BOSTON – Boston officials have given the OK for General Growth Properties, also the owner of Providence Place, to sell its Faneuil Hall lease to New York-based Ashkenazy Acquisition Corp., The Boston Herald reported Friday.
The deal is completed after a road bump in June when the director of the Boston Redevelopment Authority, Pete Meade, rejected the request after General Growth refused to provide documents related to Ashkenazy, including: the firm’s capital reserves, a summary of litigation pending against the company, a maintenance plan for the shopping center and its plans to keep and attract local business. They later agreed to provide the information.
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The city has also required Ashkenazy to meet with the merchants in order to ensure a “strong working relationship,” The Boston Herald said.
The head of the Faneuil Hall Marketplace Merchants Association applauded the city’s support.
“We are blessed to operate our shops in the city of Boston, where small business owners’ concerns and issues are heard and taken seriously,” said association President Carol Troxell.
“My No. 1 priority is to support the merchants of Faneuil Hall Marketplace,” said Mayor Thomas M. Menino in a statement. “Faneuil Hall will continue to be a landmark destination for our residents and visitors from all over the world.”
