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, MAPFRE Insurance: July 4th – Summer Driving Safety Tips posted on Jun 26

MassDOT, MAPFRE Insurance: July 4th - Summer Driving Safety Tips

Did you know that on July 4th, 1776, the historical day of the signing of the Declaration of Independence, only 2.5 million people were living in the newly formed nation? According to the Census Bureau presently over 325 million Americans now reside in the United   …Continue Reading MassDOT, MAPFRE Insurance: July 4th – Summer Driving Safety Tips

Commonwealth Avenue Bridge Replacement Project Public Meetings posted on Jun 23

Commonwealth Avenue Bridge Replacement Project Public Meetings

MassDOT is hosting two pre-construction Public Meetings for the Commonwealth Ave Bridge Replacement Project as follows: Tuesday, July 11, 6:30 PM, Boston University College of General Studies, Jacob Sleeper Auditorium (Lower Level, Room 129), 871 Commonwealth Avenue, Boston Thursday, July 13, 6:30 PM, Newton Free   …Continue Reading Commonwealth Avenue Bridge Replacement Project Public Meetings

MassDOT Launches Statewide Bicycle and Pedestrian Safety Campaign: “Scan the Street” posted on Jun 23

MassDOT Launches Statewide Bicycle and Pedestrian Safety Campaign: "Scan the Street"

With the number of motor vehicle crashes involving pedestrians and cyclists on the rise, MassDOT is launching a campaign to promote pedestrian and bicycle safety. The goals of the campaign are to encourage Massachusetts residents to “be aware” of others on the road and, ultimately, change people’s   …Continue Reading MassDOT Launches Statewide Bicycle and Pedestrian Safety Campaign: “Scan the Street”