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

I-90 Pru Tunnel Work Scheduled: April 26-27 posted on Apr 22

I-90 Pru Tunnel Work Scheduled: April 26-27

Today, the Massachusetts Convention Center Authority (MCCA) and MassDOT announced the fourth and final weekend of lane restrictions on the Massachusetts Turnpike associated with the removal of the I-90 Prudential Tunnel ceiling in Boston.  Due to the faster-than-anticipated progress on the ceiling removal, the fourth   …Continue Reading I-90 Pru Tunnel Work Scheduled: April 26-27

Fall River: Route 79/Braga Bridge Project Demolition posted on Apr 22

Fall River: Route 79/Braga Bridge Project Demolition

MassDOT contractors beginning today as part of the Route 79/Braga Bridge Improvements Project will remove the portion of the elevated Route 79 over the intersection of Anawan Street/Pocasset Street and Davol Street. The work will take place today, Tuesday, April 22 through Friday, April 25.   …Continue Reading Fall River: Route 79/Braga Bridge Project Demolition

Green Line Extension: Medford Detour posted on Apr 21

Green Line Extension: Medford Detour

The Green Line Extension team would like to inform you of upcoming Phase 1 project work on Harvard Street in Medford. On the weekend of April 26th, it will be necessary for the GLX Phase 1 Contractor, Barletta Heavy Division, Inc., to close Harvard Street   …Continue Reading Green Line Extension: Medford Detour