NY Developer Inks Deal For $500M Stalled Boston Tower

Law360, New York (February 3, 2012, 3:50 PM EST) -- New York developer Millennium Partners has agreed to take a 50 percent stake in a long-stalled, $500 million project at the former Filene's Basement LLC site in Boston's Downtown Crossing neighborhood, relegating owner Vornado Realty Trust to a minority role, Mayor Thomas M. Menino said Friday.

The building would rise 500 to 600 feet from a gaping hole left by Filene's 3 1/2 years ago to include retail, office and residential space, and is expected to begin the construction process by the end of this year,...
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