The idea was to redevelop the historic Filene's department store and turn the block-long complex on Washington Street in Downtown Crossing into a 38-story tower of condominiums and hotel, office, and retail space. In a nod to the past, the Filene's facade and parts of two buildings were to be kept.
Demolition of the old buildings began in spring 2008. But the $700 million price tag has proved too much in the midst of the financial crisis, and construction halted in fall of 2008.
The project was supposed to be completed in 2010, but is now stalled, leaving a hole in the heart of Boston.
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