Word: districters
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...Hollywood bright-lights, penny-pinching students, and vintage-clothing lovers who frequent the Garment District can all sigh with relief due to a recent compromise between storeowner Christopher Cassel and the city of Cambridge...
Earlier this year, the self-proclaimed “alternative department store” was in jeopardy of losing its crumbling, pink-brick home on 200 Broadway St. and being replaced with condominiums. A desirable piece of property lucratively plopped between MIT and a residential area, the Garment District plot had been eyed by developers as a prime location for expansion amid Cambridge’s booming real-estate market...
After seven months of negotiations, Cassell and business partner Tani Halperin agreed to sell the piece of land on Harvard St. behind the Garment District building to the city for $2.9 million—an extremely profitable deal for the partners since Cassell had originally bought the entire Garment District lot for only $3.4 million. Cassell and Halperin will be keeping the majority of their land for the store. The proceeds from the sale will fund much-needed renovations to the 115-year-old textile factory building, saving the Garment District from falling off Cambridge’s list...
...recent deal has also preserved the “family” of Garment District associates, according to Monique Machado, 25, a two-year employee at the Garment District...
...Tokyo's most prestigious apartment towers, where it's said that rents can exceed $50,000 a month. Now, however, Horie spends his days and nights in an unheated jail cell the size of three tatami mats. On Jan. 23, a week after investigators from the Tokyo District Court Public Prosecutor's Office raided the headquarters of Livedoor, the Internet company Horie founded a decade ago, he and three other executives were arrested on suspicion of securities fraud. The 33-year-old tycoon has since resigned as CEO, leaving his company in disarray, its stock down 80% since the raid...