'pd
c. OK occpy up .004%
d. However, no mention of rental costs per sq ft up.
Gabe, IMO if there was truly a need for Class A space in Worcester, a former banker would have built it by now or the Slater & Commerce building would have been upgraded/demo'ed and re-built or City Sq would be rising from the ashes.
How would you folks feel if you owned downtown comm. real estate for years & years and saw the giveaway of a $25M parking to Berkley/City Sq..........meanwhile you'd love $25M to upgrade your buildings? Ditto's for similar giveaways to The Hand It over Theatre. I'd have a small chip on my shoulder.
Gabe, I try not to spread misinformation so when I am wrong please correct me.
Bill is Charles River Labs on the list of departed businesses?
All I can say is thank God we have a major hospital and a college downtown...although the hospital is barely DT and I am not sure how much foot traffic it generates for DT.
The pregnant moment for City Sq. has lasted too loooong. The Mom to be is in need of more intraveous pain killer. Late 2005 to late 2009 and counting. The agreemnt in principle with UNUM is just that...nothing more. I will cut them some slack due to teh overall economy...but the continued silence is deafening.
At least show me the demo permits and the financing. What triggers the $25M giveaway for City Sq.....teh siging of the agreemnet or the demo work being completed. This idea of these upfront giveaways is foolishness. Witnees what has just happeend at Devens with Evergreen (Solar?) Comapny......all kinds giveaways and now they move jobs to Asia. Build the project out...then you get your $25M. Paying upfront for work to be completed is like dealing with the driveway gypzies who aint even got enuff money to front the gravel base...never mind the asphalt paving material.
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