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Hotel builder changing up plans again

Written By Unknown on Sabtu, 21 Maret 2015 | 20.25

The company behind a proposed hotel in Boston's Theatre District has again switched its development strategy, this time reverting to plans for a microhotel, with increases in the number of rooms and the building's height.

Amherst Media Investors now is planning a 23-story microhotel with 346 smaller rooms and a rooftop bar at 240 Tremont St.

The microhotel concept attracts younger, mobile guests who rely to a greater degree on walking and public transportation, the Summit, N.J.-based outdoor advertising company said in a Boston Redevelopment Authority filing, arguing the project's effects on traffic and parking therefore would be "negligible" despite its increased size.

Amherst also has new development partners: Dallas' Highgate Capital Investments, which has a hospitality arm, and New York real estate investment firm Faros Properties.

"These changes are needed to allow a promising but challenging development site to become an economically feasible hotel," Amherst said in the filing.

The changes follow a string of project revisions since the BRA named Amherst as the city-owned site's developer in 2007, when it proposed a 14-story condo building.

The last changes came in August 2013, when Amherst said it wanted to reduce the hotel rooms from 240 to 202 to increase room sizes and increase the building from 19 stories to 22. Amherst's plans for a three-story, Times Square-like digital video billboard on the hotel's facade were consolidated to the building's corner at Tremont and Stuart streets, and the rooftop bar was removed from the design. Amherst never proceeded with permitting approvals for those changes, however.

The three-story corner digital video billboard remains in the current plans.


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Marty Walsh, mayors to focus on finance

Mayor Martin J. Walsh will join mayors from around the country tomorrow to discuss wage inequality and financial literacy as City Hall says nearly half of Bostonians would struggle to live above the poverty line for three months after a job loss or significant medical expense.

"There's a tremendous need for this in the city of Boston as far as the literacy we have, but it goes deeper than that. People don't have the means for employment and we have to work on that," Walsh said in an interview. "It's a pretty big issue. You hear a lot about people being priced out of the city of Boston."

Close to half of Boston residents do not have enough money saved to survive above the poverty level for three months if they lost a job, Walsh's office said. That number jumps to 
69 percent for African-American households and 75 percent for 
Hispanic households.

"Our unemployment rate is about 5 percent, but in areas like Roxbury, Dorchester and Mattapan, our unemployment rate is higher," the mayor said.

Walsh, Seattle Mayor Ed Murray and others in town for a U.S. Conference of Mayors leadership meeting will speak at UMass Boston on a panel moderated by Boston Federal Reserve president Eric Rosengren.
"It's not just a Boston issue, it's a nationwide issue," Walsh said. "It's an opportunity to bring mayors to the city of Boston to be able to hear testimony from residents of our city, but also talk about sharing best practices on how different cities are handling the issue."


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Icy return of boats not all its quacked up to be

The launch of the duck boats is a rite of spring, but this year even the amphibious vehicles have fallen victim to the unseasonably cold and snowy winter.

Boston Duck Tours will begin its 21st season today, but with some special measures to avoid frozen feathers. The duck boats will either not go in the water at all or make an abbreviated swim thanks to ice still clogging the Charles River.

"Any time you go in the water with ice, it's not a good idea. The Titanic is a good example," said Bob Schwartz, a spokesman for Boston Duck Tours. "It would just not be the safe thing."

The land-water tour company actually pushed back its opening date this year to try to avoid an iced-over Charles, but it wasn't enough of a delay, Schwartz said.

The average temperature in February was more than 12 degrees colder than normal, according to the National Weather Service, and March temperatures have been below normal too.

Duck Tours will be 50 percent off until the amphibious vehicles can make the full water run, which usually lasts around 20 minutes, Schwartz said. For now, if the duck boats take a dip at all, it will last around 10 minutes. If the water is not frozen where the duck boats splash in, the vehicles will make the trip around the mouth of the Charles, but not up the river.

Schwartz said not going in the water will be tough for riders.

"It's such a big draw, that's who we are," he said. "It's the thing that people really want to experience when they come."


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Tests may be breakthrough against Azheimer's

An experimental Azheimer's drug from Biogen Idec dramatically slowed the disease's progression in a small study — a stunning finding that analysts and doctors say could save millions of lives and lead to a financial boon for the Cambridge biotech firm.

"The results are incredibly promising," said Ravi Mehrotra, head of Global Biotechnology Research at Credit Suisse in New York. "What's very interesting with Alzheimer's is it's obviously a huge market, and because of the aging population, that number is going to continue to grow."

The 166-person study showed a significant decrease in both cognitive decline and amyloid plaque — the sticky substance that builds up in the brains of Alzheimer's patients — in those who took the drug aducanumab rather than a placebo.

Biogen's stock soared after the findings were announced yesterday, spiking briefly to a record high of $480.18 per share, before closing up 9.76 percent.

If the drug's success holds up in later trial phases, Biogen has the potential to produce a $10 billion worldwide drug, and see as much as a 50 percent increase in revenue, said Michael Yee a San Francisco-based analyst at RBC Capital Markets.

"The big picture is that these results are very exciting," said Yee. "Obviously that's tremendous because it could be transformative for the company."

Biogen Idec said the initial results were so promising that it will skip Phase II and go directly to Phase III of the trial, which will involve a participant pool of at least 1,000 people.

This is "relatively rare" in the research world, according to Dr. Tinatin Chabrashvili, neurologist and director of the Dementia Clinic at Tufts Medical Center.

"Something like this only happens when there are quite convincing results," Chabrashvili said. "The results look very good."

There are more than 5 million Americans with Alzheimer's disease, and that number could triple by 2050 without medical innovations, according to Jim Wessler, president and CEO of Alzheimer's Association Massachusetts New Hampshire chapter.

It's the only disease on the list of the top 10 causes of death in the United States that does not have a treatment that slows or stops progression, he said.

"Alzheimer's is the most expensive disease in America, more than heart disease and cancer, because you have both medical care and care-giving requirements," he said. "People on average after diagnosis will live for eight years and the range can be up to 20 years. It's a long, slow, deteriorating disease."


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Potent groups take sides on bipartisan House Medicare plan

WASHINGTON — A budding bipartisan deal to shelter physicians from Medicare cuts, championed by the House's two top leaders, is drawing powerful allies including the American Medical Association and a rainbow of conservative and liberal groups.

House aides released an outline of the emerging measure late Friday, and it confirmed what lawmakers, aides and lobbyists have described for days. The package is studded with provisions that draw many Democrats, including two more years of money for the Children's Health Insurance Program and community health centers, plus language boosting Medicare costs for some beneficiaries that appeals to Republicans eager to retool the costly program's finances.

The effort to resolve a problem that has exasperated Congress for years has been pressed by House Speaker John Boehner, R-Ohio, and Minority Leader Nancy Pelosi, D-Calif. Their rare alliance has given the proposed deal momentum among lawmakers of both parties eager to be rid of the issue.

The proposal is also attracting powerful foes and its fate is not guaranteed. A House vote seems likely late next week, shortly before Congress begins a two-week spring recess, but what will happen in the Senate is less clear.

Citing the plan's increased Medicare premiums for high earners and other increased costs for beneficiaries, AARP — the senior citizens' lobby — said the package "is not a balanced deal for older Americans." With most of the measure financed with deeper federal deficits, the conservative Club for Growth urged lawmakers to vote "no" because it "falls woefully short" of being paid for.

Some House liberals and Senate Democrats have criticized the measure for not extending the children's health program for four years, raising Medicare premiums and restricting abortions at community health centers.

The measure got a boost Friday from the liberal Families USA, which cited the importance of financing the children's health program and providing for the 8 million children it serves. "Keeping the program's funding extension is essential so we don't move backwards," said Ron Pollack, the group's executive director.

Also voicing support was Robert Wah, president of the American Medical Association, who said it was time for Congress "to seize the moment and finally put in place reforms" that would end the constant threatened cuts and strengthen Medicare.

At its core, the plan would block a 21 percent cut in doctors' Medicare fees looming April 1. It would replace a 1997 law that has threatened similar reductions for years — which Congress has repeatedly blocked — with a new formula aimed at prodding doctors to charge Medicare patients for the quality, not quantity, of care.

In a first hint of some of the measure's fine print, Friday's summary said it would let the government withhold 100 percent of any delinquent taxes providers owe from their Medicare reimbursements.

As for winners, the agreement would prolong federal payments to Tennessee hospitals that treat low-income people through 2025.

It would also help major producers of durable medical goods and prosthetic devices by penalizing low-ball bidders for Medicare business. That provision comes from a House-passed bill sponsored by Rep. Pat Tiberi, R-Ohio, whose state is home to Invacare Corp., one of the country's largest makers of home medical devices like wheelchairs.

The one-page document provides no price tags and few specifics. But as lawmakers, congressional aides and lobbyists have said for days, it would cost roughly $210 billion over a decade, with around $140 billion financed by adding to federal deficits, aides said Friday. The remaining $70 billion would be split about evenly between Medicare providers and beneficiaries.

In a letter to House Democrats on Friday, Pelosi hailed the measure for "providing certainty to our seniors and stability to providers." On Thursday, Boehner said it was a chance to "solve this problem once and for all."

According to the summary and aides familiar with details:

—About 2 percent of the country's highest-earning Medicare recipients would face higher premiums for doctor and prescription drug coverage. The higher premiums would apply to individuals earning between $134,000 and $214,000 and couples earning between $267,000 and $428,000.

—Starting in 2020, some people buying Medigap plans — they insure expenses Medicare does not cover — would pay higher out-of-pocket costs up to the Medicare deductible for doctors' coverage, currently $147 annually.

—A 3.2 percent increase in Medicare payments to hospitals in 2018 would instead be phased in over six years.

—Nursing homes, hospices and home health providers would be held to a 1 percent Medicare increase in 2018.

—Scheduled cuts in payments to states for hospitals treating poor patients would be delayed a year to 2018 but also extended through 2025.

—Programs that help poor seniors pay Medicare deductibles and help some families keep Medicaid coverage as they move from welfare to jobs would become permanent.


20.25 | 0 komentar | Read More

The Ticker

Written By Unknown on Jumat, 20 Maret 2015 | 20.25

New Bedford inks 
casino, developer dealer reach casino deal

The developer of a proposed casino in southeastern Massachusetts has reached an agreement with New Bedford as the company competes for the state's final resort casino license.

New York City-based KG Urban Enterprises said yesterday that the agreement calls for a $4.5 million upfront payment to the city, followed by $12.5 million in annual payments once it opens its doors. The proposed casino would be managed and operated by Foxwoods in Connecticut.

The New Bedford development is among three plans vying for the southeastern region casino license. It's going up against proposals in Somerset and Brockton.

The Gaming Commission already has deemed Mass Gaming & Entertainment's initial application for casino on the Brockton fairgrounds "substantially complete."

Residents in that city are to vote on the casino proposal May 12.

Wonderland Ballroom for sale

The owner of the Wonderland Ballroom in Revere has put the property up for sale as a possible transit-oriented development site.

The 28,056-square-foot parcel, which includes the nightclub with available space of more than 30,000 square feet, could potentially accommodate up to 100,000 square feet of development, according to Boston broker TR Advisors.

Allowable uses include multi-family residential, general and professional office, hotel, restaurant and retail projects.

Owner Robert Merowitz previously eyed selling the site for a hotel development if a casino had been approved for the nearby Suffolk Downs.

The ballroom hosts mostly Latin and reggae music events on weekends.

FAA says Amazon can test drone

Amazon.com Inc. has won federal regulators' approval to test a delivery drone, as the e-commerce giant pursues a vision of speeding packages to customers through the air.

The FAA said yesterday that under the provisions of the experimental airworthiness certificate, the flights must be conducted at 400 feet or below during daylight hours.

The drone must also remain within the line of sight of the pilot and observer.

The person flying the aircraft, meanwhile, must have a private pilot's certificate and current medical certification

  • Nickerson, a full-service communications agency offering an integrated blend 
of marketing and public relations, announced that Kevin 
McMahon, left, photohas joined its growing team as director of social media and digital content. McMahon is responsible for developing and growing comprehensive social media programs to reach specific target audiences across a broad range of social and digital channels.

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Boston firm unveils latest in ‘collaborative robots’

A Boston robotics company has unveiled the latest in what it says will be a "family" of manufacturing robots that work alongside humans.

"We've always envisioned a family of smart, collaborative robots," said Jim Lawton, an executive with Rethink Robotics. "Sawyer is smaller, more compact, and easier to integrate into manufacturing."

Sawyer is the company's second manufacturing robot, and it is designed to automate routine, monotonous tasks including what's known as machine tending, which includes actions as simple as pushing a button and then waiting. Rethink's first robot, Baxter, can do the same thing, but it has two arms and is more suited for tasks such as packing and organizing.

"Sawyer's designed to do a whole new set of tasks," Lawton said. "We'll have Sawyers and Baxters operating next to each other, with each other."

Retailing for $29,000, Sawyer has one arm and the same friendly computer face as Baxter. Called "collaborative robots" by the company, Sawyer and Baxter can work next to humans, and are easy to teach and program by moving them and showing them what to do.

Sawyer and Baxter are part of Rethink's efforts to have robots rather than people do the mindless, boring jobs in manufacturing rather than people, and Lawton said Rethink is already working on its next robot.

"You'll see more people supervising robotics technology and less people doing these dangerous and repetitive tasks," Lawton said. "Instead of being the person standing in front of the test, I'm the person managing a dozen robots."


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Target breach settlement on track for $10M

A Boston lawyer, whose suit against Target Corp. over its staggering 2013 data breach was consolidated into a national class-
action complaint, endorsed a 
$10 million settlement that yesterday won preliminary approval.

Preston W. Leonard said the settlement in federal court in Minnesota is a "good result for consumers."

"This case and others like it hopefully will encourage retailers to do more to safeguard consumer data when they check out," Leonard said. "I was encouraged that under the settlement, Target will appoint a chief information security officer. That is a responsible approach to handling data in this climate."

U.S. District Judge Paul Magnuson scheduled a Nov. 10 hearing for final approval of the settlement.

Leonard and numerous other lawyers across the country filed class-action complaints after about 40 million Target customers' credit and debit card accounts were compromised by hackers between Nov. 27 and Dec. 15, 2013 — the height of the holiday shopping season.

"The criminal element out there is growing, it's sophisticated, and it's hard to stay ahead of," said Massachusetts Attorney General Maura Healey, whose office is continuing its multi-state investigation into the 
Target breach.

Under the class-action settlement, affected consumers can file for up to $10,000 with proof of their losses, including unauthorized charges, higher fees or interest rates, and lost time dealing with the problem.

John Chapman, undersecretary of the state Office of Consumer Affairs and Business Regulation, said its website, www.mass.gov consumer, will walk people through the process once the settlement is final.

The settlement would also require Minneapolis-based Target to keep a written information security program, offer security training to its workers, maintain a process to monitor for data security events and respond to such events deemed to present a threat.


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Hot Property: Southie church split up into 20 luxury condos

Luxury condos in the former St. Augustine's Church in South Boston have hit the market, offering buyers an opportunity to live in new, modern units amid high Victorian Gothic architecture, with soaring ceilings and arched windows.

Twenty two- and three-bedroom condos are taking shape in the former Catholic church on Dorchester Street — each of them two or three levels — and another nine one-bedrooms will occupy the attached former rectory. Prices range from $649,000 to $1.29 million for the roughly 1,000- to 2,000-square-foot units.

After four months of demolition work, the property is still under construction, with an Aug. 31 scheduled completion date by owner Brenco Construction of Milton.

Condo interiors won't have exposed brick or stained glass windows, but the ornate arched frames will be preserved and fitted with new custom windows — including a massive one in the penthouses' lobby that will provide views of the Boston skyline and landmark buildings such as the John Hancock tower.

"It's going to have a contemporary feel inside," said Jacob Carlin, the property's exclusive listing agent and the owner of JW Brokerage in South Boston. "The church was in such disrepair that it was hard to try and save some things."

Features will include hardwood floors, tile bathrooms, professional-grade, stainless steel appliances, granite kitchen countertops, surround sound, walk-in closets and in-unit laundry hookups. Master baths will have walk-in showers with glass surrounds, while the guest baths will have soaking tubs and showers.

Garage parking is being added underneath the church in its former function hall, and residents will have an elevator and access to a clubroom with a kitchenette, surround sound and a flat-screen television.

Built in 1874, the church was designed by Patrick Charles Keely, an Irish-born architect heralded as the most prolific designer of Catholic churches, with more than 600 to his credit, including the Cathedral of the Holy Cross in the South End and more than 30 others in Massachusetts. Under mounting financial pressure, the Archdiocese of Boston closed St. Augustine's in 2004, and the city's Landmarks Commission denied a petition to designate it as a landmark.

The former church's red-brick facade is being preserved and will be repointed, and the slate roof will be maintained. The massive center entrance with its wooden doors and ornamental iron fixtures also will be preserved.

"Obviously the architecture of the church is something we could never replicate now — it would be too expensive," Carlin said.

Carlin has two of the condos under agreement for $775,000 and $1 million — close or at asking prices, he said — and has offers for another four units.


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BRA chief touts disclosure rule

If Massport adopted the same policy as the BRA on requiring developers to divulge names of equity partners, it would shed light on the silent investors on bids to build an $800 million mega hotel in the Seaport District, the head of the city authority said yesterday.

"People should know who is having a significant development interest going in their neighborhood and how they have behaved.

There are community groups and neighbors who might be OK with a development proposal but not happy with the development team," Boston Redevelopment Authority Director Brian Golden said in interview after an appearance on Boston Herald Radio.

"They deserve to know what their reputation is, what their history has been, are they solid citizens, and solid performers."

Golden explained that one of the driving forces behind the disclosure requirement his agency adopted last year is that it aims to expose any conflicts of interest among investors in a development project, particularly among BRA staffers or their relatives.

"One important reason for that is to do a conflict-of-interest scrub," he said. "We need to know who is investing in projects for our own parochial interests so we could identify conflicts of interest between investors who might be related or have some kind of connection to BRA staff."

Massport is overseeing the bid process for the proposed 1,200-room headquarters hotel on Summer and D streets that is part of the $1 billion expansion of the Boston Convention and Exhibition Center.

The authority has not released the six bids by developers to build the hotel and does not have a policy requiring equity partners to be divulged.

But Massport CEO Thomas Glynn told the Herald this week that the BRA edict is a "good idea" and he hasn't "ruled out" adopting a similar policy.

The Herald reported earlier this week that two former board members of the Massachusetts Convention Center Authority — former U.S. Sen. William "Mo" Cowan, who also served as chief of staff for former Gov. Deval Patrick, and developer Dean Stratouly — are part of a development team looking to land the hotel deal.

The MCCA board and Massport's board will each vote to choose the winning bid.

Golden, while appearing on Herald Radio's "Morning Meeting," also blasted the controversial deal that gave the Boston Red Sox the right to use Yawkey Way forever as the "consummate behind-closed-doors, opaque transaction."

Golden said a new policy, requiring the agency to hold public meetings and a 10-day open comment session before giving away city-owned land, will greatly increase transparency and prevent what happened in September 2013, when the agency kept the public in the dark on the terms of its deal with the Red Sox up until just before the board's vote on the $7.3 million pact.

No public forum was ever held.


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