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.
Methuen Rotary Project: Travel Impacts posted on Jul 22
MassDOT has scheduled upcoming lane closures as part of the Methuen Rotary Reconstruction Project. Beginning on Monday, July 28, 2014 until further notice, the I-93 breakdown lane will be closed from Exit 46 – Routes 110/113 to Exit 47 – Pelham St. on I-93 Northbound …Continue Reading Methuen Rotary Project: Travel Impacts
Tobin Bridge: All-Electronic Tolling Begins Monday, July 21 posted on Jul 18
Effective Monday, July 21, prior to the morning commute, tolling on the Tobin Bridge will convert to the all-electronic format. The new toll system will eliminate the need for customers to pay the toll in cash. The system is equipped to read E-ZPass transponders for …Continue Reading Tobin Bridge: All-Electronic Tolling Begins Monday, July 21
MassDOT Berkshire Rail Line Purchase posted on Jul 17
The MassDOT Board of Directors has authorized MassDOT Secretary and CEO Richard A. Davey to execute an agreement to purchase the Berkshire Line from the Housatonic Railroad Company, a major step toward delivering passenger rail service between New York City and the Berkshires. The agreement …Continue Reading MassDOT Berkshire Rail Line Purchase