In an article today, Friday, August 10, 2012, the Boston Business Journal writes about the soon to start renovation of the Boston Idle Org.
the link to the article
Church of Scientology renews pledge to restore Alexandra Hotel
Boston Business Journal by Thomas Grillo, Real Estate Editor
- Thomas Grillo
- Real Estate Editor- Boston Business Journal
Restoration of the blighted former Alexandra Hotel at the edge of Boston’s Roxbury and South End neighborhoods could finally get underway by spring.
Four years after the Church of Scientology bought the dilapidated five-story red and buff-colored sandstone building at Washington Street and Massachusetts Avenue with the dream of restoring it, the church says the delay to transform the 137-year-old landmark into its headquarters is nearly over.
“We are much closer to getting this project off the ground than ever before,” said Kevin Hall, a church spokesman.
In 2008, the church paid $4.5 million for the property. But the cost to restore the landmark was estimated at $17 million. To come up with the cash, the church listed its 27,765-square-foot headquarters on Beacon Street in the Back Bay for sale at $12.5 million in 2010. But the Richardsonian Romanesque-style mansion brought offers that were far short of the asking price, Hall said. Today, he said, the real estate market is hot and the church has several interested buyers.
For more, read “Rehab on Alexandra Hotel ahead” (premium content).