April 1, 2008
City Hall Plaza Sold: $51.2M Price Called "Generous"
From the violent busing protests of the late 70s to the twist ending of The Friends of Eddie Coyle, City Hall Plaza has provided the backdrop for many events in the tumultuous history of Boston. It is the vein that carries the lifeblood of the city. But it's also a valuable piece of real estate.
Today, the Globe reported on an initiative the city had been trying to keep under wraps: the sale of City Hall Plaza.
According to the Globe, Dunkin' Donuts will pay $51.2 million for the property, which will become known as Dunkin' Donuts Plaza at Government Center on August 1. Under terms of the sale, companies competing in the sale of "donuts, coffee, flatbread sandwiches, pizza, and other comestibles strongly associated with the Dunkin' Donuts brand" will be banned by zoning restrictions from the area immediately surrounding the Plaza. Another Starbucks fallen.
"Dunkin' Donuts has long owned the hearts and minds of the people of Boston," Jon L. Luther, CEO was quoted in the Globe. "Now we will own one of the city's treasured landmarks, too."
The move is widely regarded as a push to produce more food-based sales for a
company with strong drink revenue.
An unnamed source in City Hall was quoted calling the $51.2 million price tag "generous."
"I won't go so far as to say [Dunkin' Donuts] was ripped off," he added.
What do you think about these developments? It's much needed revenue for the city, sure, but is it worth looking into Rachel Ray's eyes every time you need to get a permit?
Jon Petitt and Caroline Roberts contributed to this post.
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im not really sure about this. They have been saying for ages that they want to move city hall to the waterfront. Does this secure the fact it will stay in gov' center? As a Dunks loyalist, I do find it an odd purchase but I think their marketing may be more planned than my first response/reaction.
Ugh. I didn't even THINK about the Rachel Ray aspect of this...looks like I'll have to find another T stop to get off of from now on.
I do think that if they clean the plaza up and make it look a little nicer that it will be a good thing, but I find it to be a weird purchase for the company too.
That area needs a couple more Dunks. I hope they put at least one on the Congress St side...
that vast expanse of bricks is screaming to be spruced up with some dunkin color...
I, for one, welcome our new donut-y overlords...on this most auspicious day.
Pay your parking tickets in person and get a free small Turbo Ice!
April fools anyone?
ha ha... this is a joke, right?
Well since the tag is "April fools" and the link in the article is to "April fools" on Wikipedia, I think it's a safe bet.
hahah good one