Governor Deval Patrick joined Congressman Ed Markey, House Speaker Robert A. DeLeo and Mayor Tom Ambrosino today in announcing the Wonderland parking garage project in Revere is moving forward with federal stimulus American Recovery and Reinvestment Act (ARRA) funds along with MBTA bond revenue financing.
The funding plan gives the green light to begin construction in 2010 of the planned $47 million, 9-story, 1,900 space South Garage Parking Facility at the T's Wonderland Station on the Blue Line that will support Waterfront Square, left, a critical smart growth and transit-oriented development project.
The garage will improve access to the T and is a key phase one component of Waterfront Square, a planned mixed-use community of 902 residential units, 145,500 square feet of office space, a 100-room hotel and 28,000 square feet of retail space. Waterfront Square will create an estimated nearly 700 permanent jobs, with the parking garage creating an estimated 500 construction jobs.
The MassDOT Board last week authorized the $22.7 million award of federal stimulus ARRA funds and $11.3 million in MBTA bond revenue financing toward the project. The additional funds supplement federal and state funding previously allocated. Financial analysis indicates that parking revenues from the new garage will exceed the cost of the MBTA's borrowing and in fact will generate additional net revenues.
Governor Baker, Mayor Walsh Announce Joint Community Redevelopment Venture in Downtown Boston posted on Feb 9
Today as part of the Baker-Polito Administration’s “Open for Business” Real Estate Asset Leveraging (REAL) Strategy, Governor Charlie Baker and Boston Mayor Martin J. Walsh announced a joint state and city venture with Veolia North America to explore the strategic redevelopment of the Massachusetts Department …Continue Reading Governor Baker, Mayor Walsh Announce Joint Community Redevelopment Venture in Downtown Boston
MBTA: Green Line Service Temporary Suspension between Park and Haymarket posted on Feb 9
On selected weekends and nights, MBTA Green Line service will be suspended in both directions between Park and Haymarket stations to allow for platform work as part of the Government Center Station project. The diversion will allow personnel access to the Government Center Green Line …Continue Reading MBTA: Green Line Service Temporary Suspension between Park and Haymarket
MassDOT Prepares for Winter Storm posted on Feb 7
The Massachusetts Department of Transportation (MassDOT) is preparing for a significant winter storm which is scheduled to arrive in some areas of the state overnight tonight and early Monday morning and which will bring blizzard conditions to areas along the South Shore as well …Continue Reading MassDOT Prepares for Winter Storm