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Deadline Arrives for Boston Development Team to Pick Hotel Proposal.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, November, 2000 by Kindleberger, Richard
Nov. 25--It's time to put up or shove off for the team picked to develop and operate a $270 million hotel attached to the convention center being built in South Boston.
A deadline, previously extended, arrives Monday for the joint venture of Starwood Hotels & Resorts Worldwide Inc. and Carpenter & Co. It has until then to post a $14 million nonrefundable deposit and say it will go forward -- or hold on to its money and abandon the project.
With the 1,120-room hotel the only one of its size proposed near the convention complex, it is vital that it proceed, Patrick Moscaritolo, president of the Greater Boston Convention & Visitors Bureau, said yesterday. Without the hotel on track to open at the same time as the center, in late 2003, it will be...
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