The Price IS Right

The three-story brick building at 154 Maverick St. is going for a song, but the city hopes to stimulate retail and pocket
tax revenues.

The Boston Herald reports the city plans to sell a long vacant three-story brick building at 154 Maverick St. in East Boston to a private developer for $100. The building was valued at $451,000.

The developer will reportedly spend $1.2 million to renovate the former public welfare office building and rent out retail spaces on the first two floors. The bargain price may surprise or anger some, but to get a developer to rejuvenate a building that would otherwise sit idle and generate no taxes or business in these economic times makes sense. The city esteems reviving this eyesore will help spur some retail growth for Maverick Square.

The city still must approve the building?EUR??,,????'?????<