BOSTON— After years of false starts followed by a major financing crunch after Sept. 11, the Crosstown hotel project in Roxbury, MA has finally nailed down the funding needed to move forward, the Boston Herald reported. A $65 million package of tax-exempt bonds, city dollars and grants means developer Kirk Sykes can begin construction later this fall on a 175-room hotel and a 650-space parking garage at the high- profile Roxbury site. A second phase, now in the planning stage, includes a large block of office space, retail shops and restaurants. The hotel will take shape on a 6.7-acre parcel off Melnea Cass Boulevard and Massachusetts Avenue near ramps for the Southeast Expressway. The planned hotel, coupled with the redevelopment nearby of a 19th century warehouse building into a Best Western, will help to create a bustling image for the Roxbury neighborhood. Mayor Thomas Menino attended the groundbreaking ceremony Oct. 3, stating the project “will pay dividends for generations to come.” The project came close to falling apart more than once. An earlier plan a few years ago for a large office and cinema complex collapsed after the pullout of one of its financial backers. SOURCE: Boston Herald
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