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

MassDOT Announces Completion of Trapelo Road Reconstruction Project posted on Sep 28

MassDOT Announces Completion of Trapelo Road Reconstruction Project

Transportation Secretary and CEO Stephanie Pollack, Highway Administrator Thomas J. Tinlin, State Senator Will Brownsberger and state and local officials today announced the completion of the Trapelo Road Reconstruction project. A ribbon cutting ceremony was held today in Belmont to celebrate the project’s conclusion. “The   …Continue Reading MassDOT Announces Completion of Trapelo Road Reconstruction Project

Martha’s Vineyard Drawbridge Nationally Recognized as Top 10 Project posted on Sep 28

Martha’s Vineyard Drawbridge Nationally Recognized as Top 10 Project

MassDOT announced that ROADS & BRIDGES magazine has named the Lagoon Pond Drawbridge on Martha’s Vineyard to its list of Top 10 Bridge Projects for 2016. A $43.7 million project, the Lagoon Pond Drawbridge is a 350-foot bascule bridge that it is opened and closed   …Continue Reading Martha’s Vineyard Drawbridge Nationally Recognized as Top 10 Project

MassDOT Activates Real Time Traffic Displays on Interstate 195 posted on Sep 27

MassDOT Activates Real Time Traffic Displays on Interstate 195

MassDOT announced the expansion of its Real Time Traffic System (Go-Time) with additional displays along 40 miles of Interstate 195, from Seekonk to Wareham. This expansion will include 10 signs, providing travel times to 20 destinations, (12 of these 20 destinations will be displaying travel   …Continue Reading MassDOT Activates Real Time Traffic Displays on Interstate 195