IKEA TELLS CITY IT WILL LET ASSEMBLY SQUARE PERMITS EXPIRE
Mayor Receives Letter Announcing IKEA Has No Plans to Build Additional Stores in Region “for the Foreseeable Future;” Noting Likely Interest from Other Developers, City Will Ensure that Future Uses of IKEA Site Conform to Current Vision for Assembly Sq. D
“We anticipate that there will be considerable interest in this prime parcel, which will now be developed in accordance with the same transit-oriented, mixed-use, smart-growth principles that characterize Federal Realty’s approach at Assembly Row and – more important – that reflect our community’s vision of the way the entire district should be developed. We’re sorry to lose IKEA as a partner, and they’ve been very responsible landholders, but frankly, I think we’re going to end up with something even better.”
“It is regretful that IKEA will not be able to take advantage of this great location. They have been a great partner,” said Don Briggs, President Federal Realty Boston. “Assembly Row is moving forward and in fact, has gained significant momentum over the past year – a T Stop is under construction, residential and retail building foundations are forming and preparation for the waterfront park redevelopment has already begun”.
The July 19th letter from IKEA, signed by the company’s
“IKEA operates on a global scale and a business plan may look very different in
IKEA had originally purchased riverfront property on the
“IKEA has been an honorable and cooperative partner to the City over the years, and I’m very grateful for that,” said Curtatone. “Even though they are not going ahead with their plans, they’ve already played a very constructive role in transforming
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