Post Content

Revere Wonderland-Waterfront-Gov 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.

Written By:

Recent Posts

MBTA Orange Line Service Alert: Suspension of Weekend Service August 1-2 posted on Jul 29

MBTA Orange Line Service Alert: Suspension of Weekend Service August 1-2

The MBTA has scheduled necessary track maintenance activities on the Orange Line for this weekend, Saturday, August 1st and Sunday, August 2nd. Weekend service will be suspended between Forest Hills and Ruggles Stations. During the suspension of service, work crews will remove and replace rail   …Continue Reading MBTA Orange Line Service Alert: Suspension of Weekend Service August 1-2

Longfellow Bridge: August Closures Update posted on Jul 29

Longfellow Bridge: August Closures Update

The Longfellow Bridge Rehabilitation Project moves forward with demolition work that will require bridge closures. MassDOT’s contractor, White-Skanska-Consigli JV (WSC), will periodically close the Longfellow Bridge to all vehicular traffic beginning on Saturday, August 1 through Friday, August 21. The closures are necessary to safely   …Continue Reading Longfellow Bridge: August Closures Update

Green Line Extension Community Outreach Event posted on Jul 29

Green Line Extension Community Outreach Event

The Green Line Extension Project team including contractor Barletta Heavy Division this week participated in a touch-a-truck event with the Power Kids summer enrichment program in Medford. Approximately 60 youth from the Power Kids program grades K-11 had an up close view of the construction   …Continue Reading Green Line Extension Community Outreach Event