Feb 2008 11

Jeez…I really wish this project would just move forward. 

Archon, who recently signed a purchase and sale agreement to purchase NorthPoint, said it is cancelling its $177 million dollar agreement.

The seller seems to think it is a negotiation tactic because “Archon did not want to commit to paying an $8 million deposit yet.”

I really would love for this deal to move forward because I think this project is one of the most exciting in the Boston area.  I just toured and rented the first apartment at the new rental building in NorthPoint which opened this past Friday and I was very impressed.  My client really loved the fact that it was so close to the Lechmere T station and even walking distance to downtown Boston. 

This is just the first phase of the 40 plus acre development which will include a new $70 million “T” station and wide open greenspace.  Let’s hope they come to an agreement soon and get moving on the development!

 

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