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.
Lexington: Route 2 Bridges Project Update posted on Aug 21
MassDOT next week will begin preparations to replace the Route 2 Bridges over I-95 in Lexington by implementing a traffic shift on Route 2 east and westbound. The work to prepare for the shift requires lane closures from 8:00 PM each night to 5:00 AM …Continue Reading Lexington: Route 2 Bridges Project Update
Governor Patrick Announces Knowledge Corridor Line Purchase posted on Aug 20
Governor Deval Patrick today announced an agreement in principle allowing the Commonwealth to purchase the Knowledge Corridor rail line between East Northfield and Springfield from Pan Am Southern, a joint venture of Pan Am and Norfolk Southern. The 49-mile segment of rail is currently undergoing …Continue Reading Governor Patrick Announces Knowledge Corridor Line Purchase
Morton Street Bridge Opens Ahead of Schedule posted on Aug 19
MassDOT announced the successful opening of the new Morton Street Bridge in Mattapan more than a full day ahead of the already accelerated schedule. The original structurally deficient bridge carrying Morton Street over the MBTA commuter rail tracks closed on Friday, August 8 for final …Continue Reading Morton Street Bridge Opens Ahead of Schedule