The Boston Business Journal reports the welcome news that the former FAO Schwarz space is going to become a Bank of America branch, bringing relief to long suffering residents and workers on the South Endish side of Boylston who will no longer have to go an entire block down and across the street to bank with Bank of America.
I don't get it.. well ok maybe I do.
But these neighborhood associations have fits when restaurants and bars try to open, yet a bank.. who already has nearby branches... wants to open, and not an eye is batted.
Just what we need.. another bank.
It's mostly about opportunity. When a bar needs a liquor license, they have to go through the Licensing Board and the "community process" to meet with neighbors. So there's a chance for people to have input. When a bank goes in, it's pretty much your standard private lease with no community input required or city approval necessary. Sometimes you will get organic meetings against these things but does not happen too often. It did with the Beacon Hill 7-11 switching to a bank however if you recall.
Neighborhood groups have opposed banks going in as well. If you sift through previous posts on Uhub you'll find examples. Hey, but don't let facts get in the way of your hate for the Back Bay and neighborhood associations!
I'm well aware.. Just look at the whole debacle with the 7-11 on charles street becoming a Capital One Bank.
I'm well aware.. but it just seems like they seem to be up and arms about certain businesses but not banks which seem to be taking over.
mainly for the reason that banks usually have regular business hours, or less. A bank that is mostly closed need not get prime retail space, and zoning should reflect that.
If a bank goes in it should be forced to at least serve two shifts 7 days a week.
I was on the C/D block yesterday and saw a storefront that said that a Santander branch was opening up. It's between the CVS and The Globe.
Fewer and fewer people actually need to go to an ATM, let alone an actual bank...yet they keep building. Mobile deposits, paypal, levelup, etc....most people walk around w/$0 in their pockets. No more banks!
I miss the days when people carried some money around in their pockets. The other day I saw a guy paying for a $0.99 bottle of water in a 7-11 store with a card. It struck me as a little absurd, but maybe I am behind the times.
Merchants have to pay a fee and I'm sure they all negotiate their own deals but I would imagine that the fee they pay MasterCard or Visa is more than 99 cents. It's convenient for me but not so convenient for 7-11.
when people go to pay for their $.99 water with their card and the credit card machine is broken. Maybe I'm old school as well, but you should at least have a few bucks in your pocket!
Santander is essentially Sovereign Bank's parent company.
Yup, same company, they just recently started using the well known international name.
There's another BoA that's even closer - in the old Hancock tower (Berkeley Building), less than 500 ft away. I wonder, are they closing/moving that branch? If not, that's completely absurd.
Interesting. Just another chip away at what once made the Back Bay retail experience unique.
The New York Times recently "reported" on Jamestown Property's takeover of Newbury Street at high rents. They forgot to talk about the white-washing of Back Bay from anything unique into an outdoor Paramus mall, right down to every fucking boring generic retailer who fled failing malls. These retail development strategists aren't just happy screwing up suburban areas. Now they're fucking up perfectly healthy urban neighborhoods. And these slime-ball banks write off high leases as part of their identity and marketing strategy so who cares about $175 --$220 a square foot.
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