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.
I-495 Highway Safety Program Announced posted on Nov 20
MassDOT and the Massachusetts State Police announced the establishment of a new Highway Safety Corridor Program for I-495 through the towns of Chelmsford, Westford, Littleton, Boxborough, Bolton, and Berlin. The program posts public safety signs that read, “Highway Safety Corridor / Laws Strictly Enforced” at …Continue Reading I-495 Highway Safety Program Announced
Robin Chase Appointed to MassDOT Board posted on Nov 19
Governor Deval Patrick today appointed Robin Chase to the Massachusetts Department of Transportation (MassDOT) Board of Directors. Chase is the founder and former CEO of Zipcar, the largest car-sharing company in the world, Buzzcar, a car-sharing marketplace in France and GoLoco, an online ridesharing community. …Continue Reading Robin Chase Appointed to MassDOT Board
McGrath Boulevard Project Working Group Meeting posted on Nov 18
MassDOT has assembled a working group for the McGrath Boulevard Project including residents, business owners and other local stakeholders. The purpose of the working group is to inform and advise MassDOT on important community issues affecting the development of a design for the McGrath Boulevard …Continue Reading McGrath Boulevard Project Working Group Meeting