Boston Business Journal -- Vertex Pharmaceuticals (NYSE: VRTX) and developer Joe Fallon are working to advance the biotech company's plan to move to a new building on the South Boston waterfront, Boston Mayor Thomas M. Menino said Thursday afternoon.
"I don't think anything is holding it up. They're just putting the financing together," Menino told the Boston Business Journal when asked about the project after a firefighters' graduation.
Developments across the country are being affected by the credit crunch, but Vertex and Fallon are commited to getting a "deal done," the mayor said.
"They're working on it. I know that for a fact," he added.
Fallon did not return calls seeking comment.
A Vertex spokesman declined to comment.
Before the credit market collapsed, Cambridge-based Vertex agreed to occupy 500,000 square feet at Fallon's Fan Pier project in a building that has yet to be erected. Fallon is putting up an adjacent office building at the site on spec.
