Developer’s golden touch put to the test

February 14, 2012|Casey Ross, Globe Staff

For a man who just agreed to take over the most high-profile building project in Boston - the redevelopment of the Filene’s block - Anthony Pangaro has a remarkable aversion to the public spotlight.

He only enters it when he must, like the moment two weeks ago when he appeared with Mayor Thomas M. Menino to outline his plan for a massive tower at the Downtown Crossing property. He offered a few details - saying the building could reach 600 feet in height - but mostly spoke in broader terms.

“Downtown buildings [should] have a life of their own, but understand and appreciate the life of the city around them,’’ Pangaro said. “The best cities are the cities that put things on the sidewalk, that have something for everybody and are good sheltering places to be.’’

He spoke for about four minutes, offered praise for the mayor and the Boston Redevelopment Authority, and left the news conference before reporters could follow up with questions.

For nearly four decades, Pangaro has used an understated, diplomatic style to become one of the city’s most prolific developers, building luxury projects such as the Four Seasons Hotel and the massive Ritz-Carlton complex. He has also become a close ally to Menino in his effort to remake Downtown Crossing into a vibrant retail and residential district.

Now Pangaro is taking on that neighborhood’s toughest test: restarting construction at the Filene’s site, where a work stoppage in 2008 left a massive construction crater at the area’s most prominent commercial corner. Pangaro’s firm, Millennium Partners, took over the project earlier this month from Vornado Realty Trust of New York (Vornado remains an investor), pledging to build a $500 million tower on the site with residences, offices, and stores.

Millennium and its founders are based in New York, but Pangaro heads its operations in Boston, where he has worked in real estate and government since the early 1970s. He cut his teeth as a public servant overseeing one of the most contentious public works projects in Boston’s recent history, the relocation of the MBTA’s Orange Line in the South End, Roxbury, and Jamaica Plain.

Pangaro declined to comment for this article, but several past and current associates describe him as a developer with unusual patience and a deft political touch, both keys to success in a city where an ill-timed public statement can sink a project.

“He’s very astute about how the development process works,’’ said Richard Dimino, president of A Better City, a business organization that tracks development issues in Boston. “Every city has certain guidelines and rules, both spoken and unspoken. He and Millennium know that and have developed a track record of getting things done.’’

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