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| Vornado to redevelop Boston Filene's property Vornado Realty Trust has entered into a 50/50 joint venture with Gale International, LLC to acquire and redevelop the Filene's property located in the Downtown Crossing district of Boston, which Vornado had agreed to acquire from Federated Department Stores, Inc. The Joint Venture will purchase the property for approximately $100 million and is expected to close in the first quarter of 2007, subject to customary closing conditions. Current plans for the development include over 1,200,000 square feet consisting of office, retail, condominium apartments and a hotel. The project is subject to governmental approvals. write your comments about the article :: © 2006 Construction News :: home page |