well, that was good for a giggle, though it would be interesting to see how much of the $36 million they could actually raise. thanks for posting.
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I understand and mourn the loss of Russo’s. The business the Russo family developed and worked many, many hours on over many decades is not worth anywhere near as much as the land in that location is. The grocery and produce wholesale and retail business has low margins and Russo’s sold at very fair prices to retail consumers.
Developers are snapping up even small pieces of land in hopes of turning them into lab space. Happening in even tiny corners of Somerville. The lab space real estate market is a bubble like the condo real estate market; but that’s the price now.
It’s a direct result of what is happening economically all around us, and has been for a long time. I don’t think big Pharma and MGH and BWH top executives need to make millions every year. I don’t begrudge the Russo family cashing in after decades of extremely hard work. They don’t run the economy.
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Well maybe the petition will convince someone to buy “the business” (not the land) and find a way to open it somewhere else - but very close by please.
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One thing I never saw mentioned: Russo’s sold for a ton of money, because the land could be redeveloped. Watertown, years ago, should have realized what this place was, and zoned the land so it could be only used for a “farm stand” or whatever. It certainly would not have sold for 36 million in that case; but it would have still sold for several million. Perhaps an employee group could have purchased it.
But of course, even Watertown had a conflict of interest: those condos will probably bring in a lot more tax revenue than a Russo’s replacement.
Water under the bridge now. But it is annoying that no one in Watertown felt like maybe a Russo’s was a better use of land than yet more “luxury” condos.
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It won’t be condos but “another” biotech/pharma building
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rezoning land that would limit the owners from realizing its value in the free market? much as i loved and will mis russos, there’s something downright unamerican about that idea.
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Zoning has been used like this, in America, for decades.
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I just read in this morning’s Globe that Russo’s provided produce for the Watertown public school district. Now they’re scrambling to find another wholesaler. Obviously, the produce still exists - I wonder what happened to that food supply? After Russo’s closed, did it get divvied up among other wholesalers?
Edited to add: I feel so sad for the kids who really depend on school for their meals. But it sounds the “lunch ladies” are doing their best. They are unsung heroes.
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