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28-478: Downtown Crossing is a shopping district within downtown Boston , Massachusetts , located east of Boston Common , west of the Financial District , south of Government Center , and north of Chinatown and the old Combat Zone . It features large department stores as well as restaurants, souvenir sellers, general retail establishments, and street vendors. The Downtown Crossing MBTA station lies in

56-476: A 38-story tower that will rise to 495 feet. However, the vacancy left by Filene's has left the building to be redeveloped. Filene's Basement has been closed for the duration of construction, but has vowed to return upon the completion of construction. Filene's Basement filed for bankruptcy protection on Monday May 4, 2009. New York's Crown Acquisitions , with the Chetrit Group as its partner has made

84-591: A bid to buy 17 of Filene's 25 locations including the Downtown Crossing location. Although construction has stalled on the Downtown Crossing project, the store is still slated to reopen in the future. The Downtown Crossing location accounted for 13% of the company's sales. Vornado Realty Trust had been paying Filene's $ 500,000 a month in compensation for closing their Downtown Crossing store. These payments stopped without notice in January 2009. In 2010,

112-633: A location in Boston is a stub . You can help Misplaced Pages by expanding it . Vornado Realty Trust Vornado Realty Trust is a real estate investment trust formed in Maryland in 1982, with its primary office in New York City . The company invests in office buildings and street retail in Manhattan. Notable properties owned by the company include: The company also owns: The origins of

140-472: A personal loan from Citicorp and in 1991, Trump was forced to turn over his holdings to Citibank. In 1992, Roth and Alexander's creditors forced Alexander's into bankruptcy. Alexander's emerged from bankruptcy in 1993 as a real estate investment trust . That same year, Vornado Inc. was converted into a REIT , Vornado Realty Trust. In 1995, Vornado bought Citicorp's interest in Alexander's. In 1989,

168-654: A transformation that included the construction of new condos and lofts, renovation of historic buildings, and arrival of new residents and businesses. It is represented in the Boston City Council by District 2 's Ed Flynn . Downtown is bound by the Back Bay , North End , Beacon Hill , and the South End areas. It includes the Government Center and the Financial District . The area that

196-562: Is a transportation hub with subway, commuter rail, intercity bus, and Amtrak service. Boston Public Schools operates area district public schools. Boston Renaissance Charter Public School was formerly located in a building in Park Square . In 2010 it moved to its current location in Hyde Park . 42°21′00″N 71°04′00″W  /  42.35000°N 71.06667°W  / 42.35000; -71.06667 This article about

224-686: Is now Downtown Boston constituted much of the town/city proper prior to the city's dramatic expansion in the 1860s and 1870s. The Great Boston Fire of 1872 destroyed much of the neighborhood, especially between Summer, Washington, and Milk Streets. In the 1950s the Central Artery highway began operating, until the Big Dig (1982–2007) relocated it underground. In the 1960s and 1970s the enormous new Government Center complex replaced Scollay Square . Landmarks in Downtown Boston include

252-408: Is the central business district of Boston , Massachusetts, United States. Boston was founded in 1630. The largest of the city's commercial districts, Downtown is the location of many corporate or regional headquarters; city, county, state and federal government facilities; and many of Boston's tourist attractions. Similar to other central business districts in the U.S., Downtown has recently undergone

280-606: The Greenway , Custom House Tower , City Hall , Faneuil Hall , Quincy Market , Old State House , Old South Meeting House , Massachusetts State House , Park Street Church , Boston Common , and Boston Public Garden . Educational institutions located downtown include Emerson College and Suffolk University . The four MBTA subway lines converge in the downtown area at the Downtown Crossing , Park Street , Government Center , and State stations. South Station

308-508: The Downtown Boston Business Improvement District was initiated to revive an ailing Downtown Crossing. In 2015, the historic Burnham Building (see Filene's Department Store ) where Filene's flagship previously resided became occupied by Havas and Arnold Worldwide on its upper floors. In the second half of 2015, supermarket Roche Bros. and Primark , an Irish clothing retailer, opened to occupy

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336-773: The Port Authority announced that Vornado Realty Trust had won the bid for a 99-year lease for the World Trade Center , offering $ 3.25 billion. Silverstein Properties was outbid by $ 30 million by Vornado. However, Vornado balked over lease terms and possible tax liabilities. Silverstein signed a lease for the World Trade Center in April 2001, 5 months before the September 11 attacks . In 2001,

364-677: The Vornado name was licensed to Vornado Air , LLC, a new company formed to manufacture heating and cooling equipment. Outside of the brand licensing agreement, the Trust has no modern relation to Vornado Air, LLC. In April 1997, the company acquired a company owned by Bernard H. Mendik in a $ 654 million stock transaction that added a large portfolio of office buildings in Manhattan to Vornado's assets. Mendik became co-chairman of Vornado until his resignation in October 1998. On February 15, 2001,

392-437: The area of Washington, Winter, and Summer streets surrounding the intersection closed to most vehicular traffic; pedestrians may walk freely in the street. In the late 18th and early 19th centuries, Summer Street was an upscale neighborhood, with townhouses designed by Charles Bulfinch and others. The Great Boston Fire of 1872 destroyed much of the neighborhood, especially between Summer, Washington, and Milk Streets. Since

420-432: The center of the district. The district gets its name from the intersection of Washington Street with Winter and Summer Streets. Historically, the district was anchored by two department stores, Jordan Marsh and Filene's which stood opposite each other at the intersection. While both stores have since been bought by other chains and no longer exist, the district continues to be a major pedestrian shopping area, with

448-618: The company acquired Charles E. Smith Commercial Realty, owner of a portfolio of assets primarily in Arlington, Virginia , in a $ 1.58 billion transaction. Robert H. Smith and Robert P. Kogod were added to the board of directors of Vornado. In 2005, the company bought a 32.5% interest in Toys "R" Us . Toys "R" Us filed bankruptcy in 2018 and the investment was written off. In 2013, Steven Roth replaced Michael D. Fascitelli as CEO of Vornado. Fascitelli had been CEO since 2009. In 2015,

476-468: The company can be traced back to the Two Guys discount store chain, founded in 1947 by brothers Sidney and Herbert Hubschman. In 1959, Two Guys acquired O. A. Sutton Corporation , manufacturers of the Vornado line of electric fans, and the company was subsequently renamed Vornado Inc. By 1964, the company operated over 200 stores. In the 1970s, Vornado began divesting its retail operations. In 1978,

504-476: The company sold 80 Two Guys locations in California. In 1980, Interstate Properties Inc., a real estate development company controlled by Steven Roth , acquired an 18% stake in Vornado, since Roth became interested in the company's real estate holdings. In 1981, Interstate Properties took control of the firm after winning a proxy struggle against existing management and closed additional stores, reducing

532-549: The early 1900s, the area along Washington and Tremont Streets, roughly from School Street to Beach Street, has also been referred to as the Ladder District . The side streets between the two main thoroughfares look like the rungs of a ladder when viewed on a map, hence the name. Between 1895 and 1917, Downtown Crossing became the hub of department store shopping in Boston. In 1841, Eben Jordan and Benjamin L. Marsh opened

560-484: The first Jordan Marsh store as wholesalers, which later grew into a retail department store. Another major store, Filene's , was founded in 1881. Originally known as William Filene's Sons Co. the store expanded, opening the "Automatic Bargain Basement" in 1909. Gilchrist and Kennedy's also opened in the neighborhood, though both are now defunct . These stores attracted more middle-class visitors, including those from

588-664: The former Filene's department store. The two stores, formerly under the same ownership, were disassociated in 1988. The building housing the two stores was added to the National Register of Historic Places in 1986. During the Winter Season Filene's would hold a Christmas tree lighting and Jordan Marsh would present a series festive Christmas window displays known as the "Enchanted Village". The window display has since relocated to Boston's Hynes Convention Center , and then to City Hall Plaza . Following

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616-473: The ground floor of the Burnham Building. In 2007 Suffolk University bought a building on West Street that was being renovated into condominiums, and converted it into a student dormitory capable of housing about 270 students. In 2010, Suffolk University renovated and restored the historical Modern Theatre and built a ten-story dormitory on top of the theater. The building is now an expansion to

644-493: The number of stores in operation to 12. In 1986, Interstate Properties and Donald Trump each bought approximately 20% of Alexander's , a failing retailer whose real estate holdings included a store that occupied the entire block between East 58th and 59th streets and Lexington and Third Avenues in Manhattan . In 1988, they each raised their stakes to 27% of the company, but Trump pledged his interest as collateral for

672-561: The original 10 West Street building and houses an additional 200 students. A plaque on the Macy's building marks the location of the first mint in the British colonies, established by John Hull in 1652. The MBTA's Downtown Crossing subway station directly serves Downtown Crossing. The State Street and Park Street stations are within close walking distance. Silver Line service is also available. A small mall called Lafayette Place Mall

700-401: The suburbs, and anchored other retail services, including food and restaurants. Nationwide, downtown department stores faced challenges after World War II due to suburbanization and competition from big box stores . Filene's Basement would go on to become a major department store independent of Filene's. The flagship store of Filene's Basement was located underground, in the basement of

728-600: The success of the Faneuil Hall Marketplace , Boston decided to redevelop the Washington Street area into a pedestrian-only mall, which was unveiled in 1979. At first, foot traffic and business in the area declined, but it slowly returned as the popularity of the mall as a shopping area increased, helped along by a cart vending program. The area is experiencing more growth due to new luxury hotel and condominium additions. In 2013, Millennium Place

756-477: Was attached to the Jordan Marsh store in 1985; by 1992 the mall was closed and has since been converted to offices. The Corner Mall in the former Gilchrist's department store building now services the public with a large food court and several small retail stores. The Boston Irish Famine Memorial is located on the corner of School Street and Washington Street. Downtown Boston Downtown Boston

784-556: Was completed. The luxury towers rise to 38 stories (475 feet) and 36 stories (446 feet). In 1996, the former Jordan Marsh store became Macy's, and in early 2006 the Filene's landmark flagship store was closed. In 2006, Vornado Realty Trust announced the purchase of the former Filenes site for $ 100m. The project is expected to cost around $ 620 million and the project would be filled with upscale shopping destinations, high-dollar business space, and tony residences. The plan calls for

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