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Chesto means business
Looking to script a happy ending: The pieces of a new neighborhood on Revere Beach are finally falling into place.
There’s the long-closed Wonderland racetrack, in the news now because a redevelopment deal is in the works. Revere Mayor Brian Arrigo tells me he would like to see a mixed-used project built on the old dog track’s roughly 35 acres, akin to MarketStreet Lynnfield or Assembly Row. He also hopes there could be room for a big office tenant — like the Partners HealthCare complex at Assembly — and a new commuter rail station on the tracks next to the property.
Then, look across Route 1A, toward the ocean. This spring, the MBTA and Revere are expected to complete a $4.9 million sale of three acres that the T owns on the other side of the Wonderland train station. Lixi Group will build a 160-room, Marriott-branded hotel there, and Gate Residential will develop a nearly 300-unit apartment building next door. New restaurants will offer water views and draw added foot traffic. For Arrigo, who is in his first term, this T deal represents a crucial phase in the Waterfront Square development that’s been in the works for nearly two decades and has already brought hundreds of apartments to the shoreline.
The 1998 romantic comedy “Next Stop Wonderland” wraps up with the prototypical happy Hollywood ending, at the end of the Blue Line. Arrigo looks at the empty or underused lots around Wonderland and sees a similar kind of conclusion, right around the corner.
Jon Chesto is a Globe reporter. Reach him at firstname.lastname@example.org and follow him on Twitter @jonchesto.
The golden Goose: Canada Goose, that is. The company known for its high-end outerwear took flight Thursday in its debut on Wall Street (and on Toronto's Bay Street).
The initial public offering for Canada Goose in the States was priced at $12.78, but opened at $18. By midday, the stock had cooled off a bit, but was still well above expectations. Canada Goose closed its first day of trading at $16.20.
Its overall warm reception is a boon for Bain Capital, the Boston-based venture capital firm that invested heavily in Canada Goose prior to the IPO. Bain plans to continue to hold a controlling stake in the retailer.
Devilish without details: That’s the initial take on President Donald Trump’s first budget proposal . It boasts increased military spending, while taking aim to cut diplomacy, environmental programs, and programs for the poor.
The budget proposal is short on details.
Trump’s spending plan builds on his “America First” motto. It cuts spending on diplomacy and the United Nations, while beefing up allocations for homeland security. Of course, any budget has to be approved by Congress before it moves on to the president to be signed into law. Expect a lot of changes along the way.
Not out of the woods: A controversial housing development planned in West Roxbury is facing a court challenge.
Allandale Woods, an 18 townhouse project, is the target of a lawsuit by neighbors near the border of Jamaica Plain. The Friends of Allandale Woods Coalition filed the suit alleging that the developer did not demonstrate the types of hardships that would warrant the variances it received from city zoning officials.
The suit sets up a showdown between Mayor Martin J. Walsh, who supports the development, and neighbors of the proposal who are looking to protect nearby conservation land.
This might get a few likes on Facebook: A Cambridge-based startup is responsible for a new service on Facebook that allows users to shop for car insurance.
From Xconomy Boston: Insurify’s new service uses a “chatbot” to become a virtual agent.
Insurify also announced $4.6 million in new capital, bringing its total to $6.6 million. The service is available to customers in all 50 states and gives them the opportunity to shop from more than 100 insurers.
A Big Mac attack: McDonald's found itself in the middle of the latest Twitter controversy after an unflattering tweet about President Donald Trump was posted on the fast-food giant's verified account. The company has removed the tweet and is investigating how its account was compromised.
GE takes baby steps:
UK maternal and infant care company acquired -- Boston Business Journal
Buying a house will cost more:
Mortgage interest rates reach highest point since December -- Washington Post
Good news for diabetes patients:
CVS strikes a deal to sell insulin for $25 -- Business Insider
Move over Siri, Alexa is here:
Amazon makes digital assistant available on iPhone app -- Quartz
Shameless cross-promotion of the week: Want to find out how our recent blast of winter weather has affected ski country? Sign up for It's All Downhill and get the powdery details sent to your inbox.
Sign of a compromise: So what that you can barely find one of their stations around. And now that everyone has GPS, you don't really need landmarks for directions.
As reported in this morning's Globe, the Citgo sign that lights up the Boston skyline, particularly during Red Sox games, is staying put.
With the help of Boston Mayor Martin J. Walsh, Related Beal and Citgo have come to an agreement on the future of the sign atop the Beacon Street building it's called home since the 1960s. Terms of the agreement have not been released, but there are hints that it covers multiple years into the future.
The word iconic gets tossed around a lot, but it's hard to think of the view over the Green Monster at Fenway without the red, white, and blue of Citgo in the background.
Now we can get back to worrying about other things, like, David Price's left elbow.