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.
Medford: Green Line Extension Public Meeting December 14 posted on Dec 5
The Green Line Extension Project Interim Program Management Team will host a public meeting as follows: Wednesday, December 14, 6:30 to 8:30 PM, Medford City Hall, Council Chambers, 85 George P. Hassett Drive The purpose of the meeting will be to present a general update …Continue Reading Medford: Green Line Extension Public Meeting December 14
MBTA Future: Focus40 Seeks Your Ideas posted on Dec 2
The Focus40 Street Team has been out at stops and stations around the system, collecting your ideas for the MBTA’s future. The Street Team is made up of MassDOT staff, community members, and partner organizations. We have already engaged with over 1,000 MBTA customers and …Continue Reading MBTA Future: Focus40 Seeks Your Ideas
MassDOT, MAPFRE Insurance Encourage Motorists to Prepare for Winter Driving posted on Dec 1
MassDOT and MAPFRE Insurance offer helpful tips to ensure that your vehicle is geared up for wintry road conditions: Bring your vehicle in for an inspection. Winter can involve some of the harshest conditions for your vehicle to endure, so have your vehicle checked by …Continue Reading MassDOT, MAPFRE Insurance Encourage Motorists to Prepare for Winter Driving